DF Dent & Co. Inc. Reduces Position in Wageworks Inc (WAGE)

DF Dent & Co. Inc. lessened its stake in Wageworks Inc (NYSE:WAGE) by 40.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,286,713 shares of the business services provider’s stock after selling 874,604 shares during the period. DF Dent & Co. Inc. owned about 3.25% of Wageworks worth $64,336,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WAGE. FMR LLC increased its holdings in Wageworks by 218.5% in the 2nd quarter. FMR LLC now owns 2,178,770 shares of the business services provider’s stock valued at $108,938,000 after purchasing an additional 1,494,766 shares during the last quarter. BlackRock Inc. increased its holdings in Wageworks by 7.9% in the 2nd quarter. BlackRock Inc. now owns 5,548,500 shares of the business services provider’s stock valued at $277,424,000 after purchasing an additional 406,916 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in Wageworks by 28.3% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,842,771 shares of the business services provider’s stock valued at $92,139,000 after purchasing an additional 406,305 shares during the last quarter. Fred Alger Management Inc. increased its holdings in Wageworks by 24.1% in the 2nd quarter. Fred Alger Management Inc. now owns 1,494,670 shares of the business services provider’s stock valued at $74,734,000 after purchasing an additional 290,577 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Wageworks by 220.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 418,718 shares of the business services provider’s stock valued at $18,926,000 after purchasing an additional 287,985 shares during the last quarter.

WAGE has been the subject of several research reports. Zacks Investment Research upgraded shares of Wageworks from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. JMP Securities downgraded shares of Wageworks from an “outperform” rating to a “market perform” rating in a research note on Thursday. SunTrust Banks dropped their price target on shares of Wageworks to $62.00 and set a “buy” rating for the company in a research note on Wednesday, May 23rd. ValuEngine upgraded shares of Wageworks from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Finally, William Blair initiated coverage on shares of Wageworks in a research note on Wednesday, May 30th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Wageworks currently has a consensus rating of “Hold” and a consensus price target of $65.40.

NYSE:WAGE opened at $40.95 on Friday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 39.68 and a beta of 1.37. Wageworks Inc has a 52 week low of $38.40 and a 52 week high of $65.80.

Wageworks Profile

WageWorks, Inc engages in the provision of consumer-directed benefits. It offers health card programs, health savings account, pre-tax spending accounts, medical and dental reimbursement arrangements, and transit and parking programs. The company was founded by Clem O’Donnell and Jon Kessler on January 28, 2000 and is headquartered in San Mateo, CA.

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Institutional Ownership by Quarter for Wageworks (NYSE:WAGE)

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