Benefitfocus (NASDAQ:BNFT) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Thursday.

Several other equities research analysts have also issued reports on BNFT. Zacks Investment Research lowered shares of Benefitfocus from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Berenberg Bank reiterated a “buy” rating and set a $36.00 target price on shares of Benefitfocus in a research report on Thursday, August 10th. Canaccord Genuity reiterated a “buy” rating and set a $34.00 target price on shares of Benefitfocus in a research report on Monday, October 30th. William Blair lowered shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a research report on Friday, November 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $34.00 target price on shares of Benefitfocus in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $35.38.

Benefitfocus (NASDAQ:BNFT) traded up $0.15 during mid-day trading on Thursday, hitting $26.90. 139,833 shares of the stock were exchanged, compared to its average volume of 128,637. The company has a debt-to-equity ratio of -2.39, a current ratio of 1.08 and a quick ratio of 1.08. Benefitfocus has a one year low of $22.30 and a one year high of $37.10.

Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $62.45 million during the quarter, compared to the consensus estimate of $62.19 million. During the same quarter last year, the business posted ($0.14) earnings per share. Benefitfocus’s revenue was up 7.6% compared to the same quarter last year. equities research analysts predict that Benefitfocus will post -0.81 EPS for the current year.

In other Benefitfocus news, CEO Shawn A. Jenkins acquired 37,000 shares of the stock in a transaction dated Monday, November 6th. The stock was purchased at an average cost of $25.27 per share, for a total transaction of $934,990.00. Following the acquisition, the chief executive officer now owns 2,782,683 shares in the company, valued at approximately $70,318,399.41. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 40.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Benefitfocus by 70.0% in the 2nd quarter. FMR LLC now owns 4,651,067 shares of the software maker’s stock worth $169,066,000 after acquiring an additional 1,914,954 shares during the last quarter. Bamco Inc. NY lifted its holdings in shares of Benefitfocus by 0.6% in the 2nd quarter. Bamco Inc. NY now owns 4,247,487 shares of the software maker’s stock worth $154,396,000 after acquiring an additional 24,954 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Benefitfocus by 11.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,238,539 shares of the software maker’s stock worth $45,021,000 after acquiring an additional 129,829 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Benefitfocus by 3.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 968,092 shares of the software maker’s stock worth $35,190,000 after acquiring an additional 28,491 shares during the last quarter. Finally, Discovery Group I LLC lifted its holdings in shares of Benefitfocus by 77.7% in the 3rd quarter. Discovery Group I LLC now owns 749,850 shares of the software maker’s stock worth $25,232,000 after acquiring an additional 327,845 shares during the last quarter. Hedge funds and other institutional investors own 85.75% of the company’s stock.

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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.

Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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