State of Tennessee Treasury Department Has $2.11 Million Holdings in WageWorks, Inc. (WAGE)
State of Tennessee Treasury Department decreased its stake in WageWorks, Inc. (NYSE:WAGE) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,759 shares of the business services provider’s stock after selling 2,197 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.09% of WageWorks worth $2,110,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of WAGE. Zurcher Kantonalbank Zurich Cantonalbank increased its position in WageWorks by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the business services provider’s stock worth $107,000 after buying an additional 139 shares in the last quarter. Advisor Group Inc. increased its position in WageWorks by 10.8% in the second quarter. Advisor Group Inc. now owns 1,594 shares of the business services provider’s stock worth $107,000 after buying an additional 156 shares in the last quarter. First Mercantile Trust Co. increased its position in WageWorks by 20.7% in the second quarter. First Mercantile Trust Co. now owns 1,925 shares of the business services provider’s stock worth $129,000 after buying an additional 330 shares in the last quarter. Riverhead Capital Management LLC increased its position in WageWorks by 85.3% in the second quarter. Riverhead Capital Management LLC now owns 2,964 shares of the business services provider’s stock worth $199,000 after buying an additional 1,364 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of WageWorks by 3.9% in the second quarter. Ameritas Investment Partners Inc. now owns 3,275 shares of the business services provider’s stock worth $220,000 after acquiring an additional 122 shares during the period.
WageWorks, Inc. (WAGE) opened at $60.65 on Monday. The firm has a market capitalization of $2,403.96, a PE ratio of 48.52, a PEG ratio of 3.24 and a beta of 0.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.38 and a quick ratio of 1.38. WageWorks, Inc. has a one year low of $56.90 and a one year high of $80.50.
WageWorks (NYSE:WAGE) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $115.70 million during the quarter, compared to analyst estimates of $117.09 million. WageWorks had a return on equity of 9.60% and a net margin of 9.87%. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 earnings per share. research analysts forecast that WageWorks, Inc. will post 1.25 EPS for the current year.
WAGE has been the subject of a number of recent analyst reports. Zacks Investment Research lowered WageWorks from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. BidaskClub raised WageWorks from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of WageWorks in a research note on Friday, October 6th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price objective (down previously from $85.00) on shares of WageWorks in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $79.75.
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In related news, insider Kimberly L. Wilford sold 50,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $62.13, for a total transaction of $3,106,500.00. Following the completion of the transaction, the insider now directly owns 93,238 shares of the company’s stock, valued at $5,792,876.94. The sale was disclosed in a filing with the SEC, which is available through this link. 3.54% of the stock is currently owned by corporate insiders.
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.
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