Neuburgh Advisers LLC trimmed its holdings in Wageworks Inc (NYSE:WAGE) by 4.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,318 shares of the business services provider’s stock after selling 440 shares during the quarter. Neuburgh Advisers LLC’s holdings in Wageworks were worth $524,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of WAGE. Royce & Associates LP lifted its holdings in Wageworks by 30.0% during the 1st 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 in the last quarter. Kavar Capital Partners LLC bought a new position in Wageworks in the second quarter valued at about $66,000. Hillsdale Investment Management Inc. acquired a new stake in Wageworks in the second quarter worth about $102,000. Mercer Global Advisors Inc. ADV acquired a new stake in Wageworks in the first quarter worth about $226,000. Finally, OLD National Bancorp IN bought a new stake in Wageworks during the 1st quarter worth about $227,000. Institutional investors and hedge funds own 96.06% of the company’s stock.
WAGE has been the topic of a number of research reports. William Blair downgraded shares of Wageworks from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 27th. Zacks Investment Research upgraded shares of Wageworks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Stifel Nicolaus downgraded shares of Wageworks from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Monday, July 15th. SunTrust Banks lowered shares of Wageworks from a “buy” rating to a “hold” rating in a report on Friday, June 28th. Finally, JMP Securities cut shares of Wageworks from an “outperform” rating to a “market perform” rating in a research note on Friday, June 28th. Six research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $54.50.
Shares of NYSE:WAGE remained flat at $$51.34 during midday trading on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.25. Wageworks Inc has a 1-year low of $25.15 and a 1-year high of $53.85. The business’s 50-day moving average is $51.24 and its 200 day moving average is $46.31. The company has a market capitalization of $2.07 billion, a P/E ratio of 62.61 and a beta of 1.40.
Wageworks (NYSE:WAGE) last released its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.12). Wageworks had a net margin of 2.17% and a return on equity of 2.95%. The company had revenue of $108.63 million during the quarter, compared to the consensus estimate of $118.10 million. Equities research analysts expect that Wageworks Inc will post 1.08 earnings per share for the current year.
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.
Recommended Story: What is the definition of market timing?
Receive News & Ratings for Wageworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wageworks and related companies with MarketBeat.com's FREE daily email newsletter.