Geode Capital Management LLC increased its position in Benefitfocus (NASDAQ:BNFT) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 204,988 shares of the software maker’s stock after purchasing an additional 16,186 shares during the quarter. Geode Capital Management LLC owned approximately 0.66% of Benefitfocus worth $5,534,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in BNFT. Bank of New York Mellon Corp increased its position in Benefitfocus by 10.3% in the third quarter. Bank of New York Mellon Corp now owns 77,239 shares of the software maker’s stock worth $2,599,000 after purchasing an additional 7,194 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Benefitfocus by 10.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 75,845 shares of the software maker’s stock worth $2,553,000 after buying an additional 7,247 shares during the last quarter. Royce & Associates LP boosted its holdings in Benefitfocus by 100.0% during the third quarter. Royce & Associates LP now owns 100,000 shares of the software maker’s stock worth $3,365,000 after buying an additional 50,000 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Benefitfocus by 12.5% during the third quarter. Point72 Asset Management L.P. now owns 125,400 shares of the software maker’s stock worth $4,220,000 after buying an additional 13,900 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in Benefitfocus by 37.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,752,918 shares of the software maker’s stock worth $47,329,000 after buying an additional 473,522 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.
In other Benefitfocus news, Director A Lanham Napier acquired 3,985 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $25.16 per share, for a total transaction of $100,262.60. Following the acquisition, the director now directly owns 25,497 shares of the company’s stock, valued at approximately $641,504.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 40.10% of the company’s stock.
Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings data on Wednesday, March 14th. The software maker reported ($0.06) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The business had revenue of $66.80 million for the quarter, compared to the consensus estimate of $66.47 million. During the same quarter last year, the firm earned ($0.09) EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. equities analysts expect that Benefitfocus will post -1.27 EPS for the current fiscal year.
A number of equities analysts have issued reports on BNFT shares. Jefferies Group restated a “buy” rating and set a $31.00 target price on shares of Benefitfocus in a report on Thursday, March 22nd. Canaccord Genuity restated a “buy” rating and set a $29.00 target price (down previously from $32.00) on shares of Benefitfocus in a report on Thursday, March 15th. Chardan Capital reduced their target price on Benefitfocus from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, March 15th. ValuEngine cut Benefitfocus from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research upgraded Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $30.78.
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Benefitfocus Company Profile
Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. It operates through Employer and Carrier segments. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.
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