Latest Stocks: Wageworks Inc (WAGE) Position Maintained by State Board of Administration of Florida Retirement System

Latest Stocks: Wageworks Inc (WAGE) Position Maintained by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System held its stake in shares of Wageworks Inc (NYSE:WAGE) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 23,192 shares of the business services provider’s stock at the end of the first quarter. State Board of Administration of Florida Retirement System’s holdings in Wageworks were worth $1,677,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. D. E. Shaw & Co. Inc. increased its stake in shares of Wageworks by 25.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 200,809 shares of the business services provider’s stock worth $12,232,000 after buying an additional 40,539 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Wageworks during the fourth quarter worth $21,240,000. Comerica Bank increased its stake in shares of Wageworks by 5.9% in the fourth quarter. Comerica Bank now owns 39,464 shares of the business services provider’s stock worth $2,869,000 after buying an additional 2,191 shares during the period. State Street Corp increased its stake in shares of Wageworks by 7.2% in the fourth quarter. State Street Corp now owns 781,448 shares of the business services provider’s stock worth $56,658,000 after buying an additional 52,563 shares during the period. Finally, Columbia Wanger Asset Management LLC increased its stake in shares of Wageworks by 34.2% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 1,471,424 shares of the business services provider’s stock worth $106,678,000 after buying an additional 374,840 shares during the period.

Wageworks Inc (NYSE WAGE) opened at 71.20 on Tuesday. The company has a 50-day moving average of $71.87 and a 200 day moving average of $73.04. The company has a market cap of $2.65 billion, a P/E ratio of 105.64 and a beta of 1.04. Wageworks Inc has a 52 week low of $55.65 and a 52 week high of $80.50.

Wageworks (NYSE:WAGE) last issued its quarterly earnings data on Thursday, May 4th. The business services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $125 million during the quarter, compared to analysts’ expectations of $122.08 million. Wageworks had a net margin of 5.98% and a return on equity of 9.09%. Wageworks’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. On average, equities analysts forecast that Wageworks Inc will post $1.78 EPS for the current fiscal year.

WAGE has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price target on shares of Wageworks from $74.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, February 24th. Chardan Capital upped their price target on shares of Wageworks from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, February 24th. William Blair reaffirmed an “outperform” rating on shares of Wageworks in a report on Friday, February 24th. Zacks Investment Research raised shares of Wageworks from a “sell” rating to a “hold” rating in a report on Thursday, March 2nd. Finally, Wells Fargo & Co downgraded shares of Wageworks from an “outperform” rating to a “market perform” rating in a report on Monday, March 27th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Wageworks has a consensus rating of “Buy” and a consensus price target of $76.31.

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