Zacks Investment Research upgraded shares of Benefitfocus (NASDAQ:BNFT) from a sell rating to a hold rating in a research report sent to investors on Tuesday. The brokerage currently has $39.00 target price on the software maker’s stock.
According to Zacks, “Benefitfocus, Inc. offers cloud-based software solutions to consumers, employers, insurance carriers and brokers. The Company’s platform of products and services enable customers to efficiently shop, enroll, manage and exchange benefits information. Benefitfocus, Inc. is based in Charleston, South Carolina. “
Several other equities research analysts have also commented on BNFT. Jefferies Group upped their price target on shares of Benefitfocus to $35.00 and gave the company a buy rating in a report on Friday, May 4th. BidaskClub raised shares of Benefitfocus from a hold rating to a buy rating in a report on Wednesday, May 2nd. Chardan Capital upped their price target on shares of Benefitfocus from $27.00 to $34.00 and gave the company a neutral rating in a report on Friday, May 4th. ValuEngine raised shares of Benefitfocus from a sell rating to a hold rating in a report on Friday, May 4th. Finally, Berenberg Bank set a $29.00 price target on shares of Benefitfocus and gave the company a buy rating in a report on Thursday, March 15th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $34.56.
NASDAQ:BNFT opened at $34.80 on Tuesday. Benefitfocus has a one year low of $34.20 and a one year high of $35.10. The company has a debt-to-equity ratio of -5.28, a quick ratio of 1.09 and a current ratio of 1.09.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings results on Thursday, May 3rd. The software maker reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.13. The business had revenue of $62.40 million during the quarter, compared to analysts’ expectations of $58.53 million. During the same period in the previous year, the company posted ($0.36) earnings per share. Benefitfocus’s revenue for the quarter was up 8.3% compared to the same quarter last year. equities research analysts anticipate that Benefitfocus will post -1.21 earnings per share for the current fiscal year.
In other news, Director A Lanham Napier bought 3,985 shares of the stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of $25.16 per share, with a total value of $100,262.60. Following the purchase, the director now directly owns 25,497 shares in the company, valued at approximately $641,504.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 29.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Bamco Inc. NY boosted its stake in shares of Benefitfocus by 0.7% during the 1st quarter. Bamco Inc. NY now owns 4,173,603 shares of the software maker’s stock worth $101,836,000 after acquiring an additional 27,635 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Benefitfocus by 31.8% in the 1st quarter. Frontier Capital Management Co. LLC now owns 2,310,556 shares of the software maker’s stock valued at $56,378,000 after buying an additional 557,638 shares in the last quarter. BlackRock Inc. lifted its stake in Benefitfocus by 7.3% in the 4th quarter. BlackRock Inc. now owns 1,106,424 shares of the software maker’s stock valued at $29,874,000 after buying an additional 74,843 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Benefitfocus by 83.2% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 689,102 shares of the software maker’s stock valued at $18,606,000 after buying an additional 312,930 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its stake in Benefitfocus by 0.6% in the 4th quarter. Peregrine Capital Management LLC now owns 644,503 shares of the software maker’s stock valued at $17,402,000 after buying an additional 4,033 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.
Benefitfocus Company Profile
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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