Prudential Financial Inc. Has $2.83 Million Stake in Wageworks Inc (WAGE)

Prudential Financial Inc. trimmed its stake in shares of Wageworks Inc (NYSE:WAGE) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,278 shares of the business services provider’s stock after selling 2,490 shares during the quarter. Prudential Financial Inc.’s holdings in Wageworks were worth $2,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Wageworks by 15.9% during the second quarter. Victory Capital Management Inc. now owns 7,829 shares of the business services provider’s stock worth $391,000 after acquiring an additional 1,072 shares during the last quarter. Aperio Group LLC raised its position in shares of Wageworks by 5.6% during the second quarter. Aperio Group LLC now owns 22,272 shares of the business services provider’s stock worth $1,114,000 after acquiring an additional 1,187 shares during the last quarter. Bank of Montreal Can raised its position in shares of Wageworks by 17.1% during the second quarter. Bank of Montreal Can now owns 8,922 shares of the business services provider’s stock worth $446,000 after acquiring an additional 1,303 shares during the last quarter. Radnor Capital Management LLC increased its holdings in Wageworks by 12.2% in the third quarter. Radnor Capital Management LLC now owns 12,365 shares of the business services provider’s stock worth $529,000 after purchasing an additional 1,345 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Wageworks by 6.3% in the second quarter. Envestnet Asset Management Inc. now owns 28,212 shares of the business services provider’s stock worth $1,410,000 after purchasing an additional 1,666 shares in the last quarter.

A number of equities research analysts have weighed in on the company. JMP Securities downgraded Wageworks from an “outperform” rating to a “market perform” rating in a report on Thursday, September 13th. Zacks Investment Research downgraded Wageworks from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 18th. Wells Fargo & Co set a $45.00 target price on Wageworks and gave the stock a “hold” rating in a report on Tuesday, October 16th. Finally, SunTrust Banks lowered their target price on Wageworks to $56.00 and set a “buy” rating for the company in a report on Thursday, September 13th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $51.90.

Shares of WAGE stock opened at $28.12 on Friday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 22.70 and a beta of 1.21. Wageworks Inc has a fifty-two week low of $27.84 and a fifty-two week high of $63.45.

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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.

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Institutional Ownership by Quarter for Wageworks (NYSE:WAGE)

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