Benefitfocus Inc. (NASDAQ:BNFT) shares were down 2.7% during trading on Friday . The company traded as low as $39.58 and last traded at $39.84, with a volume of 138,446 shares trading hands. The stock had previously closed at $40.96.

A number of research analysts have recently commented on BNFT shares. Canaccord Genuity reaffirmed a “buy” rating and set a $44.00 price objective on shares of Benefitfocus in a research report on Thursday, May 5th. Jefferies Group increased their price target on shares of Benefitfocus from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Deutsche Bank AG increased their price target on shares of Benefitfocus from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research raised shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Monday, August 8th. Finally, William Blair lowered shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 5th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $48.22.

The stock’s market capitalization is $1.18 billion. The firm has a 50 day moving average of $41.76 and a 200-day moving average of $35.72.

Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.15. The firm earned $57.90 million during the quarter, compared to the consensus estimate of $56.42 million. The business’s revenue was up 35.6% on a year-over-year basis. During the same period last year, the business earned ($0.53) EPS. On average, equities research analysts forecast that Benefitfocus Inc. will post ($0.95) EPS for the current year.

In related news, insider Mason R. Holland, Jr. sold 145,915 shares of Benefitfocus stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $42.18, for a total transaction of $6,154,694.70. Following the completion of the sale, the insider now owns 22,537 shares of the company’s stock, valued at approximately $950,610.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francis J. Pelzer sold 1,530 shares of Benefitfocus stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $39.54, for a total transaction of $60,496.20. Following the sale, the director now directly owns 15,636 shares of the company’s stock, valued at approximately $618,247.44. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Benefitfocus stock. Wells Fargo & Company MN increased its stake in Benefitfocus Inc. (NASDAQ:BNFT) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 460,617 shares of the company’s stock after buying an additional 19,627 shares during the period. Wells Fargo & Company MN owned about 1.58% of Benefitfocus worth $16,762,000 as of its most recent filing with the SEC.

Benefitfocus, Inc (Benefitfocus) provides cloud-based benefits software solutions for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. It operates through two business segments: Employer, which derives its revenue from customers that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk.

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