Stifel analyst David Grossman noted that a competing research firm speculated in a note to clients this morning that WageWorks' lack of a 10-K filing or Q4 report as of yet may relate to the company's calculation of organic growth given there was correspondence between the company and the SEC about this issue previously. Grossman has "no idea whether this is, in fact, the issue, or whether it is an accounting issue at all" that is causing a delay, which could be a function of multiple factors. He adds that he has previously "written extensively" about the deceleration of the company's organic growth rate, which he believes going forward is high single digit. Grossman has a Buy rating on WageWorks shares, which are down 13% in late morning trading.