Neuburgh Advisers LLC lowered its stake in shares of Wageworks Inc (NYSE:WAGE) by 4.1% during the second quarter, HoldingsChannel reports. The firm owned 10,318 shares of the business services provider’s stock after selling 440 shares during the quarter. Neuburgh Advisers LLC’s holdings in Wageworks were worth $524,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WAGE. Canada Pension Plan Investment Board bought a new position in shares of Wageworks in the second quarter valued at $3,230,000. Brown Advisory Inc. bought a new stake in shares of Wageworks in the 2nd quarter valued at about $34,453,000. Renaissance Technologies LLC raised its holdings in shares of Wageworks by 0.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,106,635 shares of the business services provider’s stock valued at $56,206,000 after purchasing an additional 5,100 shares during the period. Water Island Capital LLC acquired a new stake in Wageworks in the 2nd quarter valued at about $25,465,000. Finally, Alpine Associates Management Inc. acquired a new stake in Wageworks in the 2nd quarter valued at about $10,215,000. 96.06% of the stock is owned by institutional investors.
A number of equities analysts recently commented on WAGE shares. JMP Securities cut Wageworks from an “outperform” rating to a “market perform” rating in a report on Friday, June 28th. William Blair lowered Wageworks from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 27th. Zacks Investment Research upgraded Wageworks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Stifel Nicolaus lowered Wageworks from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Monday, July 15th. Finally, SunTrust Banks lowered Wageworks from a “buy” rating to a “hold” rating in a report on Friday, June 28th. Six analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average target price of $54.50.
Shares of WAGE remained flat at $$51.34 during trading hours on Wednesday. The stock has a market capitalization of $2.07 billion, a PE ratio of 62.61 and a beta of 1.40. The business has a 50-day moving average of $51.24 and a 200 day moving average of $46.31. Wageworks Inc has a 12-month low of $25.15 and a 12-month high of $53.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.39 and a quick ratio of 1.39.
Wageworks (NYSE:WAGE) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.12). The company had revenue of $108.63 million for the quarter, compared to the consensus estimate of $118.10 million. Wageworks had a return on equity of 2.95% and a net margin of 2.17%. Equities 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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