Ranger Investment Management Lowers stake in Wageworks Inc (WAGE)

Wageworks Inc (WAGE) : Ranger Investment Management reduced its stake in Wageworks Inc by 24.86% during the most recent quarter end. The investment management company now holds a total of 865,005 shares of Wageworks Inc which is valued at $50,879,594 after selling 286,160 shares in Wageworks Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Wageworks Inc makes up approximately 2.97% of Ranger Investment Management’s portfolio.

Other Hedge Funds, Including , Df Dent Co Inc boosted its stake in WAGE in the latest quarter, The investment management firm added 8,471 additional shares and now holds a total of 2,068,905 shares of Wageworks Inc which is valued at $121,692,992. Wageworks Inc makes up approx 3.27% of Df Dent Co Inc’s portfolio.Comerica Bank reduced its stake in WAGE by selling 314 shares or 0.85% in the most recent quarter. The Hedge Fund company now holds 36,801 shares of WAGE which is valued at $2,164,635. Wageworks Inc makes up approx 0.02% of Comerica Bank’s portfolio.Fmr reduced its stake in WAGE by selling 1,009,960 shares or 18.5% in the most recent quarter. The Hedge Fund company now holds 4,448,018 shares of WAGE which is valued at $261,632,419. Wageworks Inc makes up approx 0.03% of Fmr’s portfolio.Pinebridge Investments boosted its stake in WAGE in the latest quarter, The investment management firm added 204 additional shares and now holds a total of 4,595 shares of Wageworks Inc which is valued at $270,278. Wageworks Inc makes up approx 0.01% of Pinebridge Investments’s portfolio.

Wageworks Inc closed down -0.32 points or -0.52% at $60.98 with 74,872 shares getting traded on Monday. Post opening the session at $61.74, the shares hit an intraday low of $60.91 and an intraday high of $61.81 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Wageworks Inc reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.34. The company had revenue of $87.73 million for the quarter, compared to analysts expectations of $87.49 million. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on Wageworks Inc. Company shares were Reiterated by Stifel on Jun 9, 2016 to “Buy”, Firm has raised the Price Target to $ 69 from a previous price target of $59 .

WageWorks Inc. is engaged in administering Consumer-Directed Benefits (CDBs) which empower employees to save money on taxes while also providing corporate tax advantages for employers. The Company is focused on 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) Commuter Benefit Services including transit and parking programs wellness programs COBRA and other employee benefits.

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