TimesSquare Capital Management LLC Sells 139,550 Shares of Wageworks Inc (NYSE:WAGE)

TimesSquare Capital Management LLC cut its stake in Wageworks Inc (NYSE:WAGE) by 6.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,909,283 shares of the business services provider’s stock after selling 139,550 shares during the period. TimesSquare Capital Management LLC’s holdings in Wageworks were worth $96,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Royce & Associates LP increased its position in Wageworks by 30.0% during the first quarter. Royce & Associates LP now owns 1,290 shares of the business services provider’s stock worth $49,000 after acquiring an additional 298 shares during the period. Kavar Capital Partners LLC bought a new position in Wageworks during the second quarter worth about $66,000. Quantamental Technologies LLC increased its position in Wageworks by 109.6% during the first quarter. Quantamental Technologies LLC now owns 4,587 shares of the business services provider’s stock worth $173,000 after acquiring an additional 2,399 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Wageworks during the first quarter worth about $226,000. Finally, OLD National Bancorp IN bought a new position in Wageworks during the first quarter worth about $227,000. 97.93% of the stock is currently owned by institutional investors.

A number of research firms recently commented on WAGE. Wells Fargo & Co lowered shares of Wageworks from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $45.00 to $50.00 in a research report on Tuesday, May 7th. Zacks Investment Research reaffirmed a “hold” rating on shares of Wageworks in a research report on Saturday, June 29th. SunTrust Banks lowered shares of Wageworks from a “buy” rating to a “hold” rating in a research report on Friday, June 28th. William Blair lowered shares of Wageworks from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 27th. Finally, Stifel Nicolaus lowered shares of Wageworks from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $54.50.

NYSE:WAGE traded up $0.02 during mid-day trading on Friday, reaching $51.26. 9,008 shares of the company’s stock were exchanged, compared to its average volume of 704,733. Wageworks Inc has a one year low of $25.15 and a one year high of $53.85. The firm has a market capitalization of $2.07 billion, a PE ratio of 62.49 and a beta of 1.40. The business’s fifty day simple moving average is $50.97 and its two-hundred day simple moving average is $44.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 1.39.

Wageworks (NYSE:WAGE) last announced its quarterly earnings data on Friday, June 28th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). The firm had revenue of $118.23 million for the quarter, compared to analyst estimates of $126.19 million. Wageworks had a return on equity of 2.19% and a net margin of 2.17%. As a group, equities research analysts forecast that Wageworks Inc will post 1.08 EPS for the current year.

Wageworks Company Profile

WageWorks, Inc is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to 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), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.

Read More: What are catch-up contributions?

Want to see what other hedge funds are holding WAGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wageworks Inc (NYSE:WAGE).

Institutional Ownership by Quarter for Wageworks (NYSE:WAGE)

Receive News & Ratings for Wageworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wageworks and related companies with MarketBeat.com's FREE daily email newsletter.