First Trust Advisors LP increased its stake in WageWorks Inc. (NYSE:WAGE) by 131.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,486 shares of the company’s stock after buying an additional 12,197 shares during the period. First Trust Advisors LP owned approximately 0.06% of WageWorks worth $1,285,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Loomis Sayles & Co. L P bought a new stake in shares of WageWorks during the first quarter valued at approximately $20,313,000. UBS Asset Management Americas Inc. increased its stake in shares of WageWorks by 499.9% in the first quarter. UBS Asset Management Americas Inc. now owns 138,574 shares of the company’s stock valued at $7,014,000 after buying an additional 115,475 shares during the period. UBS Group AG increased its stake in shares of WageWorks by 10.3% in the first quarter. UBS Group AG now owns 27,248 shares of the company’s stock valued at $1,379,000 after buying an additional 2,551 shares during the period. State Street Corp increased its stake in shares of WageWorks by 2.9% in the first quarter. State Street Corp now owns 676,193 shares of the company’s stock valued at $34,219,000 after buying an additional 18,966 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of WageWorks during the first quarter valued at approximately $237,000.
Shares of WageWorks Inc. (NYSE:WAGE) traded up 1.23% during trading on Friday, reaching $60.91. The company’s stock had a trading volume of 187,522 shares. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 99.85 and a beta of 0.91. WageWorks Inc. has a one year low of $38.99 and a one year high of $65.43. The firm’s 50-day moving average price is $61.89 and its 200-day moving average price is $57.43.
WageWorks (NYSE:WAGE) last released its earnings results on Tuesday, August 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. WageWorks had a net margin of 6.58% and a return on equity of 10.39%. The firm earned $87.70 million during the quarter, compared to analyst estimates of $87.42 million. During the same period last year, the business earned $0.28 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts anticipate that WageWorks Inc. will post $1.40 earnings per share for the current year.
Several brokerages have recently commented on WAGE. JMP Securities reissued a “buy” rating on shares of WageWorks in a research note on Wednesday, August 31st. Zacks Investment Research lowered WageWorks from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Standpoint Research upped their target price on WageWorks from $59.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, June 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $69.00 target price (up from $59.00) on shares of WageWorks in a report on Thursday, June 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 target price (up from $60.00) on shares of WageWorks in a report on Thursday, August 11th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $64.14.
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 and other employee benefits.
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