Teachers Retirement System of The State of Kentucky decreased its holdings in shares of WageWorks, Inc. (NYSE:WAGE) by 13.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,162 shares of the business services provider’s stock after selling 3,688 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of WageWorks worth $1,624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WAGE. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in WageWorks by 9.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the business services provider’s stock worth $107,000 after acquiring an additional 139 shares during the period. Advisor Group Inc. increased its stake in shares of WageWorks by 10.8% in the second quarter. Advisor Group Inc. now owns 1,594 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 156 shares during the period. First Mercantile Trust Co. increased its stake in shares of WageWorks by 20.7% in the second quarter. First Mercantile Trust Co. now owns 1,925 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 330 shares during the period. Victory Capital Management Inc. increased its stake in shares of WageWorks by 8.0% in the first quarter. Victory Capital Management Inc. now owns 1,819 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 134 shares during the period. Finally, Riverhead Capital Management LLC increased its stake in shares of WageWorks by 85.3% in the second quarter. Riverhead Capital Management LLC now owns 2,964 shares of the business services provider’s stock valued at $199,000 after purchasing an additional 1,364 shares during the period.

WAGE has been the topic of several analyst reports. Zacks Investment Research lowered shares of WageWorks from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 7th. BidaskClub lowered shares of WageWorks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $85.00 price target on shares of WageWorks in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $80.30.

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Shares of WageWorks, Inc. (NYSE:WAGE) opened at 63.60 on Thursday. The firm has a 50 day moving average of $59.15 and a 200 day moving average of $66.53. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 58.08 and a beta of 0.84. WageWorks, Inc. has a 52 week low of $55.65 and a 52 week high of $80.50.

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

WageWorks Profile

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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