Benefitfocus Inc. (NASDAQ:BNFT) fell 2% during mid-day trading on Friday . The stock traded as low as $40.70 and last traded at $40.86, with a volume of 82,208 shares changing hands. The stock had previously closed at $41.71.

Several brokerages have recently issued reports on BNFT. Canaccord Genuity reiterated a “buy” rating and set a $44.00 price target on shares of Benefitfocus in a report on Thursday, May 5th. Royal Bank Of Canada lifted their price target on Benefitfocus from $36.00 to $46.00 and gave the company a “sector perform” rating in a report on Monday, August 1st. Jefferies Group lifted their price target on Benefitfocus from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 12th. William Blair lowered Benefitfocus from an “outperform” rating to a “market perform” rating in a report on Thursday, May 5th. Finally, Zacks Investment Research upgraded Benefitfocus from a “sell” rating to a “hold” rating in a report on Monday, June 13th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $48.22.

The firm’s market capitalization is $1.21 billion. The company has a 50-day moving average price of $42.08 and a 200 day moving average price of $36.08.

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, topping the consensus estimate of ($0.37) by $0.15. The business earned $57.90 million during the quarter, compared to the consensus estimate of $56.42 million. During the same quarter last year, the company earned ($0.53) earnings per share. The firm’s revenue was up 35.6% compared to the same quarter last year. Equities research analysts anticipate that Benefitfocus Inc. will post ($0.95) EPS for the current year.

In related news, Director Francis J. Pelzer sold 1,530 shares of the 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 completion of the transaction, the director now directly owns 15,636 shares in the company, valued at $618,247.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mason R. Holland, Jr. sold 145,915 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $42.18, for a total value of $6,154,694.70. Following the transaction, the insider now owns 22,537 shares of the company’s stock, valued at $950,610.66. The disclosure for this sale can be found here.

A hedge fund recently bought a new stake in Benefitfocus stock. Dimensional Fund Advisors LP acquired a new position in Benefitfocus Inc. (NASDAQ:BNFT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,269 shares of the company’s stock, valued at approximately $1,065,000. Dimensional Fund Advisors LP owned about 0.10% of Benefitfocus at the end of the most recent quarter.

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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