Benefitfocus Inc. (NASDAQ:BNFT)’s share price fell 2.9% on Tuesday . The company traded as low as $37.71 and last traded at $37.78, with a volume of 182,758 shares changing hands. The stock had previously closed at $38.91.

A number of research firms have weighed in on BNFT. RBC Capital Markets reissued a “sector perform” rating and issued a $46.00 price objective (up from $36.00) on shares of Benefitfocus in a research report on Monday, August 1st. Canaccord Genuity reissued a “buy” rating and issued a $48.00 price objective on shares of Benefitfocus in a research report on Friday, August 5th. Royal Bank Of Canada upped their price objective on shares of Benefitfocus from $36.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, August 1st. Jefferies Group upped their price objective on shares of Benefitfocus from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, Deutsche Bank AG upped their price objective on shares of Benefitfocus from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $48.22.

The stock’s 50 day moving average price is $41.02 and its 200 day moving average price is $37.73. The company’s market cap is $1.12 billion.

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Benefitfocus (NASDAQ:BNFT) last released its earnings results on Wednesday, August 3rd. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.15. The company earned $57.90 million during the quarter, compared to analysts’ expectations of $56.42 million. During the same quarter in the previous year, the company earned ($0.53) EPS. The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. Equities research analysts forecast that Benefitfocus Inc. will post ($0.95) earnings per share for the current year.

In other news, insider Mason R. Holland, Jr. sold 145,915 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $42.18, for a total transaction of $6,154,694.70. Following the transaction, the insider now owns 22,537 shares in the company, valued at approximately $950,610.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 45.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Societe Generale purchased a new position in Benefitfocus during the second quarter worth about $111,000. SG Americas Securities LLC purchased a new position in Benefitfocus during the second quarter worth about $111,000. Fortaleza Asset Management Inc. purchased a new position in Benefitfocus during the second quarter worth about $122,000. BlackRock Group LTD raised its position in Benefitfocus by 55.6% in the first quarter. BlackRock Group LTD now owns 6,163 shares of the company’s stock worth $206,000 after buying an additional 2,201 shares during the last quarter. Finally, BlackRock Advisors LLC raised its position in Benefitfocus by 48.2% in the second quarter. BlackRock Advisors LLC now owns 6,233 shares of the company’s stock worth $238,000 after buying an additional 2,026 shares during the last quarter. Institutional investors and hedge funds own 78.96% of the company’s stock.

Benefitfocus Company Profile

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.

5 Day Chart for NASDAQ:BNFT

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