Fmr LLC Grows Holdings in Wageworks Inc (NYSE:WAGE)

FMR LLC grew its stake in shares of Wageworks Inc (NYSE:WAGE) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,213,210 shares of the business services provider’s stock after buying an additional 98,990 shares during the period. FMR LLC owned 8.11% of Wageworks worth $87,270,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Millennium Management LLC raised its holdings in shares of Wageworks by 87.9% during the fourth quarter. Millennium Management LLC now owns 543,445 shares of the business services provider’s stock valued at $14,760,000 after acquiring an additional 254,234 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Wageworks by 15.3% in the fourth quarter. Macquarie Group Ltd. now owns 756,258 shares of the business services provider’s stock worth $20,540,000 after purchasing an additional 100,489 shares in the last quarter. Legal & General Group Plc raised its holdings in Wageworks by 3.5% in the fourth quarter. Legal & General Group Plc now owns 95,205 shares of the business services provider’s stock worth $2,575,000 after purchasing an additional 3,181 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Wageworks by 0.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 211,121 shares of the business services provider’s stock worth $5,734,000 after purchasing an additional 1,315 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in Wageworks in the fourth quarter worth $311,000.

A number of equities analysts have issued reports on WAGE shares. Zacks Investment Research upgraded Wageworks from a “sell” rating to a “hold” rating in a report on Saturday, February 9th. Wells Fargo & Co upgraded Wageworks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $45.00 to $65.00 in a report on Friday, March 8th. JMP Securities increased their price objective on Wageworks from $43.00 to $60.00 and gave the stock a “market outperform” rating in a report on Wednesday. Finally, SunTrust Banks reduced their price target on Wageworks to $50.00 and set a “buy” rating for the company in a report on Monday, January 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $61.50.

Shares of Wageworks stock traded up $1.19 during trading on Friday, hitting $49.82. 517,932 shares of the company’s stock traded hands, compared to its average volume of 775,636. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 1.47. Wageworks Inc has a 1 year low of $25.15 and a 1 year high of $56.80. The stock has a market capitalization of $1.99 billion, a PE ratio of 60.76 and a beta of 1.67.

Wageworks (NYSE:WAGE) last released its quarterly earnings data on Monday, March 18th. The business services provider reported $0.23 EPS for the quarter. The company had revenue of $118.08 million for the quarter. Wageworks had a return on equity of 5.16% and a net margin of 6.96%. As a group, sell-side analysts expect that Wageworks Inc will post 1.2 EPS for the current fiscal year.

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Wageworks 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.

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Institutional Ownership by Quarter for Wageworks (NYSE:WAGE)

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