Legal & General Group Plc boosted its stake in shares of Wageworks Inc (NYSE:WAGE) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,674 shares of the business services provider’s stock after acquiring an additional 4,470 shares during the quarter. Legal & General Group Plc’s holdings in Wageworks were worth $4,286,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Marble Harbor Investment Counsel LLC grew its holdings in Wageworks by 71.1% in the second quarter. Marble Harbor Investment Counsel LLC now owns 10,950 shares of the business services provider’s stock valued at $548,000 after purchasing an additional 4,550 shares during the period. BlackRock Inc. grew its holdings in Wageworks by 7.9% in the second quarter. BlackRock Inc. now owns 5,548,500 shares of the business services provider’s stock valued at $277,424,000 after purchasing an additional 406,916 shares during the period. Eagle Asset Management Inc. grew its holdings in Wageworks by 3.1% in the second quarter. Eagle Asset Management Inc. now owns 651,294 shares of the business services provider’s stock valued at $32,564,000 after purchasing an additional 19,624 shares during the period. JPMorgan Chase & Co. grew its holdings in Wageworks by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 360,137 shares of the business services provider’s stock valued at $16,279,000 after purchasing an additional 10,597 shares during the period. Finally, Citigroup Inc. grew its holdings in Wageworks by 205.1% in the first quarter. Citigroup Inc. now owns 9,217 shares of the business services provider’s stock valued at $416,000 after purchasing an additional 6,196 shares during the period.

Shares of NYSE:WAGE opened at $40.15 on Monday. The company has a market capitalization of $1.59 billion, a PE ratio of 32.12 and a beta of 1.37. Wageworks Inc has a 1 year low of $38.40 and a 1 year high of $65.80.

Several analysts have commented on WAGE shares. William Blair started coverage on Wageworks in a report on Wednesday, May 30th. They issued an “outperform” rating on the stock. Stifel Nicolaus dropped their price objective on Wageworks from $80.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, June 27th. Zacks Investment Research lowered Wageworks from a “hold” rating to a “sell” rating in a report on Saturday, June 30th. ValuEngine raised Wageworks from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Finally, JMP Securities lowered Wageworks from an “outperform” rating to a “market perform” rating in a report on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.40.

About Wageworks

WageWorks, Inc engages in the provision of consumer-directed benefits. It offers health card programs, health savings account, pre-tax spending accounts, medical and dental reimbursement arrangements, and transit and parking programs. The company was founded by Clem O’Donnell and Jon Kessler on January 28, 2000 and is headquartered in San Mateo, CA.

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Institutional Ownership by Quarter for Wageworks (NYSE:WAGE)

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