Large Inflow of Money Detected in WageWorks

WageWorks (WAGE) : WageWorks (WAGE) had a healthy money flow of $2.99 million into the stock during the Wednesdays trading session. The value of bullish trades on upticks was $3.91 million, whereas, investors only sold shares worth $0.92 million on downticks. The stock closed the day with an up-down ratio of 4.25.The money flow in the block trades to the tune of $3.08 million shows that the bulls were dominant, the large players used the weakness in the stock to accumulate it for the long-term. $3.08 million worth of transactions were on upticks. WageWorks (WAGE) stock slid $0.03 intraday and traded at 61.42, a change of -0.05% over previous days close. However, for the week, the company shares are 0.79% compared to previous weeks close.


Also, Equity Analysts at the Standpoint Research maintains the rating on WageWorks (NYSE:WAGE). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency raises the price target from $59 per share to $69 per share. The rating by the firm was issued on June 9, 2016.

WageWorks (NYSE:WAGE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $61.55 and $61.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $62.50. The buying momentum continued till the end and the stock did not give up its gains. It closed at $61.70, notching a gain of 0.41% for the day. The total traded volume was 169,292 . The stock had closed at $61.45 on the previous day.

The stock has recorded a 20-day Moving Average of 3.8% and the 50-Day Moving Average is 6.62%. In a related news,The (Chief Executive Officer) of Wageworks, Inc., Jackson Joseph L. sold 96,081 shares at $55.73 on May 20, 2016. The Insider selling transaction had a total value worth of $5,354,594. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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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