Benefitfocus Inc (NASDAQ:BNFT) has earned an average rating of “Buy” from the eleven research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $36.83.
A number of equities research analysts recently weighed in on BNFT shares. BidaskClub raised Benefitfocus from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Chardan Capital raised their price objective on Benefitfocus from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, August 3rd. Zacks Investment Research raised Benefitfocus from a “sell” rating to a “hold” rating and set a $39.00 price objective on the stock in a research report on Tuesday, May 15th. Piper Jaffray Companies raised their price objective on Benefitfocus to $40.00 and gave the company an “overweight” rating in a research report on Friday, June 29th. Finally, Berenberg Bank set a $35.00 price target on Benefitfocus and gave the stock a “buy” rating in a report on Friday, May 4th.
BNFT stock traded up $0.60 during trading on Tuesday, reaching $36.75. 99,959 shares of the company traded hands, compared to its average volume of 303,191. Benefitfocus has a 12 month low of $21.75 and a 12 month high of $40.00. The company has a quick ratio of 1.09, a current ratio of 0.98 and a debt-to-equity ratio of -3.49.
Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings data on Thursday, August 2nd. The software maker reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The company had revenue of $60.60 million for the quarter, compared to the consensus estimate of $56.93 million. During the same period in the previous year, the business earned ($0.05) EPS. Benefitfocus’s revenue for the quarter was up 10.0% compared to the same quarter last year. analysts forecast that Benefitfocus will post -1.21 EPS for the current fiscal year.
In other Benefitfocus news, major shareholder Goldman Sachs Group Inc sold 2,500,000 shares of the firm’s stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $33.03, for a total value of $82,575,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 29.00% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. Swiss National Bank raised its stake in shares of Benefitfocus by 6.3% in the first quarter. Swiss National Bank now owns 27,200 shares of the software maker’s stock worth $664,000 after purchasing an additional 1,600 shares during the last quarter. Gagnon Securities LLC raised its position in Benefitfocus by 20.7% during the first quarter. Gagnon Securities LLC now owns 16,457 shares of the software maker’s stock valued at $402,000 after acquiring an additional 2,818 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Benefitfocus by 16.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 20,252 shares of the software maker’s stock valued at $680,000 after acquiring an additional 2,870 shares in the last quarter. Aperio Group LLC raised its position in Benefitfocus by 21.2% during the second quarter. Aperio Group LLC now owns 18,344 shares of the software maker’s stock valued at $616,000 after acquiring an additional 3,205 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Benefitfocus by 1.1% during the first quarter. Wells Fargo & Company MN now owns 313,355 shares of the software maker’s stock valued at $7,646,000 after acquiring an additional 3,332 shares in the last quarter. Hedge funds and other institutional investors own 88.47% of the company’s stock.
Benefitfocus Company Profile
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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