River Road Asset Management LLC Invests $4.10 Million in Wageworks Inc (WAGE) Stock

River Road Asset Management LLC bought a new stake in shares of Wageworks Inc (NYSE:WAGE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 95,893 shares of the business services provider’s stock, valued at approximately $4,099,000.

Other hedge funds have also made changes to their positions in the company. CenterStar Asset Management LLC purchased a new stake in Wageworks during the second quarter valued at approximately $114,000. Polen Capital Management LLC purchased a new stake in Wageworks during the second quarter valued at approximately $207,000. Xact Kapitalforvaltning AB increased its holdings in Wageworks by 67.9% during the first quarter. Xact Kapitalforvaltning AB now owns 6,430 shares of the business services provider’s stock valued at $291,000 after buying an additional 2,600 shares during the last quarter. LPL Financial LLC increased its holdings in Wageworks by 26.8% during the first quarter. LPL Financial LLC now owns 6,646 shares of the business services provider’s stock valued at $299,000 after buying an additional 1,404 shares during the last quarter. Finally, Ashfield Capital Partners LLC purchased a new stake in Wageworks during the second quarter valued at approximately $355,000.

A number of brokerages have commented on WAGE. Wells Fargo & Co set a $45.00 target price on shares of Wageworks and gave the company a “hold” rating in a report on Tuesday, October 16th. Zacks Investment Research cut shares of Wageworks from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 18th. SunTrust Banks reduced their target price on shares of Wageworks to $56.00 and set a “buy” rating for the company in a report on Thursday, September 13th. Finally, JMP Securities cut shares of Wageworks from an “outperform” rating to a “market perform” rating in a report on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $58.00.

WAGE opened at $41.32 on Tuesday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 33.10 and a beta of 1.29. Wageworks Inc has a 1-year low of $38.40 and a 1-year high of $65.75.

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Wageworks Profile

WageWorks, Inc engages in the provision of consumer-directed benefits. It offers health card programs, health savings account, pre-tax spending accounts, medical and dental reimbursement arrangements, and transit and parking programs. The company was founded by Clem O’Donnell and Jon Kessler on January 28, 2000 and is headquartered in San Mateo, CA.

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Institutional Ownership by Quarter for Wageworks (NYSE:WAGE)

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