WageWorks, Inc. (NYSE:WAGE) Stake Held by LS Investment Advisors LLC

LS Investment Advisors LLC maintained its position in shares of WageWorks, Inc. (NYSE:WAGE) during the second quarter, according to its most recent filing with the SEC. The firm owned 2,637 shares of the business services provider’s stock at the end of the second quarter. LS Investment Advisors LLC’s holdings in WageWorks were worth $177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its stake in shares of WageWorks by 8.1% in the first quarter. State Street Corp now owns 844,713 shares of the business services provider’s stock worth $61,076,000 after buying an additional 63,265 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of WageWorks by 25.3% in the first quarter. Ameriprise Financial Inc. now owns 492,930 shares of the business services provider’s stock worth $35,639,000 after buying an additional 99,528 shares in the last quarter. Sei Investments Co. raised its stake in shares of WageWorks by 27.6% in the first quarter. Sei Investments Co. now owns 97,044 shares of the business services provider’s stock worth $7,016,000 after buying an additional 21,007 shares in the last quarter. Bank of America Corp DE raised its stake in shares of WageWorks by 61.4% in the first quarter. Bank of America Corp DE now owns 314,522 shares of the business services provider’s stock worth $22,739,000 after buying an additional 119,614 shares in the last quarter. Finally, Cohen Capital Management Inc. raised its stake in shares of WageWorks by 45.3% in the second quarter. Cohen Capital Management Inc. now owns 9,441 shares of the business services provider’s stock worth $634,000 after buying an additional 2,943 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

WageWorks, Inc. (NYSE WAGE) opened at 58.25 on Friday. The firm has a market capitalization of $2.31 billion, a PE ratio of 53.20 and a beta of 0.86. WageWorks, Inc. has a one year low of $55.65 and a one year high of $80.50. The stock’s 50 day moving average is $62.87 and its 200-day moving average is $70.24.

WageWorks (NYSE:WAGE) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.42 by $0.11. The firm had revenue of $119.90 million for the quarter, compared to analysts’ expectations of $119.18 million. WageWorks had a return on equity of 9.52% and a net margin of 9.60%. The firm’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. On average, analysts anticipate that WageWorks, Inc. will post $1.75 EPS for the current fiscal year.

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WAGE has been the topic of a number of research analyst reports. TheStreet upgraded shares of WageWorks from a “c+” rating to a “b” rating in a research report on Friday, May 5th. Zacks Investment Research upgraded shares of WageWorks from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Wednesday, May 10th. Stifel Nicolaus reissued a “buy” rating and set a $85.00 target price on shares of WageWorks in a research note on Monday, July 17th. Finally, BidaskClub downgraded shares of WageWorks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $80.04.

In other news, COO Edgar O. Montes sold 50,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $69.25, for a total transaction of $3,462,500.00. Following the completion of the sale, the chief operating officer now directly owns 71,895 shares of the company’s stock, valued at $4,978,728.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph L. Jackson sold 495,148 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $69.25, for a total transaction of $34,288,999.00. Following the sale, the chief executive officer now directly owns 103,363 shares of the company’s stock, valued at $7,157,887.75. The disclosure for this sale can be found here. 3.54% of the stock is owned by insiders.

About WageWorks

WageWorks, Inc is engaged in administering Consumer-Directed Benefits (CDBs). The Company administers CBDs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, Consolidated Omnibus Budget Reconciliation Act (COBRA) and other employee benefits.

Institutional Ownership by Quarter for WageWorks (NYSE:WAGE)

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