TIG Advisors LLC acquired a new stake in shares of Wageworks Inc (NYSE:WAGE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 170,000 shares of the business services provider’s stock, valued at approximately $8,634,000. Wageworks comprises approximately 0.4% of TIG Advisors LLC’s holdings, making the stock its 25th biggest holding. TIG Advisors LLC owned about 0.42% of Wageworks as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Radnor Capital Management LLC acquired a new position in Wageworks during the second quarter valued at $387,000. Atairos Group Inc. lifted its position in Wageworks by 148.6% during the second quarter. Atairos Group Inc. now owns 492,911 shares of the business services provider’s stock valued at $25,035,000 after purchasing an additional 294,661 shares during the period. Kavar Capital Partners LLC acquired a new position in Wageworks during the second quarter valued at $66,000. Mason Street Advisors LLC lifted its position in Wageworks by 3.4% during the first quarter. Mason Street Advisors LLC now owns 12,730 shares of the business services provider’s stock valued at $481,000 after purchasing an additional 421 shares during the period. Finally, Aperio Group LLC lifted its position in Wageworks by 2.4% during the second quarter. Aperio Group LLC now owns 31,331 shares of the business services provider’s stock valued at $1,591,000 after purchasing an additional 737 shares during the period. 96.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on WAGE shares. William Blair downgraded shares of Wageworks from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 27th. Stifel Nicolaus downgraded shares of Wageworks from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Monday, July 15th. SunTrust Banks downgraded shares of Wageworks from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. JMP Securities downgraded shares of Wageworks from an “outperform” rating to a “market perform” rating in a research report on Friday, June 28th. Finally, Zacks Investment Research upgraded shares of Wageworks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average target price of $54.50.
Shares of Wageworks stock remained flat at $$51.34 during trading hours on Friday. The business’s fifty day simple moving average is $51.28 and its 200-day simple moving average is $46.98. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 62.61 and a beta of 1.40. Wageworks Inc has a 12-month low of $25.15 and a 12-month high of $53.85. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.25.
Wageworks (NYSE:WAGE) last issued its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.12). The firm had revenue of $108.63 million during the quarter, compared to analyst estimates of $118.10 million. Wageworks had a return on equity of 2.95% and a net margin of 2.17%. As a group, equities analysts predict that Wageworks Inc will post 1.08 earnings per share for the current fiscal year.
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.
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