WageWorks, Inc. (WAGE) Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of WageWorks, Inc. (NYSE:WAGE) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 664,846 shares of the business services provider’s stock after acquiring an additional 3,291 shares during the quarter. Bank of New York Mellon Corp owned about 1.67% of WageWorks worth $40,357,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TimesSquare Capital Management LLC increased its stake in WageWorks by 46.2% during the 2nd quarter. TimesSquare Capital Management LLC now owns 2,422,884 shares of the business services provider’s stock valued at $162,818,000 after purchasing an additional 765,715 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of WageWorks by 169.2% in the 2nd quarter. Eagle Asset Management Inc. now owns 966,101 shares of the business services provider’s stock valued at $64,921,000 after acquiring an additional 607,164 shares during the last quarter. Marshall Wace North America L.P. boosted its holdings in shares of WageWorks by 3,456.3% in the 2nd 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 acquiring an additional 444,105 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of WageWorks by 24,301.3% in the 2nd quarter. Victory Capital Management Inc. now owns 443,859 shares of the business services provider’s stock valued at $29,827,000 after acquiring an additional 442,040 shares during the last quarter. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of WageWorks by 47.8% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,067,886 shares of the business services provider’s stock valued at $64,821,000 after acquiring an additional 345,272 shares during the last quarter.

Several analysts have recently commented on WAGE shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $80.00 price objective (down from $85.00) on shares of WageWorks in a report on Thursday, November 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of WageWorks in a report on Friday, October 6th. ValuEngine raised shares of WageWorks from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of WageWorks from a “sell” rating to a “hold” rating and set a $70.00 price target on the stock in a report on Tuesday, November 14th. Finally, BidaskClub downgraded shares of WageWorks from a “sell” rating to a “strong sell” rating in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $79.75.

Shares of WageWorks, Inc. (NYSE WAGE) traded down $0.35 during midday trading on Thursday, reaching $62.90. 160,300 shares of the company were exchanged, compared to its average volume of 292,264. WageWorks, Inc. has a 12-month low of $56.90 and a 12-month high of $80.50. The stock has a market capitalization of $2,507.01, a P/E ratio of 50.60, a PEG ratio of 3.38 and a beta of 0.90. 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 (NYSE:WAGE) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.04. The company had revenue of $115.70 million during the quarter, compared to analysts’ expectations of $117.09 million. WageWorks had a net margin of 9.87% and a return on equity of 9.60%. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. equities analysts predict that WageWorks, Inc. will post 1.25 earnings per share for the current fiscal year.

In other news, Director John William Larson sold 30,500 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $63.76, for a total value of $1,944,680.00. Following the completion of the sale, the director now directly owns 42,930 shares in the company, valued at $2,737,216.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kimberly L. Wilford sold 50,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $62.13, for a total transaction of $3,106,500.00. Following the completion of the sale, the insider now owns 93,238 shares of the company’s stock, valued at $5,792,876.94. The disclosure for this sale can be found here. Corporate insiders own 3.54% of the company’s stock.

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About WageWorks

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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