FNY Managed Accounts LLC Acquires Shares of 7,000 WageWorks, Inc. (WAGE)

FNY Managed Accounts LLC acquired a new stake in WageWorks, Inc. (NYSE:WAGE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,000 shares of the business services provider’s stock, valued at approximately $470,000. WageWorks comprises approximately 4.7% of FNY Managed Accounts LLC’s investment portfolio, making the stock its 4th biggest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Miles Capital Inc. raised its position in WageWorks by 0.3% in the 1st quarter. Miles Capital Inc. now owns 3,098 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 8 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in WageWorks by 0.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,370 shares of the business services provider’s stock valued at $605,000 after purchasing an additional 70 shares during the last quarter. Teacher Retirement System of Texas raised its position in WageWorks by 2.5% in the 1st quarter. Teacher Retirement System of Texas now owns 2,969 shares of the business services provider’s stock valued at $215,000 after purchasing an additional 73 shares during the last quarter. Victory Capital Management Inc. raised its position in WageWorks by 8.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,819 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 134 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in WageWorks by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 139 shares during the last quarter.

Several equities research analysts have recently commented on WAGE shares. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 target price on shares of WageWorks in a research note on Monday, July 17th. Zacks Investment Research cut WageWorks from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th. Finally, BidaskClub cut WageWorks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $80.04.

WageWorks, Inc. (NYSE WAGE) traded up 1.02% during midday trading on Monday, hitting $59.15. The stock had a trading volume of 60,054 shares. The company has a 50-day moving average of $59.92 and a 200-day moving average of $68.76. WageWorks, Inc. has a 1-year low of $55.65 and a 1-year high of $80.50. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 54.02 and a beta of 0.84.

WageWorks (NYSE:WAGE) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.11. The firm had revenue of $119.90 million for the quarter, compared to analysts’ expectations of $119.18 million. WageWorks had a net margin of 9.60% and a return on equity of 9.52%. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. Equities research analysts forecast that WageWorks, Inc. will post $1.75 EPS for the current year.

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In related news, CEO Joseph L. Jackson sold 495,148 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $69.25, for a total value of $34,288,999.00. Following the completion of the transaction, the chief executive officer now directly owns 103,363 shares in the company, valued at $7,157,887.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Edgar O. Montes sold 50,000 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $69.25, for a total transaction of $3,462,500.00. Following the completion of the transaction, the chief operating officer now owns 71,895 shares of the company’s stock, valued at $4,978,728.75. The disclosure for this sale can be found here. 3.54% of the stock is owned by insiders.

WageWorks Profile

WageWorks, Inc is engaged in administering Consumer-Directed Benefits (CDBs). The Company administers CBDs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, Consolidated Omnibus Budget Reconciliation Act (COBRA) and other employee benefits.

Institutional Ownership by Quarter for WageWorks (NYSE:WAGE)

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