Wells Fargo restated their buy rating on shares of Benefitfocus (NASDAQ:BNFT) in a research report report published on Thursday, March 15th. They currently have a $30.00 price target on the software maker’s stock, down from their prior price target of $35.00. The analysts noted that the move was a valuation call.
Several other analysts also recently issued reports on BNFT. Canaccord Genuity restated a buy rating and issued a $29.00 price objective (down from $32.00) on shares of Benefitfocus in a research report on Thursday, March 15th. Jefferies Group reduced their price objective on Benefitfocus to $30.00 and set a buy rating on the stock in a research report on Thursday, March 15th. Royal Bank of Canada reduced their price objective on Benefitfocus to $24.00 and set a sector perform rating on the stock in a research report on Thursday, March 15th. Zacks Investment Research downgraded Benefitfocus from a buy rating to a hold rating in a research report on Wednesday, January 3rd. Finally, Chardan Capital reduced their price objective on Benefitfocus from $28.00 to $27.00 and set a neutral rating on the stock in a research report on Thursday, March 15th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $30.78.
BNFT opened at $24.65 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of -2.23. The firm has a market cap of $762.92, a price-to-earnings ratio of -31.20 and a beta of 0.94. Benefitfocus has a one year low of $21.75 and a one year high of $37.10.
Benefitfocus (NASDAQ:BNFT) last posted its earnings results on Wednesday, March 14th. The software maker reported ($0.06) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The firm had revenue of $66.80 million for the quarter, compared to analysts’ expectations of $66.47 million. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. equities analysts anticipate that Benefitfocus will post -1.27 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its stake in Benefitfocus by 65.1% in the third quarter. Sei Investments Co. now owns 6,025 shares of the software maker’s stock valued at $203,000 after purchasing an additional 2,375 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Benefitfocus by 22.6% in the second quarter. The Manufacturers Life Insurance Company now owns 13,092 shares of the software maker’s stock valued at $476,000 after purchasing an additional 2,410 shares during the last quarter. California State Teachers Retirement System increased its stake in Benefitfocus by 11.0% in the second quarter. California State Teachers Retirement System now owns 28,198 shares of the software maker’s stock valued at $1,025,000 after purchasing an additional 2,800 shares during the last quarter. Peregrine Capital Management LLC increased its stake in Benefitfocus by 0.6% in the fourth quarter. Peregrine Capital Management LLC now owns 644,503 shares of the software maker’s stock valued at $17,402,000 after purchasing an additional 4,033 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in Benefitfocus in the fourth quarter valued at $173,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.
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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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