Point72 Asset Management L.P. boosted its holdings in Benefitfocus Inc (NASDAQ:BNFT) by 12.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,400 shares of the software maker’s stock after acquiring an additional 13,900 shares during the quarter. Point72 Asset Management L.P. owned 0.40% of Benefitfocus worth $4,220,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its stake 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 acquiring an additional 1,914,954 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Benefitfocus by 0.6% in the second quarter. Bamco Inc. NY now owns 4,247,487 shares of the software maker’s stock worth $154,396,000 after buying an additional 24,954 shares during the period. Vanguard Group Inc. boosted its position in shares of Benefitfocus by 11.7% in the second 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. Artisan Partners Limited Partnership boosted its position in shares of Benefitfocus by 3.0% in the second quarter. Artisan Partners Limited Partnership now owns 968,092 shares of the software maker’s stock worth $35,190,000 after buying an additional 28,491 shares during the period. Finally, Discovery Group I LLC boosted its position in shares of Benefitfocus by 77.7% in the third quarter. Discovery Group I LLC now owns 749,850 shares of the software maker’s stock worth $25,232,000 after buying an additional 327,845 shares during the period. Hedge funds and other institutional investors own 85.61% of the company’s stock.
Shares of Benefitfocus Inc (NASDAQ BNFT) traded up $0.45 on Thursday, hitting $25.95. The stock had a trading volume of 165,517 shares, compared to its average volume of 184,540. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of -2.39. Benefitfocus Inc has a fifty-two week low of $22.30 and a fifty-two week high of $37.10. The firm has a market cap of $810.67, a P/E ratio of -30.53 and a beta of 1.12.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.06) earnings per share for the quarter, topping the 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 quarter last year, the firm earned ($0.14) EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. sell-side analysts anticipate that Benefitfocus Inc will post -0.81 EPS for the current fiscal year.
In other Benefitfocus news, CEO Shawn A. Jenkins bought 37,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was bought at an average price of $25.27 per share, for a total transaction of $934,990.00. Following the transaction, the chief executive officer now owns 2,782,683 shares of the company’s stock, valued at approximately $70,318,399.41. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 40.10% of the company’s stock.
A number of research firms recently issued reports on BNFT. Zacks Investment Research raised Benefitfocus from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, October 3rd. Piper Jaffray Companies restated a “buy” rating and set a $34.00 target price on shares of Benefitfocus in a report on Friday, November 3rd. William Blair lowered Benefitfocus from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $34.00 price objective on shares of Benefitfocus in a research note on Monday, October 30th. Finally, BidaskClub upgraded Benefitfocus from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Benefitfocus has a consensus rating of “Hold” and a consensus price target of $34.38.
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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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