GSA Capital Partners LLP Takes Position in Benefitfocus, Inc. (BNFT)
GSA Capital Partners LLP acquired a new stake in Benefitfocus, Inc. (NASDAQ:BNFT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,915 shares of the software maker’s stock, valued at approximately $251,000.
Other institutional investors have also made changes to their positions in the company. Marshall Wace North America L.P. purchased a new stake in shares of Benefitfocus in the 2nd quarter worth $1,109,000. Wells Fargo & Company MN lifted its holdings in shares of Benefitfocus by 52.1% in the 2nd quarter. Wells Fargo & Company MN now owns 346,253 shares of the software maker’s stock worth $12,586,000 after buying an additional 118,664 shares during the period. Oak Ridge Investments LLC lifted its holdings in shares of Benefitfocus by 199.2% in the 2nd quarter. Oak Ridge Investments LLC now owns 346,805 shares of the software maker’s stock worth $12,606,000 after buying an additional 230,892 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Benefitfocus in the 2nd quarter worth $2,477,000. Finally, Credit Suisse AG lifted its holdings in shares of Benefitfocus by 4,598.7% in the 1st quarter. Credit Suisse AG now owns 623,144 shares of the software maker’s stock worth $17,416,000 after buying an additional 609,882 shares during the period. 84.63% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on BNFT shares. Zacks Investment Research cut Benefitfocus from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Canaccord Genuity reiterated a “buy” rating and issued a $35.00 target price on shares of Benefitfocus in a report on Tuesday, August 1st. BidaskClub cut Benefitfocus from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Chardan Capital cut Benefitfocus from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $30.00 in a report on Friday, August 4th. Finally, Raymond James Financial, Inc. upped their target price on Benefitfocus from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Benefitfocus currently has a consensus rating of “Buy” and a consensus target price of $39.78.
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Shares of Benefitfocus, Inc. (NASDAQ BNFT) opened at 30.00 on Friday. Benefitfocus, Inc. has a 52 week low of $24.55 and a 52 week high of $38.30. The company’s 50 day moving average price is $31.38 and its 200-day moving average price is $32.00. The stock’s market capitalization is $935.37 million.
Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.09. The firm had revenue of $63.30 million during the quarter, compared to analyst estimates of $62.07 million. During the same period in the previous year, the firm posted ($0.22) earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts predict that Benefitfocus, Inc. will post ($0.30) EPS for the current year.
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.
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