Benefitfocus Inc (NASDAQ:BNFT) rose 7.7% during trading on Wednesday . The stock traded as high as $20.91 and last traded at $20.78, approximately 492,977 shares were traded during trading. An increase of 81% from the average daily volume of 272,988 shares. The stock had previously closed at $19.30.
Several equities analysts have recently weighed in on BNFT shares. Wells Fargo & Co lowered their price objective on shares of Benefitfocus from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. ValuEngine raised Benefitfocus from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. BidaskClub downgraded Benefitfocus from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Zacks Investment Research lowered Benefitfocus from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Compass Point started coverage on Benefitfocus in a research report on Monday, November 4th. They issued a “buy” rating and a $37.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $39.55.
The company has a market cap of $631.88 million, a PE ratio of -14.02 and a beta of 1.30. The business’s 50 day moving average is $21.16 and its two-hundred day moving average is $23.86.
Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings results on Wednesday, November 6th. The software maker reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.49) by $0.26. The business had revenue of $71.67 million during the quarter, compared to analysts’ expectations of $70.90 million. During the same quarter in the previous year, the company posted ($0.23) EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Research analysts forecast that Benefitfocus Inc will post -1.37 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc bought a new stake in Benefitfocus in the 2nd quarter valued at $41,000. Bank of Montreal Can grew its position in shares of Benefitfocus by 153.7% during the second quarter. Bank of Montreal Can now owns 4,049 shares of the software maker’s stock valued at $109,000 after purchasing an additional 2,453 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Benefitfocus by 9.4% in the second 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 during the last quarter. SG Americas Securities LLC bought a new stake in shares of Benefitfocus in the third quarter worth about $187,000. Finally, Metropolitan Life Insurance Co NY lifted its position in shares of Benefitfocus by 12.2% in the third quarter. Metropolitan Life Insurance Co NY now owns 9,577 shares of the software maker’s stock worth $228,000 after buying an additional 1,042 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.
Benefitfocus Company Profile (NASDAQ:BNFT)
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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