Geode Capital Management LLC raised its position in Benefitfocus, Inc. (NASDAQ:BNFT) by 11.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,929 shares of the software maker’s stock after buying an additional 12,501 shares during the period. Geode Capital Management LLC owned about 0.39% of Benefitfocus worth $3,407,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its position in shares of Benefitfocus by 1.9% in the fourth quarter. State Street Corp now owns 217,686 shares of the software maker’s stock worth $6,466,000 after buying an additional 4,162 shares during the period. Teachers Advisors LLC raised its position in shares of Benefitfocus by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 21,537 shares of the software maker’s stock worth $640,000 after buying an additional 1,087 shares during the period. Macquarie Group Ltd. raised its position in shares of Benefitfocus by 21.0% in the fourth quarter. Macquarie Group Ltd. now owns 56,923 shares of the software maker’s stock worth $1,691,000 after buying an additional 9,879 shares during the period. First Mercantile Trust Co. raised its position in shares of Benefitfocus by 544.0% in the first quarter. First Mercantile Trust Co. now owns 4,476 shares of the software maker’s stock worth $125,000 after buying an additional 3,781 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Benefitfocus by 27.5% in the first quarter. Wells Fargo & Company MN now owns 227,589 shares of the software maker’s stock worth $6,361,000 after buying an additional 49,073 shares during the period. Institutional investors own 81.94% of the company’s stock.
Benefitfocus, Inc. (NASDAQ BNFT) traded up 2.30% during mid-day trading on Friday, hitting $28.95. The stock had a trading volume of 204,673 shares. The stock has a 50 day moving average of $33.13 and a 200-day moving average of $30.91. The firm’s market cap is $902.63 million. Benefitfocus, Inc. has a 1-year low of $24.55 and a 1-year high of $42.49.
Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.09. The firm had revenue of $63.30 million during the quarter, compared to the consensus estimate of $62.07 million. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.22) earnings per share. Analysts predict that Benefitfocus, Inc. will post ($0.30) EPS for the current fiscal year.
A number of research analysts have issued reports on BNFT shares. Chardan Capital boosted their price target on Benefitfocus from $31.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. William Blair upgraded Benefitfocus from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 1st. Zacks Investment Research upgraded Benefitfocus from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday, June 28th. BidaskClub lowered Benefitfocus from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Raymond James Financial, Inc. boosted their price target on Benefitfocus from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $39.00.
Benefitfocus Company Profile
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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