Elk Creek Partners Lowers stake in Wageworks Inc (WAGE)

Wageworks Inc (WAGE) : Elk Creek Partners reduced its stake in Wageworks Inc by 20.97% during the most recent quarter end. The investment management company now holds a total of 578,721 shares of Wageworks Inc which is valued at $32.3 Million after selling 153,598 shares in Wageworks Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Wageworks Inc makes up approximately 2.45% of Elk Creek Partners’s portfolio.

Other Hedge Funds, Including , Employees Retirement System Of Texas added WAGE to its portfolio by purchasing 41,000 company shares during the most recent quarter which is valued at $2.3 Million. Wageworks Inc makes up approx 0.03% of Employees Retirement System Of Texas’s portfolio. Airain Ltd sold out all of its stake in WAGE during the most recent quarter. The investment firm sold 4,759 shares of WAGE which is valued $265,743. Ftb Advisors added WAGE to its portfolio by purchasing 21 company shares during the most recent quarter which is valued at $1,173.Swiss National Bank boosted its stake in WAGE in the latest quarter, The investment management firm added 11,900 additional shares and now holds a total of 58,500 shares of Wageworks Inc which is valued at $3.2 Million. Wageworks Inc makes up approx 0.01% of Swiss National Bank’s portfolio.

Wageworks Inc closed down -1.1 points or -1.93% at $55.98 with 1,62,669 shares getting traded on Wednesday. Post opening the session at $57, the shares hit an intraday low of $55.77 and an intraday high of $57.6999 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Wageworks Inc reported $0.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.29. The company had revenue of $87.00 million for the quarter, compared to analysts expectations of $86.33 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Many Wall Street Analysts have commented on Wageworks Inc. Company shares were Reiterated by Stifel on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 59 from a previous price target of $56 .Company shares were Reiterated by Stifel on Apr 4, 2016 to “Buy”, Firm has raised the Price Target to $ 56 from a previous price target of $55 .Shares were Reiterated by Needham on Feb 19, 2016 to “Buy” and Lowered the Price Target to $ 55 from a previous price target of $57 .

WageWorks Inc. is engaged in administering Consumer-Directed Benefits (CDBs) which empower employees to save money on taxes while also providing corporate tax advantages for employers. The Company is focused on 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) Commuter Benefit Services including transit and parking programs wellness programs COBRA and other employee benefits.

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