Benefitfocus Inc (BNFT) Given Average Recommendation of “Hold” by Brokerages

Shares of Benefitfocus Inc (NASDAQ:BNFT) have been given a consensus recommendation of “Hold” by the ten ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $35.00.

BNFT has been the subject of a number of recent research reports. Zacks Investment Research raised Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, January 2nd. Piper Jaffray Companies reissued a “buy” rating and issued a $34.00 target price on shares of Benefitfocus in a research note on Friday, November 3rd. Canaccord Genuity reissued a “buy” rating and issued a $34.00 target price on shares of Benefitfocus in a research note on Monday, October 30th. William Blair lowered Benefitfocus from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Finally, BidaskClub raised Benefitfocus from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 7th.

In other Benefitfocus news, CEO Shawn A. Jenkins purchased 37,000 shares of Benefitfocus stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average price of $25.27 per share, for a total transaction of $934,990.00. Following the acquisition, the chief executive officer now directly owns 2,782,683 shares in the company, valued at $70,318,399.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 40.10% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC increased its holdings in Benefitfocus by 37.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,752,918 shares of the software maker’s stock valued at $47,329,000 after purchasing an additional 473,522 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Benefitfocus by 37.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 104,121 shares of the software maker’s stock valued at $2,812,000 after purchasing an additional 28,276 shares during the period. Point72 Asset Management L.P. increased its holdings in Benefitfocus by 12.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 125,400 shares of the software maker’s stock valued at $4,220,000 after purchasing an additional 13,900 shares during the period. Royce & Associates LP increased its holdings in Benefitfocus by 100.0% during the 3rd quarter. Royce & Associates LP now owns 100,000 shares of the software maker’s stock valued at $3,365,000 after purchasing an additional 50,000 shares during the period. Finally, Discovery Group I LLC increased its holdings in Benefitfocus by 77.7% during the 3rd quarter. Discovery Group I LLC now owns 749,850 shares of the software maker’s stock valued at $25,232,000 after purchasing an additional 327,845 shares during the period. Institutional investors own 85.61% of the company’s stock.

Shares of Benefitfocus (NASDAQ BNFT) opened at $25.10 on Friday. The company has a debt-to-equity ratio of -2.39, a quick ratio of 1.08 and a current ratio of 1.08. Benefitfocus has a 52 week low of $22.30 and a 52 week high of $37.10. The stock has a market capitalization of $782.61, a PE ratio of -29.53 and a beta of 1.12.

Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.08. The firm had revenue of $62.45 million for the quarter, compared to the consensus estimate of $62.19 million. During the same period last year, the firm earned ($0.14) EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. sell-side analysts forecast that Benefitfocus will post -0.81 EPS for the current year.

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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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