WageWorks, Inc. (WAGE) Holdings Boosted by Royal Bank of Canada
Royal Bank of Canada raised its holdings in WageWorks, Inc. (NYSE:WAGE) by 118.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 485,435 shares of the business services provider’s stock after buying an additional 263,604 shares during the quarter. Royal Bank of Canada owned 1.22% of WageWorks worth $32,622,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of WAGE. BlackRock Inc. raised its position in shares of WageWorks by 144,950.2% during the first quarter. BlackRock Inc. now owns 4,392,119 shares of the business services provider’s stock worth $317,551,000 after purchasing an additional 4,389,091 shares during the period. TimesSquare Capital Management LLC raised 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 period. Eagle Asset Management Inc. raised 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 period. Marshall Wace North America L.P. raised 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 period. Finally, Victory Capital Management Inc. raised 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 period.
WageWorks, Inc. (NYSE:WAGE) opened at 62.95 on Friday. WageWorks, Inc. has a 12 month low of $55.65 and a 12 month high of $80.50. The stock’s 50 day moving average price is $59.40 and its 200-day moving average price is $66.39. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 57.49 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 for the quarter, missing the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $119.18 million. During the same quarter in the prior year, the firm 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 analysts anticipate that WageWorks, Inc. will post $1.75 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/10/08/wageworks-inc-wage-holdings-boosted-by-royal-bank-of-canada.html.
A number of equities analysts have recently weighed in on WAGE shares. Zacks Investment Research lowered WageWorks from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 target price on shares of WageWorks in a research report on Monday, July 17th. BidaskClub lowered WageWorks from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of WageWorks in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price 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.
Want to see what other hedge funds are holding WAGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WageWorks, Inc. (NYSE:WAGE).
Receive News & Stock Ratings for WageWorks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WageWorks Inc. and related stocks with our FREE daily email newsletter.