Benefitfocus (NASDAQ:BNFT) has been assigned a $38.00 price target by equities research analysts at Wells Fargo in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the software maker’s stock. Wells Fargo’s price objective indicates a potential upside of 8.73% from the stock’s current price.
A number of other equities research analysts also recently weighed in on BNFT. Jefferies Group lifted their target price on Benefitfocus to $35.00 and gave the stock a “buy” rating in a report on Friday, May 4th. Zacks Investment Research raised Benefitfocus from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub raised Benefitfocus from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Chardan Capital lifted their target price on Benefitfocus from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, May 4th. Finally, Royal Bank of Canada raised Benefitfocus from a “sector perform” rating to an “outperform” rating in a report on Friday, May 4th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Benefitfocus presently has an average rating of “Buy” and a consensus target price of $33.56.
Shares of BNFT traded up $0.90 during midday trading on Wednesday, reaching $34.95. 110 shares of the stock were exchanged, compared to its average volume of 214,003. Benefitfocus has a twelve month low of $34.95 and a twelve month high of $34.95. The company has a debt-to-equity ratio of -5.28, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $1.06 billion, a P/E ratio of -44.24 and a beta of 0.90.
Benefitfocus (NASDAQ:BNFT) last posted its earnings results on Thursday, May 3rd. The software maker reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.13. The firm had revenue of $62.40 million for the quarter, compared to analyst estimates of $58.53 million. During the same period in the prior year, the business posted ($0.36) EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. equities research analysts predict that Benefitfocus will post -1.21 earnings per share for the current fiscal year.
In related news, Director A Lanham Napier purchased 3,985 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price of $25.16 per share, for a total transaction of $100,262.60. Following the completion of the transaction, the director now owns 25,497 shares of the company’s stock, valued at $641,504.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 29.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its position in shares of Benefitfocus by 30.6% in the fourth quarter. Wells Fargo & Company MN now owns 310,023 shares of the software maker’s stock worth $8,370,000 after purchasing an additional 72,723 shares during the period. Frontier Capital Management Co. LLC increased its position in shares of Benefitfocus by 37.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,752,918 shares of the software maker’s stock worth $47,329,000 after purchasing an additional 473,522 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Benefitfocus in the fourth quarter worth $1,304,000. Schwab Charles Investment Management Inc. increased its position in shares of Benefitfocus by 10.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 75,845 shares of the software maker’s stock worth $2,553,000 after purchasing an additional 7,247 shares during the period. Finally, Spark Investment Management LLC bought a new position in Benefitfocus in the fourth quarter valued at about $1,116,000. Institutional investors own 86.68% of the company’s stock.
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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