Benefitfocus Inc. (BNFT) Stock Price Up 4.7%
Benefitfocus Inc. (NASDAQ:BNFT)’s share price rose 4.7% during mid-day trading on Thursday . The stock traded as high as $38.65 and last traded at $38.65, with a volume of 67,270 shares trading hands. The stock had previously closed at $36.90.
BNFT has been the subject of several analyst reports. Zacks Investment Research cut shares of Benefitfocus from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. Royal Bank Of Canada reduced their price objective on shares of Benefitfocus from $36.00 to $34.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 9th. Goldman Sachs Group Inc. assumed coverage on shares of Benefitfocus in a research report on Monday, May 23rd. They set a “neutral” rating and a $38.00 price objective for the company. William Blair cut shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 5th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Benefitfocus in a research report on Saturday, March 12th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $43.38.
The firm’s market capitalization is $1.14 billion. The stock has a 50 day moving average price of $37.64 and a 200-day moving average price of $33.56.
Benefitfocus (NASDAQ:BNFT) last announced its earnings results on Wednesday, May 4th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.11. The business had revenue of $54.79 million for the quarter, compared to analysts’ expectations of $54.40 million. The business’s revenue was up 28.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.48) earnings per share. On average, equities research analysts forecast that Benefitfocus Inc. will post ($1.06) EPS for the current fiscal year.
In other news, Director Stephen M. Swad acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were purchased at an average cost of $32.90 per share, for a total transaction of $65,800.00. Following the transaction, the director now directly owns 25,063 shares in the company, valued at approximately $824,572.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas Dennerline sold 3,200 shares of Benefitfocus stock in a transaction on Friday, May 6th. The shares were sold at an average price of $31.85, for a total transaction of $101,920.00. Following the completion of the transaction, the director now owns 13,819 shares in the company, valued at $440,135.15. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of BNFT. Wells Fargo & Company MN raised its position in Benefitfocus by 4.5% in the fourth quarter. Wells Fargo & Company MN now owns 460,617 shares of the company’s stock worth $16,762,000 after buying an additional 19,627 shares during the period. OppenheimerFunds Inc. raised its position in Benefitfocus by 13.2% in the fourth quarter. OppenheimerFunds Inc. now owns 471,237 shares of the company’s stock worth $17,148,000 after buying an additional 55,077 shares during the period. Teacher Retirement System of Texas raised its position in Benefitfocus by 1,866.6% in the fourth quarter. Teacher Retirement System of Texas now owns 38,152 shares of the company’s stock worth $1,388,000 after buying an additional 36,212 shares during the period. New York State Common Retirement Fund raised its position in Benefitfocus by 37.1% in the fourth quarter. New York State Common Retirement Fund now owns 153,178 shares of the company’s stock worth $5,574,000 after buying an additional 41,452 shares during the period. Finally, Nationwide Fund Advisors raised its position in Benefitfocus by 22.1% in the fourth quarter. Nationwide Fund Advisors now owns 41,748 shares of the company’s stock worth $1,519,000 after buying an additional 7,546 shares during the period.
Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits software solutions for consumers, employers, insurance carriers and brokers. The Benefitfocus platform provides solutions that enable the Company’s employer and insurance carrier customers to shop, enroll, manage and exchange benefits information.