UBS Asset Management Americas Inc. Decreases Holdings in WageWorks, Inc. (WAGE)
UBS Asset Management Americas Inc. lowered its holdings in WageWorks, Inc. (NYSE:WAGE) by 7.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,800 shares of the business services provider’s stock after selling 15,545 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.52% of WageWorks worth $13,897,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in WageWorks by 144,950.2% in the 1st quarter. BlackRock Inc. now owns 4,392,119 shares of the business services provider’s stock worth $317,551,000 after buying an additional 4,389,091 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in shares of WageWorks by 46.2% during the second quarter. TimesSquare Capital Management LLC now owns 2,422,884 shares of the business services provider’s stock worth $162,818,000 after purchasing an additional 765,715 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of WageWorks by 169.2% during the second quarter. Eagle Asset Management Inc. now owns 966,101 shares of the business services provider’s stock worth $64,921,000 after purchasing an additional 607,164 shares during the last quarter. Marshall Wace North America L.P. lifted its position in shares of WageWorks by 3,456.3% during the second quarter. Marshall Wace North America L.P. now owns 456,954 shares of the business services provider’s stock worth $30,616,000 after purchasing an additional 444,105 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of WageWorks by 24,301.3% during the second quarter. Victory Capital Management Inc. now owns 443,859 shares of the business services provider’s stock worth $29,827,000 after purchasing an additional 442,040 shares during the last quarter.
WageWorks, Inc. (NYSE WAGE) opened at 63.75 on Wednesday. The firm’s 50-day moving average price is $58.99 and its 200 day moving average price is $66.56. WageWorks, Inc. has a 1-year low of $55.65 and a 1-year high of $80.50. The stock has a market cap of $2.53 billion, a PE ratio of 58.22 and a beta of 0.84.
WageWorks (NYSE:WAGE) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $119.18 million. During the same period in the prior year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 36.7% compared to the same quarter last year. Equities research analysts expect that WageWorks, Inc. will post $1.75 EPS for the current year.
A number of equities analysts have commented on WAGE shares. Zacks Investment Research downgraded shares of WageWorks from a “strong-buy” rating to a “hold” rating in a report on Friday, July 7th. BidaskClub upgraded shares of WageWorks from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 28th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $85.00 price objective on shares of WageWorks in a report on Monday, July 17th. Two 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 company presently has a consensus rating of “Hold” and a consensus price target of $80.04.
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.
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