Shares of Benefitfocus Inc (NASDAQ:BNFT) have earned a consensus recommendation of “Buy” from the nine brokerages that are covering the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $38.75.

A number of research analysts have recently weighed in on BNFT shares. Canaccord Genuity reaffirmed a “buy” rating and set a $35.00 price objective on shares of Benefitfocus in a research report on Wednesday, February 22nd. Berenberg Bank started coverage on Benefitfocus in a research report on Tuesday, February 7th. They set a “buy” rating and a $36.00 price objective on the stock. Jefferies Group LLC lowered their price objective on Benefitfocus from $41.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, February 24th. Chardan Capital lifted their price objective on Benefitfocus from $31.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Finally, Zacks Investment Research raised Benefitfocus from a “sell” rating to a “hold” rating in a research report on Wednesday, March 1st.

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Benefitfocus (NASDAQ:BNFT) traded up 0.081% during midday trading on Friday, reaching $30.925. 34,210 shares of the company’s stock traded hands. The stock’s market cap is $959.97 million. Benefitfocus has a one year low of $24.55 and a one year high of $44.98. The stock’s 50 day moving average price is $28.59 and its 200-day moving average price is $28.95.

Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Thursday, April 27th. The software maker reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.02. The company had revenue of $64.10 million for the quarter, compared to analysts’ expectations of $62.94 million. During the same period in the previous year, the firm earned ($0.29) earnings per share. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts predict that Benefitfocus will post ($0.32) earnings per share for the current year.

In related news, insider James P. Restivo sold 2,193 shares of Benefitfocus stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $27.28, for a total transaction of $59,825.04. Following the sale, the insider now owns 51,401 shares of the company’s stock, valued at approximately $1,402,219.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 45.20% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Benefitfocus by 423.9% in the fourth quarter. FMR LLC now owns 2,478,546 shares of the software maker’s stock valued at $73,613,000 after buying an additional 2,005,415 shares during the period. Frontier Capital Management Co. LLC increased its stake in shares of Benefitfocus by 141.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,438,466 shares of the software maker’s stock valued at $42,722,000 after buying an additional 841,953 shares during the period. Peregrine Capital Management LLC acquired a new stake in shares of Benefitfocus during the third quarter valued at about $21,066,000. Discovery Group I LLC acquired a new stake in shares of Benefitfocus during the fourth quarter valued at about $6,105,000. Finally, Capital Impact Advisors LLC acquired a new stake in shares of Benefitfocus during the first quarter valued at about $1,673,000. 80.97% of the stock is currently owned by institutional investors.

About Benefitfocus

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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