Oak Ridge Investments LLC decreased its holdings in shares of Benefitfocus, Inc. (NASDAQ:BNFT) by 37.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,805 shares of the software maker’s stock after selling 130,000 shares during the quarter. Oak Ridge Investments LLC owned about 0.69% of Benefitfocus worth $7,295,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of BNFT. FMR LLC grew its position in shares of Benefitfocus by 70.0% during the 2nd quarter. FMR LLC now owns 4,651,067 shares of the software maker’s stock worth $169,066,000 after buying an additional 1,914,954 shares during the period. Baillie Gifford & Co. acquired a new stake in shares of Benefitfocus during the 3rd quarter worth approximately $8,038,000. Renaissance Technologies LLC acquired a new stake in shares of Benefitfocus during the 1st quarter worth approximately $4,995,000. Vanguard Group Inc. grew its position in shares of Benefitfocus by 11.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,238,539 shares of the software maker’s stock worth $45,021,000 after buying an additional 129,829 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Benefitfocus by 52.1% during the second quarter. Wells Fargo & Company MN now owns 346,253 shares of the software maker’s stock valued at $12,586,000 after purchasing an additional 118,664 shares during the period. Institutional investors own 83.54% of the company’s stock.
Shares of Benefitfocus, Inc. (NASDAQ:BNFT) traded up $0.60 on Friday, reaching $25.75. 121,200 shares of the company’s stock were exchanged, compared to its average volume of 207,022. The company has a debt-to-equity ratio of -2.39, a quick ratio of 1.08 and a current ratio of 1.08. Benefitfocus, Inc. has a 1 year low of $22.30 and a 1 year high of $37.10.
Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.08. The company had revenue of $62.45 million during the quarter, compared to the consensus estimate of $62.19 million. During the same period in the previous year, the firm posted ($0.14) EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. analysts anticipate that Benefitfocus, Inc. will post -0.81 earnings per share for the current year.
In related news, CEO Shawn A. Jenkins purchased 37,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $25.27 per share, with a total value of $934,990.00. Following the completion of the purchase, the chief executive officer now owns 2,782,683 shares in the company, valued at approximately $70,318,399.41. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 40.10% of the company’s stock.
A number of research analysts recently issued reports on BNFT shares. Canaccord Genuity restated a “buy” rating and set a $35.00 price objective on shares of Benefitfocus in a report on Tuesday, August 1st. Zacks Investment Research cut shares of Benefitfocus from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. William Blair cut shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a report on Friday, November 3rd. Berenberg Bank restated a “buy” rating and set a $36.00 price objective on shares of Benefitfocus in a report on Thursday, August 10th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $34.00 price objective on shares of Benefitfocus in a report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Benefitfocus presently has an average rating of “Buy” and a consensus price target of $35.38.
Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits management platform for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company operates through two business segments: Employer, which derives its revenue from customers that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk.
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