BidaskClub upgraded shares of Benefitfocus (NASDAQ:BNFT) from a buy rating to a strong-buy rating in a report issued on Wednesday.
A number of other equities research analysts also recently weighed in on BNFT. ValuEngine downgraded shares of Benefitfocus from a sell rating to a strong sell rating in a research report on Thursday, March 1st. Jefferies Financial Group dropped their price target on shares of Benefitfocus to $30.00 and set a buy rating for the company in a research report on Thursday, March 15th. Canaccord Genuity reiterated a buy rating and issued a $29.00 price target (down from $32.00) on shares of Benefitfocus in a research report on Thursday, March 15th. Chardan Capital dropped their price target on shares of Benefitfocus from $28.00 to $27.00 and set a neutral rating for the company in a research report on Thursday, March 15th. Finally, Royal Bank of Canada dropped their price target on shares of Benefitfocus to $24.00 and set a sector perform rating for the company in a research report on Thursday, March 15th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Benefitfocus currently has a consensus rating of Buy and a consensus price target of $34.56.
Benefitfocus opened at $34.50 on Wednesday, according to MarketBeat.com. 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 1-year low of $21.75 and a 1-year high of $36.95.
Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings results on Thursday, May 3rd. The software maker reported ($0.26) earnings per share 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 analyst estimates of $58.53 million. During the same quarter in the previous year, the firm posted ($0.36) earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. sell-side analysts anticipate that Benefitfocus will post -1.2 EPS for the current year.
In other Benefitfocus news, major shareholder Goldman Sachs Group Inc sold 2,500,000 shares of the business’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $33.03, for a total transaction of $82,575,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 29.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bamco Inc. NY raised its position in Benefitfocus by 0.7% during the first quarter. Bamco Inc. NY now owns 4,173,603 shares of the software maker’s stock valued at $101,836,000 after purchasing an additional 27,635 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Benefitfocus by 31.8% during the first quarter. Frontier Capital Management Co. LLC now owns 2,310,556 shares of the software maker’s stock worth $56,378,000 after buying an additional 557,638 shares during the last quarter. BlackRock Inc. grew its stake in shares of Benefitfocus by 7.3% during the fourth quarter. BlackRock Inc. now owns 1,106,424 shares of the software maker’s stock worth $29,874,000 after buying an additional 74,843 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in shares of Benefitfocus by 83.2% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 689,102 shares of the software maker’s stock worth $18,606,000 after buying an additional 312,930 shares during the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of Benefitfocus by 39.0% during the first quarter. Baillie Gifford & Co. now owns 369,704 shares of the software maker’s stock worth $9,021,000 after buying an additional 103,774 shares during the last quarter. Institutional investors and hedge funds own 87.48% 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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