Jefferies Group reiterated their buy rating on shares of Benefitfocus (NASDAQ:BNFT) in a research report released on Thursday morning. They currently have a $31.00 target price on the software maker’s stock.
Other analysts also recently issued research reports about the company. Chardan Capital lowered their price objective on Benefitfocus from $28.00 to $27.00 and set a neutral rating for the company in a research report on Thursday, March 15th. Canaccord Genuity reiterated a buy rating and issued a $29.00 price objective (down previously from $32.00) on shares of Benefitfocus in a research report on Thursday, March 15th. Berenberg Bank set a $29.00 price objective on Benefitfocus and gave the company a buy rating in a research report on Thursday, March 15th. Zacks Investment Research upgraded Benefitfocus from a hold rating to a buy rating and set a $30.00 target price for the company in a report on Tuesday, January 2nd. Finally, BidaskClub downgraded Benefitfocus from a sell rating to a strong sell rating in a report on Thursday, January 18th. 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 company. Benefitfocus currently has an average rating of Hold and an average price target of $30.78.
Shares of Benefitfocus stock opened at $26.30 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of -2.23. Benefitfocus has a 12-month low of $21.75 and a 12-month high of $37.10.
Several institutional investors have recently made changes to their positions in the stock. Sei Investments Co. raised its holdings in shares of Benefitfocus by 65.1% during the third 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. The Manufacturers Life Insurance Company raised its holdings in shares of Benefitfocus by 22.6% during the second quarter. The Manufacturers Life Insurance Company now owns 13,092 shares of the software maker’s stock valued at $476,000 after acquiring an additional 2,410 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Benefitfocus by 11.0% during the second quarter. California State Teachers Retirement System now owns 28,198 shares of the software maker’s stock valued at $1,025,000 after acquiring an additional 2,800 shares in the last quarter. Peregrine Capital Management LLC raised its holdings in shares of 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. Finally, MetLife Investment Advisors LLC bought a new position in shares of Benefitfocus during the fourth quarter valued at approximately $173,000. Institutional investors own 86.36% of the company’s stock.
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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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