Chardan Capital lowered shares of Benefitfocus, Inc. (NASDAQ:BNFT) from a buy rating to a neutral rating in a report published on Friday, Marketbeat reports. Chardan Capital currently has $30.00 price objective on the software maker’s stock, down from their previous price objective of $36.00.

Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Benefitfocus from a buy rating to a hold rating in a research note on Tuesday, August 1st. Canaccord Genuity reissued a buy rating and issued a $35.00 price objective on shares of Benefitfocus in a research note on Tuesday, August 1st. Raymond James Financial, Inc. increased their price objective on shares of Benefitfocus from $38.00 to $43.00 and gave the company an outperform rating in a research note on Thursday, July 27th. BidaskClub downgraded shares of Benefitfocus from a buy rating to a hold rating in a research note on Monday, July 24th. Finally, William Blair raised shares of Benefitfocus from a market perform rating to an outperform rating in a research note on Thursday, June 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $40.00.

Shares of Benefitfocus (NASDAQ:BNFT) traded up 0.818% during mid-day trading on Friday, hitting $27.725. 90,087 shares of the company were exchanged. The company’s 50-day moving average price is $35.69 and its 200-day moving average price is $31.08. The firm’s market capitalization is $860.64 million. Benefitfocus has a 12-month low of $24.55 and a 12-month high of $44.26.

Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. The company had revenue of $63.30 million during the quarter, compared to the consensus estimate of $62.07 million. Benefitfocus’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.22) EPS. Equities research analysts predict that Benefitfocus will post ($0.31) earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Benefitfocus, Inc. (NASDAQ:BNFT) Cut to Neutral at Chardan Capital” was originally reported by Daily Political and is the property of of Daily Political. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/08/07/benefitfocus-inc-nasdaqbnft-cut-to-neutral-at-chardan-capital.html.

Several institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new position in Benefitfocus during the second quarter valued at about $1,109,000. Legal & General Group Plc increased its position in Benefitfocus by 13.2% in the second quarter. Legal & General Group Plc now owns 3,593 shares of the software maker’s stock valued at $130,000 after buying an additional 420 shares during the last quarter. Bank of New York Mellon Corp increased its position in Benefitfocus by 33.9% in the second quarter. Bank of New York Mellon Corp now owns 70,045 shares of the software maker’s stock valued at $2,546,000 after buying an additional 17,744 shares during the last quarter. Rhumbline Advisers increased its position in Benefitfocus by 21.3% in the second quarter. Rhumbline Advisers now owns 21,193 shares of the software maker’s stock valued at $770,000 after buying an additional 3,725 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Benefitfocus by 12.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,598 shares of the software maker’s stock valued at $2,494,000 after buying an additional 7,402 shares during the last quarter. 83.32% of the stock is owned by hedge funds and other institutional investors.

Benefitfocus Company Profile

Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits management platform for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company 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.

Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

Receive News & Ratings for Benefitfocus Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Benefitfocus Inc. and related companies with MarketBeat.com's FREE daily email newsletter.