Benefitfocus Inc (NASDAQ:BNFT) has been assigned an average recommendation of “Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $39.78.
A number of equities research analysts have commented on the company. ValuEngine upgraded Benefitfocus from a “hold” rating to a “buy” rating in a research report on Monday, August 6th. BidaskClub downgraded Benefitfocus from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 1st. Jefferies Financial Group restated a “buy” rating and issued a $43.00 target price on shares of Benefitfocus in a research report on Friday, July 20th. Zacks Investment Research downgraded Benefitfocus from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Finally, Wedbush assumed coverage on Benefitfocus in a research report on Thursday, October 18th. They issued an “outperform” rating and a $42.00 target price on the stock.
NASDAQ BNFT traded down $0.12 on Friday, reaching $32.29. 6,243 shares of the company were exchanged, compared to its average volume of 226,975. The firm has a market capitalization of $1.05 billion, a P/E ratio of -41.39 and a beta of 1.07. The company has a debt-to-equity ratio of -3.49, a quick ratio of 0.98 and a current ratio of 0.98. Benefitfocus has a fifty-two week low of $21.75 and a fifty-two week high of $44.70.
In other Benefitfocus news, Director Francis J. Pelzer sold 5,000 shares of Benefitfocus stock in a transaction on Friday, August 24th. The stock was sold at an average price of $42.02, for a total value of $210,100.00. Following the sale, the director now owns 19,275 shares in the company, valued at $809,935.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Francis J. Pelzer sold 750 shares of Benefitfocus stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $40.00, for a total value of $30,000.00. Following the completion of the sale, the director now owns 24,275 shares in the company, valued at approximately $971,000. The disclosure for this sale can be found here. Insiders sold 10,045 shares of company stock worth $399,056 in the last 90 days. Company insiders own 29.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. FMR LLC raised its holdings in shares of Benefitfocus by 8.3% in the 2nd quarter. FMR LLC now owns 4,395,000 shares of the software maker’s stock valued at $147,672,000 after buying an additional 336,048 shares during the period. BlackRock Inc. raised its holdings in shares of Benefitfocus by 25.8% in the 2nd quarter. BlackRock Inc. now owns 1,344,893 shares of the software maker’s stock valued at $45,189,000 after buying an additional 275,749 shares during the period. Artisan Partners Limited Partnership raised its holdings in shares of Benefitfocus by 16.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,186,444 shares of the software maker’s stock valued at $39,865,000 after buying an additional 167,263 shares during the period. Millennium Management LLC raised its holdings in shares of Benefitfocus by 776.0% in the 2nd quarter. Millennium Management LLC now owns 735,496 shares of the software maker’s stock valued at $24,713,000 after buying an additional 651,532 shares during the period. Finally, Baillie Gifford & Co. raised its holdings in shares of Benefitfocus by 88.3% in the 2nd quarter. Baillie Gifford & Co. now owns 696,164 shares of the software maker’s stock valued at $23,391,000 after buying an additional 326,460 shares during the period. Hedge funds and other institutional investors own 93.58% of the company’s stock.
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.
Further Reading: Beta
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