Summit Creek Advisors Lowers stake in Wageworks Inc (WAGE)

Wageworks Inc (WAGE) : Summit Creek Advisors reduced its stake in Wageworks Inc by 6.16% during the most recent quarter end. The investment management company now holds a total of 353,470 shares of Wageworks Inc which is valued at $21,957,556 after selling 23,195 shares in Wageworks Inc , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Wageworks Inc makes up approximately 3.56% of Summit Creek Advisors’s portfolio.

Other Hedge Funds, Including , Eagle Asset Management Inc boosted its stake in WAGE in the latest quarter, The investment management firm added 2,476 additional shares and now holds a total of 82,349 shares of Wageworks Inc which is valued at $5,080,933. Wageworks Inc makes up approx 0.03% of Eagle Asset Management Inc’s portfolio.Capstone Asset Management Co boosted its stake in WAGE in the latest quarter, The investment management firm added 520 additional shares and now holds a total of 10,913 shares of Wageworks Inc which is valued at $666,020. Wageworks Inc makes up approx 0.02% of Capstone Asset Management Co’s portfolio.First Western Capital Management Co reduced its stake in WAGE by selling 5,575 shares or 23.96% in the most recent quarter. The Hedge Fund company now holds 17,690 shares of WAGE which is valued at $1,079,621. Wageworks Inc makes up approx 0.38% of First Western Capital Management Co’s portfolio. Cohen Capital Management added WAGE to its portfolio by purchasing 6,498 company shares during the most recent quarter which is valued at $396,573. Wageworks Inc makes up approx 0.11% of Cohen Capital Management’s portfolio.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.

Wageworks Inc opened for trading at $61.55 and hit $62.5 on the upside on Wednesday, eventually ending the session at $61.7, with a gain of 0.41% or 0.25 points. The heightened volatility saw the trading volume jump to 1,69,292 shares. Company has a market cap of $2,235 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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