Benefitfocus (NASDAQ:BNFT) Director A Lanham Napier acquired 3,985 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average price of $25.16 per share, with a total value of $100,262.60. Following the transaction, the director now owns 25,497 shares in the company, valued at approximately $641,504.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
NASDAQ BNFT opened at $27.90 on Wednesday. Benefitfocus has a 52 week low of $21.75 and a 52 week high of $37.10. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of -2.23.
Benefitfocus (NASDAQ:BNFT) last released its earnings results on Wednesday, March 14th. The software maker reported ($0.06) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The firm had revenue of $66.80 million during the quarter, compared to analyst estimates of $66.47 million. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted ($0.09) earnings per share. equities analysts anticipate that Benefitfocus will post -1.27 EPS for the current fiscal year.
BNFT has been the subject of several research analyst reports. Jefferies Group reiterated a “buy” rating and issued a $31.00 price objective on shares of Benefitfocus in a research report on Thursday, March 22nd. Canaccord Genuity reiterated a “buy” rating and issued a $29.00 price objective (down previously from $32.00) on shares of Benefitfocus in a research report on Thursday, March 15th. Chardan Capital cut their price objective on Benefitfocus from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, March 15th. ValuEngine downgraded Benefitfocus from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Finally, Zacks Investment Research upgraded Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $30.78.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC increased its stake in shares of Benefitfocus by 37.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,752,918 shares of the software maker’s stock valued at $47,329,000 after buying an additional 473,522 shares during the period. BlackRock Inc. increased its stake in shares of Benefitfocus by 7.3% in the 4th quarter. BlackRock Inc. now owns 1,106,424 shares of the software maker’s stock valued at $29,874,000 after buying an additional 74,843 shares during the period. ArrowMark Colorado Holdings LLC increased its stake in shares of Benefitfocus by 83.2% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 689,102 shares of the software maker’s stock valued at $18,606,000 after buying an additional 312,930 shares during the period. Peregrine Capital Management LLC increased its stake in shares of Benefitfocus by 0.6% in the 4th quarter. Peregrine Capital Management LLC now owns 644,503 shares of the software maker’s stock valued at $17,402,000 after buying an additional 4,033 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Benefitfocus by 30.6% in the 4th quarter. Wells Fargo & Company MN now owns 310,023 shares of the software maker’s stock valued at $8,370,000 after buying an additional 72,723 shares during the period. 86.19% of the stock is owned by institutional investors.
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Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. It operates through Employer and Carrier segments. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.
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