Benefitfocus Inc. (BNFT) Trading Up 3.6%
Benefitfocus Inc. (NASDAQ:BNFT)’s share price was up 3.6% on Tuesday . The stock traded as high as $41.52 and last traded at $41.50, with a volume of 188,987 shares changing hands. The stock had previously closed at $40.05.
Several equities analysts recently weighed in on BNFT shares. Canaccord Genuity restated a “buy” rating and issued a $44.00 price objective on shares of Benefitfocus in a report on Thursday, May 5th. William Blair lowered shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a report on Thursday, May 5th. Zacks Investment Research lowered shares of Benefitfocus from a “buy” rating to a “hold” rating in a report on Monday, May 9th. Goldman Sachs Group Inc. started coverage on shares of Benefitfocus in a report on Monday, May 23rd. They issued a “neutral” rating and a $38.00 price objective on the stock. Finally, Royal Bank Of Canada increased their price objective on shares of Benefitfocus from $36.00 to $46.00 and gave the company a “sector perform” rating in a report on Monday, August 1st. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $48.22.
The company has a 50 day moving average price of $41.82 and a 200 day moving average price of $36.00. The company’s market cap is $1.23 billion.
Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.15. During the same period last year, the firm posted ($0.53) earnings per share. The company had revenue of $57.90 million for the quarter, compared to the consensus estimate of $56.42 million. The company’s revenue for the quarter was up 35.6% compared to the same quarter last year. Equities research analysts predict 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 that occurred on 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 sale, the insider now directly 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 available at the SEC website. Also, Director Francis J. Pelzer sold 1,530 shares of Benefitfocus stock in a transaction that occurred on Friday, June 17th. The shares were 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 in the company, valued at $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 shares of Benefitfocus Inc. (NASDAQ:BNFT) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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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