S. Muoio & CO. LLC Makes New $1.02 Million Investment in Wageworks Inc (NYSE:WAGE)

S. Muoio & CO. LLC bought a new position in shares of Wageworks Inc (NYSE:WAGE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,000 shares of the business services provider’s stock, valued at approximately $1,016,000.

Other institutional investors also recently bought and sold shares of the company. Royce & Associates LP lifted its holdings in Wageworks by 30.0% during the first quarter. Royce & Associates LP now owns 1,290 shares of the business services provider’s stock worth $49,000 after buying an additional 298 shares during the period. Kavar Capital Partners LLC purchased a new stake in Wageworks during the second quarter worth $66,000. Quantamental Technologies LLC lifted its holdings in Wageworks by 109.6% during the first quarter. Quantamental Technologies LLC now owns 4,587 shares of the business services provider’s stock worth $173,000 after buying an additional 2,399 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Wageworks during the first quarter worth $226,000. Finally, OLD National Bancorp IN purchased a new stake in Wageworks during the first quarter worth $227,000. Institutional investors own 97.93% of the company’s stock.

Shares of WAGE stock traded up $0.01 during trading hours on Friday, reaching $51.25. 12,955 shares of the company’s stock were exchanged, compared to its average volume of 704,733. The stock’s 50 day moving average is $50.97 and its 200-day moving average is $44.33. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 62.49 and a beta of 1.40. The company has a current ratio of 1.39, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. Wageworks Inc has a fifty-two week low of $25.15 and a fifty-two week high of $53.85.

Wageworks (NYSE:WAGE) last issued its quarterly earnings results on Friday, June 28th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). The business had revenue of $118.23 million for the quarter, compared to analyst estimates of $126.19 million. Wageworks had a return on equity of 2.19% and a net margin of 2.17%. Equities analysts anticipate that Wageworks Inc will post 1.08 EPS for the current year.

WAGE has been the subject of a number of analyst reports. JMP Securities lowered Wageworks from an “outperform” rating to a “market perform” rating in a report on Friday, June 28th. William Blair downgraded Wageworks from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 27th. Zacks Investment Research reaffirmed a “hold” rating on shares of Wageworks in a research report on Saturday, June 29th. Wells Fargo & Co downgraded Wageworks from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $45.00 to $50.00 in a research report on Tuesday, May 7th. Finally, SunTrust Banks downgraded Wageworks from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. Six analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus target price of $54.50.

About Wageworks

WageWorks, Inc is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.

Further Reading: Holder of Record

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Institutional Ownership by Quarter for Wageworks (NYSE:WAGE)

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