Insider Buying: Benefitfocus (BNFT) Director Buys $100,262.60 in Stock

Benefitfocus (NASDAQ:BNFT) Director A Lanham Napier acquired 3,985 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of $25.16 per share, with a total value of $100,262.60. Following the completion of the acquisition, the director now owns 25,497 shares in the company, valued at $641,504.52. The purchase was disclosed in a filing with the SEC, which is available at this link.

Shares of Benefitfocus stock opened at $27.10 on Friday. The company has a debt-to-equity ratio of -2.23, a current ratio of 0.96 and a quick ratio of 0.96. Benefitfocus has a twelve month low of $21.75 and a twelve month high of $37.10.

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Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings results on Wednesday, March 14th. The software maker reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $66.80 million for the quarter, compared to analysts’ expectations of $66.47 million. During the same period last year, the company posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. sell-side analysts expect that Benefitfocus will post -1.27 EPS for the current fiscal year.

A number of analysts have recently commented on the company. BidaskClub upgraded Benefitfocus from a “sell” rating to a “hold” rating in a report on Saturday, April 14th. Jefferies Group restated a “buy” rating and set a $31.00 price objective on shares of Benefitfocus in a report on Thursday, March 22nd. Zacks Investment Research cut shares of Benefitfocus from a “hold” rating to a “sell” rating in a research report on Tuesday, March 20th. Berenberg Bank set a $29.00 price target on shares of Benefitfocus and gave the stock a “buy” rating in a research report on Thursday, March 15th. Finally, Wells Fargo reaffirmed a “buy” rating and set a $30.00 price target (down from $35.00) on shares of Benefitfocus in a research report on Thursday, March 15th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $30.78.

A number of large investors have recently bought and sold shares of BNFT. MetLife Investment Advisors LLC purchased a new position in Benefitfocus in the 4th quarter valued at about $173,000. Aperio Group LLC purchased a new position in Benefitfocus in the 4th quarter valued at about $239,000. Deutsche Bank AG boosted its position in Benefitfocus by 81.0% in the 4th quarter. Deutsche Bank AG now owns 38,852 shares of the software maker’s stock valued at $1,048,000 after buying an additional 17,392 shares during the last quarter. Spark Investment Management LLC purchased a new position in Benefitfocus in the 4th quarter valued at about $1,116,000. Finally, Teacher Retirement System of Texas purchased a new position in Benefitfocus in the 4th quarter valued at about $1,304,000. 86.19% of the stock is owned by institutional investors.

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About Benefitfocus

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. It operates through Employer and Carrier segments. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.

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