Summit Creek Advisors LLC Sells 1,755 Shares of WageWorks, Inc. (WAGE)

Summit Creek Advisors LLC decreased its position in shares of WageWorks, Inc. (NYSE:WAGE) by 0.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 269,438 shares of the business services provider’s stock after selling 1,755 shares during the period. WageWorks accounts for approximately 3.1% of Summit Creek Advisors LLC’s portfolio, making the stock its largest holding. Summit Creek Advisors LLC owned approximately 0.68% of WageWorks worth $16,705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Ameritas Investment Partners Inc. lifted its stake in shares of WageWorks by 3.9% during the second quarter. Ameritas Investment Partners Inc. now owns 3,275 shares of the business services provider’s stock valued at $220,000 after buying an additional 122 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of WageWorks by 9.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the business services provider’s stock valued at $107,000 after buying an additional 139 shares during the period. Advisor Group Inc. lifted its stake in shares of WageWorks by 10.8% during the second quarter. Advisor Group Inc. now owns 1,594 shares of the business services provider’s stock valued at $107,000 after buying an additional 156 shares during the period. Amalgamated Bank raised its stake in WageWorks by 7.3% during the second quarter. Amalgamated Bank now owns 5,182 shares of the business services provider’s stock worth $348,000 after purchasing an additional 354 shares during the period. Finally, Profund Advisors LLC raised its stake in WageWorks by 5.7% during the second quarter. Profund Advisors LLC now owns 6,974 shares of the business services provider’s stock worth $469,000 after purchasing an additional 379 shares during the period.

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

WAGE has been the topic of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $80.00 price target (down previously from $85.00) on shares of WageWorks in a research note on Thursday, November 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price target on shares of WageWorks in a research note on Friday, October 6th. ValuEngine raised shares of WageWorks from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of WageWorks from a “strong-buy” rating to a “hold” rating in a research note on Saturday. Finally, BidaskClub downgraded shares of WageWorks from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $79.75.

WageWorks, Inc. (NYSE WAGE) traded down $0.65 during trading hours on Tuesday, reaching $61.25. 256,100 shares of the company’s stock were exchanged, compared to its average volume of 292,233. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $2,460.00, a P/E ratio of 52.35, a P/E/G ratio of 2.74 and a beta of 0.90. WageWorks, Inc. has a 12 month low of $56.90 and a 12 month high of $80.50.

WageWorks (NYSE:WAGE) last posted its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.04. WageWorks had a net margin of 9.87% and a return on equity of 9.60%. The company had revenue of $115.70 million for the quarter, compared to the consensus estimate of $117.09 million. During the same quarter last year, the firm posted $0.34 earnings per share. WageWorks’s revenue was up 30.1% on a year-over-year basis. research analysts anticipate that WageWorks, Inc. will post 1.25 earnings per share for the current year.

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About WageWorks

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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