Crestline Management LP Acquires New Position in WageWorks, Inc. (WAGE)

Crestline Management LP acquired a new stake in WageWorks, Inc. (NYSE:WAGE) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 39,106 shares of the business services provider’s stock, valued at approximately $2,374,000. Crestline Management LP owned about 0.10% of WageWorks as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 buying an additional 139 shares in the last quarter. Advisor Group Inc. grew its holdings in WageWorks by 10.8% in the 2nd quarter. Advisor Group Inc. now owns 1,594 shares of the business services provider’s stock valued at $107,000 after buying an additional 156 shares in the last quarter. Zions Bancorporation purchased a new stake in WageWorks in the 3rd quarter valued at $105,000. First Mercantile Trust Co. grew its holdings in WageWorks by 20.7% in the 2nd quarter. First Mercantile Trust Co. now owns 1,925 shares of the business services provider’s stock valued at $129,000 after buying an additional 330 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in WageWorks by 85.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,964 shares of the business services provider’s stock valued at $199,000 after buying an additional 1,364 shares in the last quarter.

In related news, insider Kimberly L. Wilford sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $62.13, for a total transaction of $3,106,500.00. Following the completion of the transaction, the insider now directly owns 93,238 shares in the company, valued at approximately $5,792,876.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John William Larson sold 30,500 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $63.76, for a total value of $1,944,680.00. Following the transaction, the director now owns 42,930 shares of the company’s stock, valued at $2,737,216.80. The disclosure for this sale can be found here. Corporate insiders own 3.54% of the company’s stock.

Several analysts have issued reports on WAGE shares. Stifel Nicolaus restated a “buy” rating and issued a $80.00 target price (down from $85.00) on shares of WageWorks in a report on Thursday, November 9th. Needham & Company LLC reiterated a “buy” rating and set a $82.00 price target on shares of WageWorks in a report on Friday, October 6th. ValuEngine upgraded WageWorks from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research upgraded WageWorks from a “sell” rating to a “hold” rating and set a $70.00 price target for the company in a report on Tuesday, November 14th. Finally, BidaskClub cut WageWorks from a “sell” rating to a “strong sell” rating in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $79.75.

WageWorks, Inc. (WAGE) traded down $0.45 during midday trading on Tuesday, hitting $61.55. The stock had a trading volume of 286,400 shares, compared to its average volume of 291,205. The stock has a market cap of $2,457.47, a PE ratio of 49.60, a PEG ratio of 3.31 and a beta of 0.90. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.41. WageWorks, Inc. has a fifty-two week low of $56.90 and a fifty-two week high of $80.50.

WageWorks (NYSE:WAGE) last released its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $115.70 million during the quarter, compared to analysts’ expectations of $117.09 million. WageWorks had a return on equity of 9.60% and a net margin of 9.87%. The company’s revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS. analysts expect that WageWorks, Inc. will post 1.25 EPS for the current fiscal year.

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About WageWorks

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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