Swiss National Bank raised its position in Benefitfocus, Inc. (NASDAQ:BNFT) by 16.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 25,600 shares of the software maker’s stock after purchasing an additional 3,600 shares during the period. Swiss National Bank owned 0.08% of Benefitfocus worth $931,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. FMR LLC lifted its holdings in Benefitfocus by 10.4% in the 1st quarter. FMR LLC now owns 2,736,113 shares of the software maker’s stock valued at $76,475,000 after purchasing an additional 257,567 shares in the last quarter. Credit Suisse AG lifted its holdings in Benefitfocus by 4,598.7% in the 1st quarter. Credit Suisse AG now owns 623,144 shares of the software maker’s stock valued at $17,416,000 after purchasing an additional 609,882 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Benefitfocus by 0.7% in the 1st quarter. Wellington Management Group LLP now owns 528,870 shares of the software maker’s stock valued at $14,782,000 after purchasing an additional 3,822 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Benefitfocus in the 1st quarter valued at $4,995,000. Finally, Geode Capital Management LLC lifted its holdings in Benefitfocus by 11.4% in the 1st quarter. Geode Capital Management LLC now owns 121,929 shares of the software maker’s stock valued at $3,407,000 after purchasing an additional 12,501 shares in the last quarter. Institutional investors own 84.63% of the company’s stock.
BNFT has been the topic of a number of research reports. BidaskClub lowered Benefitfocus from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Raymond James Financial, Inc. raised their price objective on Benefitfocus from $38.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Canaccord Genuity restated a “buy” rating and issued a $35.00 price objective on shares of Benefitfocus in a report on Tuesday, August 1st. Zacks Investment Research lowered Benefitfocus from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Chardan Capital lowered Benefitfocus from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $30.00 in a report on Friday, August 4th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Benefitfocus has an average rating of “Buy” and a consensus target price of $39.78.
Benefitfocus, Inc. (NASDAQ:BNFT) opened at 30.35 on Thursday. Benefitfocus, Inc. has a 12-month low of $24.55 and a 12-month high of $39.80. The stock’s market cap is $946.28 million. The stock’s 50 day moving average price is $31.41 and its 200 day moving average price is $31.99.
Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. The company had revenue of $63.30 million during the quarter, compared to analysts’ expectations of $62.07 million. During the same quarter in the prior year, the company earned ($0.22) earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Analysts forecast that Benefitfocus, Inc. will post ($0.30) EPS for the current fiscal year.
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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