Macquarie Group Ltd. Acquires 222,253 Shares of WageWorks, Inc. (WAGE)
Macquarie Group Ltd. grew its holdings in WageWorks, Inc. (NYSE:WAGE) by 59.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 597,064 shares of the business services provider’s stock after acquiring an additional 222,253 shares during the period. Macquarie Group Ltd. owned about 1.50% of WageWorks worth $40,123,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Miles Capital Inc. boosted its holdings in shares of WageWorks by 0.3% in the 1st quarter. Miles Capital Inc. now owns 3,098 shares of the business services provider’s stock valued at $224,000 after acquiring an additional 8 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in WageWorks by 0.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 8,370 shares of the business services provider’s stock worth $605,000 after buying an additional 70 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in WageWorks by 2.5% during the first quarter. Teacher Retirement System of Texas now owns 2,969 shares of the business services provider’s stock worth $215,000 after buying an additional 73 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in WageWorks by 8.0% during the first quarter. Victory Capital Management Inc. now owns 1,819 shares of the business services provider’s stock worth $132,000 after buying an additional 134 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in WageWorks by 9.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the business services provider’s stock worth $107,000 after buying an additional 139 shares in the last quarter.
Shares of WageWorks, Inc. (NYSE:WAGE) opened at 62.95 on Friday. The company’s 50-day moving average is $59.40 and its 200-day moving average is $66.39. WageWorks, Inc. has a one year low of $55.65 and a one year high of $80.50. The stock has a market capitalization of $2.50 billion, a P/E ratio of 57.49 and a beta of 0.84.
WageWorks (NYSE:WAGE) last posted its quarterly earnings data 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 net margin of 9.60% and a return on equity of 9.52%. The firm had revenue of $119.90 million during the quarter, compared to analysts’ expectations of $119.18 million. During the same quarter last year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 36.7% on a year-over-year basis. On average, equities research analysts anticipate that WageWorks, Inc. will post $1.75 earnings per share for the current year.
WAGE has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of WageWorks from a “strong-buy” rating to a “hold” rating in a report on Friday, July 7th. Stifel Nicolaus reissued a “buy” rating and set a $85.00 price target on shares of WageWorks in a report on Monday, July 17th. BidaskClub downgraded shares of WageWorks from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $82.00 price target on shares of WageWorks in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $80.30.
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.
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