Investors Buy Large Volume of Wageworks Put Options (WAGE)

Wageworks Inc (NYSE:WAGE) was the recipient of unusually large options trading on Tuesday. Traders purchased 1,312 put options on the stock. This represents an increase of approximately 1,673% compared to the average volume of 74 put options.

NYSE:WAGE opened at $36.65 on Thursday. Wageworks has a 1 year low of $25.15 and a 1 year high of $58.10.

WAGE has been the topic of several recent research reports. Zacks Investment Research upgraded Wageworks from a “sell” rating to a “hold” rating in a research report on Saturday, November 17th. JMP Securities upgraded Wageworks from a “market perform” rating to an “outperform” rating and set a $29.48 target price on the stock in a research report on Monday, December 10th. Finally, SunTrust Banks dropped their target price on Wageworks to $50.00 and set a “buy” rating on the stock in a research report on Monday, January 28th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $50.70.

Large investors have recently bought and sold shares of the business. California Public Employees Retirement System raised its position in shares of Wageworks by 31.7% in the second quarter. California Public Employees Retirement System now owns 71,375 shares of the business services provider’s stock worth $3,569,000 after buying an additional 17,175 shares in the last quarter. FMR LLC raised its position in shares of Wageworks by 218.5% in the second quarter. FMR LLC now owns 2,178,770 shares of the business services provider’s stock worth $108,938,000 after buying an additional 1,494,766 shares in the last quarter. Northern Trust Corp raised its position in shares of Wageworks by 2.6% in the second quarter. Northern Trust Corp now owns 611,054 shares of the business services provider’s stock worth $30,552,000 after buying an additional 15,693 shares in the last quarter. Scout Investments Inc. raised its position in shares of Wageworks by 2.2% in the third quarter. Scout Investments Inc. now owns 89,158 shares of the business services provider’s stock worth $3,812,000 after buying an additional 1,893 shares in the last quarter. Finally, Alps Advisors Inc. raised its position in shares of Wageworks by 23.0% in the third quarter. Alps Advisors Inc. now owns 11,777 shares of the business services provider’s stock worth $503,000 after buying an additional 2,203 shares in the last quarter.

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About Wageworks

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.

Further Reading: Quiet Period Expirations

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