Benefitfocus Inc (NASDAQ:BNFT) has earned a consensus rating of “Hold” from the thirteen analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $42.30.
Several equities research analysts have recently weighed in on the company. Raymond James set a $30.00 price target on Benefitfocus and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Wells Fargo & Co reiterated a “buy” rating on shares of Benefitfocus in a report on Wednesday, August 7th. BidaskClub downgraded Benefitfocus from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Chardan Capital reiterated a “hold” rating and issued a $27.00 price target on shares of Benefitfocus in a report on Thursday, August 22nd. Finally, Zacks Investment Research upgraded Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Thursday, July 25th.
Benefitfocus stock traded down $0.87 during midday trading on Wednesday, reaching $24.60. 327,444 shares of the stock traded hands, compared to its average volume of 494,037. The stock’s fifty day moving average is $25.83 and its 200-day moving average is $32.62. Benefitfocus has a 12 month low of $22.82 and a 12 month high of $60.66. The stock has a market cap of $857.97 million, a P/E ratio of -16.51 and a beta of 1.35.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Tuesday, August 6th. The software maker reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.22. The company had revenue of $68.60 million during the quarter, compared to the consensus estimate of $67.51 million. Benefitfocus’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.24) earnings per share. As a group, research analysts predict that Benefitfocus will post -1.44 EPS for the current fiscal year.
In other Benefitfocus news, CFO Lou Anne Gilmore sold 1,019 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $26.89, for a total transaction of $27,400.91. Following the sale, the chief financial officer now owns 34,133 shares of the company’s stock, valued at approximately $917,836.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Benefitfocus by 9.4% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,650 shares of the software maker’s stock worth $126,000 after purchasing an additional 400 shares in the last quarter. Gagnon Securities LLC boosted its position in shares of Benefitfocus by 1.9% in the 2nd quarter. Gagnon Securities LLC now owns 25,181 shares of the software maker’s stock worth $684,000 after purchasing an additional 480 shares in the last quarter. Swiss National Bank boosted its position in shares of Benefitfocus by 1.3% in the 2nd quarter. Swiss National Bank now owns 47,700 shares of the software maker’s stock worth $1,295,000 after purchasing an additional 600 shares in the last quarter. First Mercantile Trust Co. boosted its position in shares of Benefitfocus by 6.1% in the 2nd quarter. First Mercantile Trust Co. now owns 11,707 shares of the software maker’s stock worth $318,000 after purchasing an additional 668 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its position in shares of Benefitfocus by 9.9% in the 2nd quarter. Raymond James Trust N.A. now owns 13,279 shares of the software maker’s stock worth $361,000 after purchasing an additional 1,200 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.
Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, suppliers, and brokers in the United States. The company operates through Employer and Carrier segments. Its products for insurance carriers include BenefitsPlace, a transaction-oriented, marketplace solution; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution that bridges the integration gap between carrier and employer systems; eSales for carriers and brokers tools to organize and manage accounts, track leads, generate quotes, and create proposals for various products; and Core & Advanced Analytics, a data analytics solution.
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