KBC Group NV decreased its holdings in shares of WageWorks, Inc. (NYSE:WAGE) by 77.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,416 shares of the business services provider’s stock after selling 15,281 shares during the period. KBC Group NV’s holdings in WageWorks were worth $297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WAGE. Wells Fargo & Company MN grew its holdings in shares of WageWorks by 0.5% in the 1st quarter. Wells Fargo & Company MN now owns 619,549 shares of the business services provider’s stock worth $44,793,000 after acquiring an additional 3,182 shares during the period. Great West Life Assurance Co. Can grew its holdings in shares of WageWorks by 7.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 52,417 shares of the business services provider’s stock worth $3,786,000 after acquiring an additional 3,459 shares during the period. First Trust Advisors LP grew its holdings in shares of WageWorks by 30.4% in the 1st quarter. First Trust Advisors LP now owns 31,167 shares of the business services provider’s stock worth $2,253,000 after acquiring an additional 7,275 shares during the period. US Bancorp DE grew its holdings in shares of WageWorks by 14.2% in the 1st quarter. US Bancorp DE now owns 7,955 shares of the business services provider’s stock worth $574,000 after acquiring an additional 992 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of WageWorks by 22.1% in the 1st quarter. Bank of New York Mellon Corp now owns 643,782 shares of the business services provider’s stock worth $46,546,000 after acquiring an additional 116,480 shares during the period.

In other WageWorks news, CEO Joseph L. Jackson sold 495,148 shares of WageWorks stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $69.25, for a total value of $34,288,999.00. Following the transaction, the chief executive officer now owns 103,363 shares in the company, valued at $7,157,887.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Edgar O. Montes sold 50,000 shares of WageWorks stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $69.25, for a total transaction of $3,462,500.00. Following the completion of the transaction, the chief operating officer now owns 71,895 shares in the company, valued at approximately $4,978,728.75. The disclosure for this sale can be found here. Insiders own 3.54% of the company’s stock.

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A number of equities research analysts recently weighed in on WAGE shares. Stifel Nicolaus restated a “buy” rating and issued a $85.00 price target on shares of WageWorks in a report on Monday, July 17th. Zacks Investment Research cut WageWorks from a “strong-buy” rating to a “hold” rating in a report on Friday, July 7th. Finally, BidaskClub cut WageWorks from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $80.04.

Shares of WageWorks, Inc. (NYSE:WAGE) opened at 58.55 on Friday. WageWorks, Inc. has a 1-year low of $55.65 and a 1-year high of $80.50. The company has a 50-day moving average price of $60.06 and a 200-day moving average price of $68.81. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 53.47 and a beta of 0.84.

WageWorks (NYSE:WAGE) last posted its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.11. The business had revenue of $119.90 million during the quarter, compared to analyst estimates of $119.18 million. WageWorks had a return on equity of 9.52% and a net margin of 9.60%. The company’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS. On average, equities analysts expect that WageWorks, Inc. will post $1.75 earnings per share for the current fiscal year.

WageWorks Company Profile

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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