Wrapmanager Inc. Acquires 695 Shares of Wageworks Inc (NYSE:WAGE)

Wrapmanager Inc. increased its position in shares of Wageworks Inc (NYSE:WAGE) by 7.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,851 shares of the business services provider’s stock after buying an additional 695 shares during the quarter. Wrapmanager Inc.’s holdings in Wageworks were worth $500,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Radnor Capital Management LLC bought a new stake in shares of Wageworks in the 2nd quarter valued at $387,000. Norges Bank bought a new stake in shares of Wageworks in the 4th quarter valued at $11,403,000. Mason Street Advisors LLC increased its position in shares of Wageworks by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 12,730 shares of the business services provider’s stock valued at $481,000 after buying an additional 421 shares in the last quarter. CWM LLC increased its position in shares of Wageworks by 23.8% in the 1st quarter. CWM LLC now owns 76,633 shares of the business services provider’s stock valued at $2,894,000 after buying an additional 14,752 shares in the last quarter. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Wageworks in the 1st quarter valued at $570,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

WAGE has been the subject of a number of recent analyst reports. Wells Fargo & Co cut shares of Wageworks from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $45.00 to $50.00 in a research report on Tuesday, May 7th. William Blair cut shares of Wageworks from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 27th. JMP Securities cut shares of Wageworks from an “outperform” rating to a “market perform” rating in a research report on Friday, June 28th. Stifel Nicolaus cut shares of Wageworks from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Monday, July 15th. Finally, Zacks Investment Research restated a “hold” rating on shares of Wageworks in a research report on Saturday, June 29th. Six investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $54.50.

NYSE WAGE traded down $0.03 on Wednesday, reaching $51.22. The company had a trading volume of 267,814 shares, compared to its average volume of 696,407. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. Wageworks Inc has a 1-year low of $25.15 and a 1-year high of $54.90. The stock’s fifty day moving average price is $50.96.

Wageworks (NYSE:WAGE) last announced its earnings results on Friday, June 28th. The business services provider reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.10). The company had revenue of $118.23 million during the quarter, compared to analyst estimates of $126.19 million. Wageworks had a return on equity of 3.58% and a net margin of 4.10%. Equities research analysts forecast that Wageworks Inc will post 1.08 EPS for the current year.

Wageworks Company Profile

WageWorks, Inc is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.

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Institutional Ownership by Quarter for Wageworks (NYSE:WAGE)

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