A number of other brokerages also recently issued reports on BNFT. BidaskClub upgraded Benefitfocus from a hold rating to a buy rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded Benefitfocus from a sell rating to a hold rating in a research note on Tuesday. Berenberg Bank set a $35.00 price objective on Benefitfocus and gave the company a buy rating in a research note on Friday, May 4th. Jefferies Group restated a buy rating and issued a $31.00 price objective on shares of Benefitfocus in a research note on Thursday, March 22nd. Finally, Canaccord Genuity reaffirmed a buy rating and set a $29.00 price target (down previously from $32.00) on shares of Benefitfocus in a research report on Thursday, March 15th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $33.56.
Benefitfocus traded down $0.25, reaching $34.85, during trading on Wednesday, MarketBeat Ratings reports. The company’s stock had a trading volume of 1,340 shares, compared to its average volume of 214,064. The company has a market capitalization of $1.08 billion, a PE ratio of -44.43 and a beta of 0.90. The company has a debt-to-equity ratio of -5.28, a current ratio of 1.09 and a quick ratio of 1.09. Benefitfocus has a 12 month low of $34.20 and a 12 month high of $35.10.
Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings data on Thursday, May 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.13. The business had revenue of $62.40 million during the quarter, compared to the consensus estimate of $58.53 million. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.36) EPS. sell-side analysts anticipate that Benefitfocus will post -1.21 earnings per share for the current year.
In other news, Director A Lanham Napier purchased 3,985 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of $25.16 per share, with a total value of $100,262.60. Following the transaction, the director now directly owns 25,497 shares of the company’s stock, valued at $641,504.52. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 29.00% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bamco Inc. NY lifted its position in shares of Benefitfocus by 0.7% during the 1st quarter. Bamco Inc. NY now owns 4,173,603 shares of the software maker’s stock valued at $101,836,000 after buying an additional 27,635 shares during the last quarter. Frontier Capital Management Co. LLC lifted its holdings in Benefitfocus by 31.8% during the 1st quarter. Frontier Capital Management Co. LLC now owns 2,310,556 shares of the software maker’s stock worth $56,378,000 after purchasing an additional 557,638 shares in the last quarter. BlackRock Inc. lifted its holdings in Benefitfocus by 7.3% during the 4th quarter. BlackRock Inc. now owns 1,106,424 shares of the software maker’s stock worth $29,874,000 after purchasing an additional 74,843 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in Benefitfocus by 83.2% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 689,102 shares of the software maker’s stock worth $18,606,000 after purchasing an additional 312,930 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its holdings in Benefitfocus by 0.6% during the 4th quarter. Peregrine Capital Management LLC now owns 644,503 shares of the software maker’s stock worth $17,402,000 after purchasing an additional 4,033 shares in the last quarter. 86.68% of the stock is currently owned by hedge funds and other institutional investors.
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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