Prospect Capital Advisors Lowers stake in Wageworks Inc (WAGE)

Wageworks Inc (WAGE) : Prospect Capital Advisors reduced its stake in Wageworks Inc by 17.76% during the most recent quarter end. The investment management company now holds a total of 127,100 shares of Wageworks Inc which is valued at $7.1 Million after selling 27,450 shares in Wageworks Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.Wageworks Inc makes up approximately 8.39% of Prospect Capital Advisors’s portfolio.

Other Hedge Funds, Including , Assetmark Inc boosted its stake in WAGE in the latest quarter, The investment management firm added 86 additional shares and now holds a total of 101 shares of Wageworks Inc which is valued at $5,640.First Trust Advisors Lp reduced its stake in WAGE by selling 16,498 shares or 63.98% in the most recent quarter. The Hedge Fund company now holds 9,289 shares of WAGE which is valued at $518,698.New York State Common Retirement Fund boosted its stake in WAGE in the latest quarter, The investment management firm added 1,800 additional shares and now holds a total of 36,500 shares of Wageworks Inc which is valued at $2 Million. Nisa Investment Advisors L.l.c. added WAGE to its portfolio by purchasing 7,100 company shares during the most recent quarter which is valued at $382,406. Wageworks Inc makes up approx 0.01% of Nisa Investment Advisors L.l.c.’s portfolio.Aperio Group boosted its stake in WAGE in the latest quarter, The investment management firm added 1,585 additional shares and now holds a total of 6,044 shares of Wageworks Inc which is valued at $325,530.

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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