Sterling Capital Management LLC Takes Position in WageWorks, Inc. (WAGE)

Sterling Capital Management LLC purchased a new stake in WageWorks, Inc. (NYSE:WAGE) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,478 shares of the business services provider’s stock, valued at approximately $575,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WAGE. DF Dent & Co. Inc. increased its holdings in shares of WageWorks by 10.8% in the 3rd quarter. DF Dent & Co. Inc. now owns 1,690,718 shares of the business services provider’s stock valued at $102,627,000 after purchasing an additional 165,179 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of WageWorks by 6.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 426,395 shares of the business services provider’s stock valued at $25,882,000 after purchasing an additional 27,118 shares during the period. California Public Employees Retirement System increased its holdings in shares of WageWorks by 5.2% in the 3rd quarter. California Public Employees Retirement System now owns 60,690 shares of the business services provider’s stock valued at $3,684,000 after purchasing an additional 2,990 shares during the period. Cubist Systematic Strategies LLC acquired a new position in WageWorks in the third quarter worth approximately $438,000. Finally, Point72 Asset Management L.P. acquired a new position in WageWorks in the third quarter worth approximately $22,206,000.

A number of brokerages have issued reports on WAGE. BidaskClub raised WageWorks from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 28th. Zacks Investment Research raised WageWorks from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Needham & Company LLC reissued a “buy” rating and issued a $82.00 price objective on shares of WageWorks in a research report on Friday, October 6th. Stifel Nicolaus reissued a “buy” rating and issued a $80.00 price objective (down from $85.00) on shares of WageWorks in a research report on Thursday, November 9th. Finally, ValuEngine raised WageWorks from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $79.75.

In related news, Director John William Larson sold 30,500 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $63.76, for a total value of $1,944,680.00. Following the transaction, the director now owns 42,930 shares in the company, valued at $2,737,216.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kimberly L. Wilford sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $62.13, for a total value of $3,106,500.00. Following the completion of the transaction, the insider now owns 93,238 shares in the company, valued at approximately $5,792,876.94. The disclosure for this sale can be found here. Company insiders own 3.54% of the company’s stock.

WageWorks, Inc. (NYSE:WAGE) traded down $0.65 during trading on Friday, reaching $61.25. The company’s stock had a trading volume of 256,151 shares, compared to its average volume of 265,831. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.41. WageWorks, Inc. has a 1 year low of $56.90 and a 1 year high of $80.50. The firm has a market capitalization of $2,453.50, a price-to-earnings ratio of 52.35, a P/E/G ratio of 2.77 and a beta of 0.90.

WageWorks (NYSE:WAGE) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. WageWorks had a return on equity of 9.60% and a net margin of 9.87%. The firm had revenue of $115.70 million during the quarter, compared to analyst estimates of $117.09 million. During the same period in the prior year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. sell-side analysts forecast that WageWorks, Inc. will post 1.25 EPS for the current fiscal year.

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WageWorks 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.

Institutional Ownership by Quarter for WageWorks (NYSE:WAGE)

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