Rhumbline Advisers cut its holdings in Benefitfocus (NASDAQ:BNFT) by 33.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,794 shares of the software maker’s stock after selling 7,439 shares during the period. Rhumbline Advisers’ holdings in Benefitfocus were worth $399,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Frontier Capital Management Co. LLC raised its position in Benefitfocus by 37.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,752,918 shares of the software maker’s stock worth $47,329,000 after acquiring an additional 473,522 shares during the period. Teacher Retirement System of Texas bought a new position in Benefitfocus in the fourth quarter worth approximately $1,304,000. Schwab Charles Investment Management Inc. raised its position in Benefitfocus by 10.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 75,845 shares of the software maker’s stock worth $2,553,000 after acquiring an additional 7,247 shares during the period. Wells Fargo & Company MN raised its position in Benefitfocus by 30.6% in the fourth quarter. Wells Fargo & Company MN now owns 310,023 shares of the software maker’s stock worth $8,370,000 after acquiring an additional 72,723 shares during the period. Finally, Royce & Associates LP raised its position in Benefitfocus by 100.0% in the third quarter. Royce & Associates LP now owns 100,000 shares of the software maker’s stock worth $3,365,000 after acquiring an additional 50,000 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.
Shares of NASDAQ BNFT opened at $24.65 on Friday. 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 1 year low of $21.75 and a 1 year high of $37.10.
Several research firms have weighed in on BNFT. Chardan Capital decreased their price target on shares of Benefitfocus from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, March 15th. Jefferies Group reiterated a “buy” rating and issued a $31.00 price target on shares of Benefitfocus in a research report on Thursday, March 22nd. Zacks Investment Research upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, January 2nd. Canaccord Genuity reiterated a “buy” rating and issued a $29.00 price target (down from $32.00) on shares of Benefitfocus in a research report on Thursday, March 15th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $30.78.
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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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