Summit Creek Advisors buys $20,095,078 stake in Wageworks Inc (WAGE)

Wageworks Inc (WAGE) : Summit Creek Advisors scooped up 24,809 additional shares in Wageworks Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 20, 2016. The investment management firm now holds a total of 376,665 shares of Wageworks Inc which is valued at $20,095,078.Wageworks Inc makes up approximately 3.10% of Summit Creek Advisors’s portfolio.

Wageworks Inc closed down -0.31 points or -0.58% at $53.35 with 2,70,199 shares getting traded on Friday. Post opening the session at $53.6, the shares hit an intraday low of $52.8901 and an intraday high of $53.76 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , First Western Capital Management Co reduced its stake in WAGE by selling 3,700 shares or 13.72% in the most recent quarter. The Hedge Fund company now holds 23,265 shares of WAGE which is valued at $1,241,188. Wageworks Inc makes up approx 0.43% of First Western Capital Management Co’s portfolio.New York State Teachers Retirement System boosted its stake in WAGE in the latest quarter, The investment management firm added 2,800 additional shares and now holds a total of 53,361 shares of Wageworks Inc which is valued at $2,846,809. Wageworks Inc makes up approx 0.01% of New York State Teachers Retirement System’s portfolio. Gemmer Asset Management added WAGE to its portfolio by purchasing 86 company shares during the most recent quarter which is valued at $4,501.Falcon Point Capital boosted its stake in WAGE in the latest quarter, The investment management firm added 96,376 additional shares and now holds a total of 362,285 shares of Wageworks Inc which is valued at $18,961,997. Wageworks Inc makes up approx 3.34% of Falcon Point Capital’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.

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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