Pier Capital buys $7,637,953 stake in Wageworks Inc (WAGE)

Wageworks Inc (WAGE) : Pier Capital scooped up 3,092 additional shares in Wageworks Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 129,853 shares of Wageworks Inc which is valued at $7,637,953.Wageworks Inc makes up approximately 1.30% of Pier Capital’s portfolio.

Other Hedge Funds, Including , Weatherbie Capital reduced its stake in WAGE by selling 196,042 shares or 35.16% in the most recent quarter. The Hedge Fund company now holds 361,543 shares of WAGE which is valued at $21,265,959. Wageworks Inc makes up approx 2.78% of Weatherbie Capital’s portfolio.Victory Capital Management Inc boosted its stake in WAGE in the latest quarter, The investment management firm added 692 additional shares and now holds a total of 1,585 shares of Wageworks Inc which is valued at $92,833.Scout Investments boosted its stake in WAGE in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 38,450 shares of Wageworks Inc which is valued at $2,252,017. Wageworks Inc makes up approx 0.06% of Scout Investments’s portfolio. Polaris Capital Management sold out all of its stake in WAGE during the most recent quarter. The investment firm sold 7,985 shares of WAGE which is valued $485,328.

Wageworks Inc opened for trading at $61.94 and hit $62.82 on the upside on Thursday, eventually ending the session at $62.78, with a gain of 1.60% or 0.99 points. The heightened volatility saw the trading volume jump to 1,84,191 shares. Company has a market cap of $2,298 M.

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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