Benefitfocus (NASDAQ:BNFT) shares fell 6.4% on Tuesday . The company traded as low as $32.90 and last traded at $33.00. 1,706,679 shares traded hands during trading, an increase of 641% from the average session volume of 230,309 shares. The stock had previously closed at $35.25.
BNFT has been the topic of several recent research reports. Wells Fargo set a $38.00 price target on shares of Benefitfocus and gave the stock a “buy” rating in a research report on Wednesday, May 16th. Zacks Investment Research upgraded shares of Benefitfocus from a “sell” rating to a “hold” rating and set a $39.00 price target on the stock in a research report on Tuesday, May 15th. ValuEngine upgraded shares of Benefitfocus from a “sell” rating to a “hold” rating in a research report on Friday, May 4th. Berenberg Bank set a $35.00 price target on shares of Benefitfocus and gave the stock a “buy” rating in a research report on Friday, May 4th. Finally, Chardan Capital increased their price target on shares of Benefitfocus from $27.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, May 4th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $34.56.
The stock has a market cap of $1.15 billion, a P/E ratio of -41.77 and a beta of 0.90. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of -5.28.
Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings data on Thursday, May 3rd. The software maker reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.13. The firm had revenue of $62.40 million for the quarter, compared to the consensus estimate of $58.53 million. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.36) earnings per share. equities analysts forecast that Benefitfocus will post -1.21 EPS for the current year.
In other news, Director A Lanham Napier acquired 3,985 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average cost of $25.16 per share, for a total transaction of $100,262.60. Following the transaction, the director now directly owns 25,497 shares of the company’s stock, valued at $641,504.52. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 29.00% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in BNFT. Schwab Charles Investment Management Inc. raised its position in shares of Benefitfocus by 37.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 104,121 shares of the software maker’s stock valued at $2,812,000 after purchasing an additional 28,276 shares during the period. Peregrine Capital Management LLC grew its stake in Benefitfocus by 0.6% during the fourth quarter. Peregrine Capital Management LLC now owns 644,503 shares of the software maker’s stock valued at $17,402,000 after acquiring an additional 4,033 shares in the last quarter. Aperio Group LLC purchased a new position in Benefitfocus during the fourth quarter valued at $239,000. Teacher Retirement System of Texas purchased a new position in Benefitfocus during the fourth quarter valued at $1,304,000. Finally, Wells Fargo & Company MN grew its stake in Benefitfocus by 30.6% during the fourth quarter. Wells Fargo & Company MN now owns 310,023 shares of the software maker’s stock valued at $8,370,000 after acquiring an additional 72,723 shares in the last quarter. Hedge funds and other institutional investors own 87.39% of the company’s stock.
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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