Benefitfocus (BNFT) Upgraded at BidaskClub

BidaskClub upgraded shares of Benefitfocus (NASDAQ:BNFT) from a strong sell rating to a sell rating in a research note issued to investors on Thursday morning.

A number of other analysts have also recently commented on BNFT. Zacks Investment Research upgraded shares of Benefitfocus from a sell rating to a hold rating in a research report on Tuesday, November 7th. Piper Jaffray Companies restated a buy rating and issued a $34.00 price objective on shares of Benefitfocus in a research report on Friday, November 3rd. William Blair cut shares of Benefitfocus from an outperform rating to a market perform rating in a research report on Friday, November 3rd. Canaccord Genuity restated a buy rating and issued a $34.00 price objective on shares of Benefitfocus in a research report on Monday, October 30th. Finally, Berenberg Bank restated a buy rating and issued a $36.00 price objective on shares of Benefitfocus in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $35.38.

Shares of Benefitfocus (BNFT) opened at $26.90 on Thursday. Benefitfocus has a 1 year low of $22.30 and a 1 year high of $37.10. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of -2.39.

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

In other news, CEO Shawn A. Jenkins bought 37,000 shares of the stock in a transaction on Monday, November 6th. The stock was purchased 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 owns 2,782,683 shares in the company, valued at $70,318,399.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 40.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in Benefitfocus by 13.2% during the 2nd quarter. Legal & General Group Plc now owns 3,593 shares of the software maker’s stock worth $130,000 after purchasing an additional 420 shares in the last quarter. Nationwide Fund Advisors increased its holdings in Benefitfocus by 20.6% during the 2nd quarter. Nationwide Fund Advisors now owns 9,029 shares of the software maker’s stock worth $328,000 after purchasing an additional 1,542 shares in the last quarter. Sei Investments Co. increased its holdings in Benefitfocus by 65.1% during the 3rd quarter. Sei Investments Co. now owns 6,025 shares of the software maker’s stock worth $203,000 after purchasing an additional 2,375 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Benefitfocus by 22.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,092 shares of the software maker’s stock worth $476,000 after purchasing an additional 2,410 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in Benefitfocus by 11.0% during the 2nd quarter. California State Teachers Retirement System now owns 28,198 shares of the software maker’s stock worth $1,025,000 after purchasing an additional 2,800 shares in the last quarter. Hedge funds and other institutional investors own 85.75% of the company’s stock.

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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.

Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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