Benefitfocus Inc. (BNFT) Shares Down 2%
Shares of Benefitfocus Inc. (NASDAQ:BNFT) were down 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 analysts have recently issued reports on BNFT shares. Zacks Investment Research upgraded Benefitfocus from a “sell” rating to a “hold” rating in a research report on Monday, June 13th. Goldman Sachs Group Inc. started coverage on Benefitfocus in a research report on Monday, May 23rd. They issued a “neutral” rating and a $38.00 price objective on the stock. Jefferies Group upped their price objective on Benefitfocus from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 12th. William Blair downgraded Benefitfocus from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 5th. Finally, Canaccord Genuity restated a “buy” rating and issued a $44.00 price objective on shares of Benefitfocus in a research report on Thursday, May 5th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $48.22.
The firm’s market cap is $1.21 billion. The firm has a 50-day moving average of $42.14 and a 200-day moving average of $36.21.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data 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 firm had revenue of $57.90 million for the quarter, compared to analyst estimates of $56.42 million. During the same period in the prior year, the company posted ($0.53) EPS. The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. Analysts predict that Benefitfocus Inc. will post ($0.95) EPS for the current fiscal year.
In other Benefitfocus news, insider Mason R. Holland, Jr. sold 145,915 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $42.18, for a total transaction of $6,154,694.70. Following the transaction, the insider now owns 22,537 shares of the company’s stock, valued at approximately $950,610.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Francis J. Pelzer sold 1,530 shares of the company’s stock in a transaction on Friday, June 17th. The stock was sold at an average price of $39.54, for a total value of $60,496.20. Following the transaction, the director now directly owns 15,636 shares in the company, valued at approximately $618,247.44. 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 shares of Benefitfocus Inc. (NASDAQ:BNFT) during the fourth quarter, according to its most recent filing 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 approximately 0.10% of Benefitfocus 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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