Benefitfocus Inc (BNFT) Stake Lessened by Artisan Partners Limited Partnership
Artisan Partners Limited Partnership lowered its stake in Benefitfocus Inc (NASDAQ:BNFT) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 945,999 shares of the software maker’s stock after selling 22,093 shares during the quarter. Artisan Partners Limited Partnership owned 3.03% of Benefitfocus worth $31,833,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Benefitfocus by 10.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 75,845 shares of the software maker’s stock valued at $2,553,000 after acquiring an additional 7,247 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Benefitfocus by 10.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 77,239 shares of the software maker’s stock valued at $2,599,000 after acquiring an additional 7,194 shares in the last quarter. Sei Investments Co. increased its stake in shares of Benefitfocus by 65.1% in the 3rd quarter. Sei Investments Co. now owns 6,025 shares of the software maker’s stock valued at $203,000 after acquiring an additional 2,375 shares in the last quarter. BT Investment Management Ltd increased its stake in shares of Benefitfocus by 69.9% in the 3rd quarter. BT Investment Management Ltd now owns 40,758 shares of the software maker’s stock valued at $1,372,000 after acquiring an additional 16,774 shares in the last quarter. Finally, Baillie Gifford & Co. bought a new stake in shares of Benefitfocus in the 3rd quarter valued at $8,038,000. Institutional investors own 85.75% of the company’s stock.
Shares of Benefitfocus Inc (NASDAQ BNFT) opened at $25.15 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of -2.39. Benefitfocus Inc has a one year low of $22.30 and a one year high of $37.10.
Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.08. The business had revenue of $62.45 million for the quarter, compared to the consensus estimate of $62.19 million. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) EPS. equities analysts forecast that Benefitfocus Inc will post -0.81 earnings per share for the current fiscal year.
Several research firms have recently weighed in on BNFT. Zacks Investment Research upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, October 3rd. Berenberg Bank restated a “buy” rating and set a $36.00 price target on shares of Benefitfocus in a research note on Thursday, August 10th. Piper Jaffray Companies restated a “buy” rating and set a $34.00 price target on shares of Benefitfocus in a research note on Friday, November 3rd. William Blair lowered shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Finally, Canaccord Genuity restated a “buy” rating and set a $34.00 price target on shares of Benefitfocus in a research note on Monday, October 30th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $35.38.
In other Benefitfocus news, CEO Shawn A. Jenkins purchased 37,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was acquired at an average price of $25.27 per share, for a total transaction of $934,990.00. Following the purchase, the chief executive officer now owns 2,782,683 shares of the company’s stock, valued at approximately $70,318,399.41. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 40.10% of the company’s stock.
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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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