Wageworks Inc (NYSE:WAGE) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 7,424 put options on the company. This represents an increase of approximately 1,067% compared to the typical daily volume of 636 put options.

Several large investors have recently added to or reduced their stakes in the company. Piedmont Investment Advisors Inc. increased its stake in shares of Wageworks by 3.4% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 9,433 shares of the business services provider’s stock valued at $256,000 after acquiring an additional 308 shares in the last quarter. Royce & Associates LP increased its stake in shares of Wageworks by 51.2% in the 4th quarter. Royce & Associates LP now owns 992 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 336 shares in the last quarter. Neuburgh Advisers LLC increased its stake in shares of Wageworks by 5.4% in the 4th quarter. Neuburgh Advisers LLC now owns 11,682 shares of the business services provider’s stock valued at $317,000 after acquiring an additional 594 shares in the last quarter. BB&T Corp increased its stake in Wageworks by 9.9% during the 4th quarter. BB&T Corp now owns 8,291 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 745 shares in the last quarter. Finally, Granite Investment Partners LLC increased its stake in Wageworks by 4.5% during the 4th quarter. Granite Investment Partners LLC now owns 18,851 shares of the business services provider’s stock valued at $512,000 after purchasing an additional 812 shares in the last quarter.

NYSE:WAGE opened at $38.99 on Friday. Wageworks has a twelve month low of $25.15 and a twelve month high of $56.80.

Several analysts have recently weighed in on the stock. SunTrust Banks lowered their price objective on shares of Wageworks to $50.00 and set a “buy” rating for the company in a research note on Monday, January 28th. Zacks Investment Research lowered shares of Wageworks from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Wells Fargo & Co upgraded shares of Wageworks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $45.00 to $65.00 in a research note on Friday, March 8th. Finally, JMP Securities upgraded shares of Wageworks from a “market perform” rating to an “outperform” rating and set a $29.48 price objective for the company in a research note on Monday, December 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $52.12.

TRADEMARK VIOLATION NOTICE: “Traders Purchase Large Volume of Put Options on Wageworks (WAGE)” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The original version of this piece can be accessed at https://www.thecerbatgem.com/2019/03/15/traders-purchase-large-volume-of-put-options-on-wageworks-wage.html.

Wageworks Company Profile

WageWorks, Inc is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.

See Also: What is a Reverse Stock Split?

Receive News & Ratings for Wageworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wageworks and related companies with MarketBeat.com's FREE daily email newsletter.