Oppenheimer Asset Management Inc. bought a new position in shares of WageWorks, Inc. (NYSE:WAGE) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 27,890 shares of the business services provider’s stock, valued at approximately $2,016,000. Oppenheimer Asset Management Inc. owned approximately 0.07% of WageWorks at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. New York State Teachers Retirement System boosted its position in shares of WageWorks by 0.7% in the fourth quarter. New York State Teachers Retirement System now owns 53,961 shares of the business services provider’s stock worth $3,912,000 after buying an additional 400 shares during the last quarter. Comerica Bank boosted its position in shares of WageWorks by 5.9% in the fourth quarter. Comerica Bank now owns 39,464 shares of the business services provider’s stock worth $2,869,000 after buying an additional 2,191 shares during the last quarter. Allianz Asset Management AG purchased a new position in shares of WageWorks during the fourth quarter worth $4,156,000. Ameriprise Financial Inc. boosted its position in shares of WageWorks by 25.3% in the first quarter. Ameriprise Financial Inc. now owns 492,930 shares of the business services provider’s stock worth $35,639,000 after buying an additional 99,528 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of WageWorks by 12.9% in the fourth quarter. Renaissance Technologies LLC now owns 627,900 shares of the business services provider’s stock worth $45,523,000 after buying an additional 71,500 shares during the last quarter.
Shares of WageWorks, Inc. (WAGE) traded down 3.07% on Monday, hitting $69.45. The company’s stock had a trading volume of 479,304 shares. The stock has a market capitalization of $2.59 billion, a P/E ratio of 103.04 and a beta of 1.06. The stock’s 50 day moving average price is $71.47 and its 200 day moving average price is $72.91. WageWorks, Inc. has a 52 week low of $55.65 and a 52 week high of $80.50.
WageWorks (NYSE:WAGE) last posted its quarterly earnings results on Thursday, May 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.04. WageWorks had a net margin of 6.33% and a return on equity of 9.85%. The firm had revenue of $125 million during the quarter, compared to analyst estimates of $122.08 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 43.7% compared to the same quarter last year. On average, analysts forecast that WageWorks, Inc. will post $1.78 earnings per share for the current fiscal year.
WAGE has been the topic of a number of research analyst reports. Chardan Capital lifted their target price on WageWorks from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, February 24th. Needham & Company LLC lifted their target price on WageWorks from $74.00 to $82.00 and gave the company a “buy” rating in a report on Friday, February 24th. Wells Fargo & Company cut WageWorks from an “outperform” rating to a “market perform” rating in a report on Monday, March 27th. Zacks Investment Research upgraded WageWorks from a “sell” rating to a “hold” rating in a report on Thursday, March 2nd. Finally, William Blair reiterated an “outperform” rating on shares of WageWorks in a report on Friday, February 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $77.53.
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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