Falcon Point Capital buys $18,961,997 stake in Wageworks Inc (WAGE)

Wageworks Inc (WAGE) : Falcon Point Capital scooped up 96,376 additional shares in Wageworks Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 15, 2016. The investment management firm now holds a total of 362,285 shares of Wageworks Inc which is valued at $18,961,997.Wageworks Inc makes up approximately 3.34% of Falcon Point Capital’s portfolio.

Wageworks Inc opened for trading at $53.17 and hit $54.14 on the upside on Wednesday, eventually ending the session at $53.66, with a gain of 0.51% or 0.27 points. The heightened volatility saw the trading volume jump to 2,00,943 shares. Company has a market cap of $1,929 M.

Other Hedge Funds, Including , Gemmer Asset Management added WAGE to its portfolio by purchasing 86 company shares during the most recent quarter which is valued at $4,501. Franklin Street Advisors Inc Nc added WAGE to its portfolio by purchasing 5,850 company shares during the most recent quarter which is valued at $306,189. Wageworks Inc makes up approx 0.06% of Franklin Street Advisors Inc Nc’s portfolio.Capstone Asset Management Co reduced its stake in WAGE by selling 670 shares or 6.06% in the most recent quarter. The Hedge Fund company now holds 10,393 shares of WAGE which is valued at $543,970. Wageworks Inc makes up approx 0.02% of Capstone Asset Management Co’s portfolio.Eagle Asset Management Inc reduced its stake in WAGE by selling 4,475 shares or 5.31% in the most recent quarter. The Hedge Fund company now holds 79,873 shares of WAGE which is valued at $3,964,896. Wageworks Inc makes up approx 0.03% of Eagle Asset Management Inc’s portfolio.Conestoga Capital Advisors boosted its stake in WAGE in the latest quarter, The investment management firm added 367,479 additional shares and now holds a total of 497,580 shares of Wageworks Inc which is valued at $24,699,871. Wageworks Inc makes up approx 1.71% of Conestoga Capital Advisors’s portfolio.

On the company’s financial health, Wageworks Inc reported $0.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $0.28. The company had revenue of $83.10 million for the quarter, compared to analysts expectations of $81.84 million. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Many Wall Street Analysts have commented on Wageworks Inc. 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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