Wells Fargo & Company MN raised its position in WageWorks, Inc. (NYSE:WAGE) by 16.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 722,674 shares of the business services provider’s stock after purchasing an additional 103,125 shares during the quarter. Wells Fargo & Company MN owned about 1.82% of WageWorks worth $48,563,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WAGE. Great West Life Assurance Co. Can boosted its holdings in 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 valued at $3,786,000 after purchasing an additional 3,459 shares during the last quarter. First Trust Advisors LP boosted its holdings in WageWorks by 30.4% in the 1st quarter. First Trust Advisors LP now owns 31,167 shares of the business services provider’s stock valued at $2,253,000 after purchasing an additional 7,275 shares during the last quarter. US Bancorp DE boosted its holdings in WageWorks by 14.2% in the 1st quarter. US Bancorp DE now owns 7,955 shares of the business services provider’s stock valued at $574,000 after purchasing an additional 992 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in 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 valued at $46,546,000 after purchasing an additional 116,480 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its holdings in WageWorks by 2.9% in the 1st quarter. Suntrust Banks Inc. now owns 7,246 shares of the business services provider’s stock valued at $523,000 after purchasing an additional 206 shares during the last quarter.

Shares of WageWorks, Inc. (NYSE:WAGE) opened at 58.00 on Monday. WageWorks, Inc. has a 1-year low of $55.65 and a 1-year high of $80.50. The stock has a 50 day moving average of $58.97 and a 200-day moving average of $68.21. The stock has a market capitalization of $2.30 billion, a P/E ratio of 52.97 and a beta of 0.84.

WageWorks (NYSE:WAGE) last released 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). WageWorks had a return on equity of 9.52% and a net margin of 9.60%. The firm had revenue of $119.90 million for the quarter, compared to analyst estimates of $119.18 million. During the same period in the prior year, the business earned $0.36 earnings per share. WageWorks’s revenue for the quarter was up 36.7% on a year-over-year basis. Equities research analysts predict that WageWorks, Inc. will post $1.75 earnings per share for the current fiscal year.

In related news, CEO Joseph L. Jackson sold 495,148 shares of the firm’s 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 sale, the chief executive officer now directly owns 103,363 shares of the company’s stock, valued at $7,157,887.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Edgar O. Montes sold 50,000 shares of the firm’s 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 sale, the chief operating officer now directly owns 71,895 shares in the company, valued at $4,978,728.75. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by company insiders.

Several research firms have weighed in on WAGE. BidaskClub lowered shares of WageWorks from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 14th. Zacks Investment Research lowered shares of WageWorks from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 target price on shares of WageWorks in a report on Monday, July 17th. 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 company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $80.04.

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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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