Benefitfocus Inc. (NASDAQ:BNFT) has been given an average rating of “Buy” by the ten analysts that are covering the stock. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $48.38.
Several research analysts have recently commented on BNFT shares. Zacks Investment Research raised shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Monday, August 8th. Canaccord Genuity reaffirmed a “buy” rating and issued a $48.00 price target on shares of Benefitfocus in a report on Friday, August 5th. Jefferies Group lifted their price target on shares of Benefitfocus from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Deutsche Bank AG lifted their price target on shares of Benefitfocus from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $46.00 price target (up from $36.00) on shares of Benefitfocus in a report on Monday, August 1st.
In other Benefitfocus news, COO Raymond Alexander August sold 16,408 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $39.66, for a total transaction of $650,741.28. Following the sale, the chief operating officer now directly owns 198,102 shares in the company, valued at approximately $7,856,725.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mason R. Holland, Jr. sold 145,915 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $42.18, for a total transaction of $6,154,694.70. Following the sale, the insider now owns 22,537 shares in the company, valued at $950,610.66. The disclosure for this sale can be found here. Company insiders own 45.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC increased its stake in Benefitfocus by 17.9% in the second quarter. Lord Abbett & CO. LLC now owns 1,221,475 shares of the company’s stock worth $46,563,000 after buying an additional 185,407 shares during the period. GMT Capital Corp bought a new stake in Benefitfocus during the second quarter worth approximately $5,542,000. BlackRock Fund Advisors increased its stake in Benefitfocus by 61.2% in the second quarter. BlackRock Fund Advisors now owns 304,235 shares of the company’s stock worth $11,597,000 after buying an additional 115,486 shares during the period. JPMorgan Chase & Co. increased its stake in Benefitfocus by 14.2% in the second quarter. JPMorgan Chase & Co. now owns 804,110 shares of the company’s stock worth $30,652,000 after buying an additional 100,291 shares during the period. Finally, State Street Corp increased its stake in Benefitfocus by 49.3% in the second quarter. State Street Corp now owns 207,951 shares of the company’s stock worth $7,924,000 after buying an additional 68,679 shares during the period. Institutional investors own 78.96% of the company’s stock.
Shares of Benefitfocus (NASDAQ:BNFT) traded up 0.0294% on Thursday, reaching $41.1721. 55,395 shares of the company’s stock traded hands. The firm’s market capitalization is $1.22 billion. The company has a 50 day moving average price of $40.18 and a 200 day moving average price of $38.34. Benefitfocus has a 52 week low of $21.04 and a 52 week high of $44.98.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.15. The business earned $57.90 million during the quarter, compared to analyst estimates of $56.42 million. During the same period last year, the firm posted ($0.53) earnings per share. The company’s quarterly revenue was up 35.6% on a year-over-year basis. On average, equities research analysts predict that Benefitfocus will post ($0.95) earnings per share for the current fiscal year.
Benefitfocus, Inc (Benefitfocus) provides cloud-based benefits software solutions for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. It 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.
Receive News & Ratings for Benefitfocus Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Benefitfocus Inc. and related companies with MarketBeat.com's FREE daily email newsletter.