Victory Capital Management Inc. boosted its stake in WageWorks, Inc. (NYSE:WAGE) by 24,301.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 443,859 shares of the business services provider’s stock after buying an additional 442,040 shares during the period. Victory Capital Management Inc. owned about 1.12% of WageWorks worth $29,827,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of WageWorks by 144,950.2% in the first quarter. BlackRock Inc. now owns 4,392,119 shares of the business services provider’s stock valued at $317,551,000 after buying an additional 4,389,091 shares during the last quarter. Marshall Wace North America L.P. boosted its stake in shares of WageWorks by 3,456.3% in the second quarter. Marshall Wace North America L.P. now owns 456,954 shares of the business services provider’s stock valued at $30,616,000 after buying an additional 444,105 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of WageWorks by 124.3% in the first quarter. Principal Financial Group Inc. now owns 647,285 shares of the business services provider’s stock valued at $46,799,000 after buying an additional 358,667 shares during the last quarter. Riverbridge Partners LLC boosted its stake in shares of WageWorks by 60.5% in the second quarter. Riverbridge Partners LLC now owns 694,024 shares of the business services provider’s stock valued at $46,638,000 after buying an additional 261,667 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of WageWorks by 31.4% in the first quarter. Renaissance Technologies LLC now owns 825,300 shares of the business services provider’s stock valued at $59,669,000 after buying an additional 197,400 shares during the last quarter.

WageWorks, Inc. (NYSE:WAGE) opened at 59.15 on Friday. The firm has a 50-day moving average of $61.09 and a 200 day moving average of $69.24. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 54.02 and a beta of 0.85. WageWorks, Inc. has a 52-week low of $55.65 and a 52-week high of $80.50.

WageWorks (NYSE:WAGE) last issued its earnings results on Tuesday, August 1st. The business services provider reported $0.31 EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $119.18 million. During the same period in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis. On average, equities research analysts forecast that WageWorks, Inc. will post $1.75 earnings per share for the current year.

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Several equities research analysts recently commented on WAGE shares. Zacks Investment Research raised WageWorks from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Wednesday, May 10th. TheStreet raised WageWorks from a “c+” rating to a “b” rating in a report on Friday, May 5th. Stifel Nicolaus reissued a “buy” rating and set a $85.00 target price on shares of WageWorks in a report on Monday, July 17th. Finally, BidaskClub cut WageWorks from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $80.04.

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

WageWorks Company 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.

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Institutional Ownership by Quarter for WageWorks (NYSE:WAGE)

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