Weatherbie Capital Lowers stake in Wageworks Inc (WAGE)

Wageworks Inc (WAGE) : Weatherbie Capital reduced its stake in Wageworks Inc by 35.16% during the most recent quarter end. The investment management company now holds a total of 361,543 shares of Wageworks Inc which is valued at $21,265,959 after selling 196,042 shares in Wageworks Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Wageworks Inc makes up approximately 2.78% of Weatherbie Capital’s portfolio.

Other Hedge Funds, Including , Tiaa Cref Investment Management boosted its stake in WAGE in the latest quarter, The investment management firm added 3,884 additional shares and now holds a total of 144,604 shares of Wageworks Inc which is valued at $8,505,607. Wageworks Inc makes up approx 0.01% of Tiaa Cref Investment Management’s portfolio. Oxford Asset Management added WAGE to its portfolio by purchasing 41,519 company shares during the most recent quarter which is valued at $2,431,768. Wageworks Inc makes up approx 0.10% of Oxford Asset Management’s portfolio.Louisiana State Employees Retirement System boosted its stake in WAGE in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 16,000 shares of Wageworks Inc which is valued at $990,080. Wageworks Inc makes up approx 0.05% of Louisiana State Employees Retirement System’s portfolio.

Wageworks Inc opened for trading at $60.99 and hit $61.68 on the upside on Tuesday, eventually ending the session at $61.41, with a gain of 0.95% or 0.58 points. The heightened volatility saw the trading volume jump to 1,44,479 shares. Company has a market cap of $2,247 M.

On the company’s financial health, Wageworks Inc reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.34. The company had revenue of $87.73 million for the quarter, compared to analysts expectations of $87.49 million. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 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 .

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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