WageWorks – A quiet IPO success

WageWorks (WAGE) priced on May 10, 2012 at $9 which was just below the filed range of $10-12.  Since then however the shares have been under accumulation and are now changing hands at $15.

WAGE is an example of the type of solid IPO that slips between the cracks of the IPO system. The deal was brought by a decidedly second tier underwriting group (William Blair, Stifel Nicolaus, JMP and Needham) and "consumer directed benefit plans" don't have the sizzle that comes from the latest cloud . . .

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