Hamilton Lane Advisors Lowers stake in Wageworks Inc (WAGE)

Wageworks Inc (WAGE) : Hamilton Lane Advisors reduced its stake in Wageworks Inc by 20.01% during the most recent quarter end. The investment management company now holds a total of 44,195 shares of Wageworks Inc which is valued at $2,697,221 after selling 11,059 shares in Wageworks Inc , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.Wageworks Inc makes up approximately 1.27% of Hamilton Lane Advisors’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp boosted its stake in WAGE in the latest quarter, The investment management firm added 218 additional shares and now holds a total of 422 shares of Wageworks Inc which is valued at $25,755.Franklin Street Advisors Inc Nc reduced its stake in WAGE by selling 1,925 shares or 32.91% in the most recent quarter. The Hedge Fund company now holds 3,925 shares of WAGE which is valued at $239,543. Wageworks Inc makes up approx 0.04% of Franklin Street Advisors Inc Nc’s portfolio.Gw&k Investment Management boosted its stake in WAGE in the latest quarter, The investment management firm added 52,358 additional shares and now holds a total of 376,979 shares of Wageworks Inc which is valued at $23,007,028. Wageworks Inc makes up approx 0.47% of Gw&k Investment Management’s portfolio.Mazama Capital Management Inc reduced its stake in WAGE by selling 38,838 shares or 60.13% in the most recent quarter. The Hedge Fund company now holds 25,750 shares of WAGE which is valued at $1,563,283. Wageworks Inc makes up approx 0.31% of Mazama Capital Management Inc’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in WAGE in the latest quarter, The investment management firm added 6,062 additional shares and now holds a total of 11,322 shares of Wageworks Inc which is valued at $687,359.

Wageworks Inc opened for trading at $60.87 and hit $61.46 on the upside on Friday, eventually ending the session at $60.94, with a gain of 0.45% or 0.27 points. The heightened volatility saw the trading volume jump to 1,88,168 shares. Company has a market cap of $2,208 M.

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 Jun 9, 2016 to “Buy”, Firm has raised the Price Target to $ 69 from a previous price target of $59 .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 .

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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