Ameriprise Financial Inc. bought a new stake in Benefitfocus, Inc. (NASDAQ:BNFT) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 20,438 shares of the software maker’s stock, valued at approximately $743,000. Ameriprise Financial Inc. owned approximately 0.07% of Benefitfocus as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in Benefitfocus by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 52,301 shares of the software maker’s stock valued at $1,462,000 after purchasing an additional 632 shares during the last quarter. American International Group Inc. boosted its holdings in Benefitfocus by 7.1% in the first quarter. American International Group Inc. now owns 7,926 shares of the software maker’s stock valued at $222,000 after purchasing an additional 523 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Benefitfocus by 93.8% in the first quarter. Alliancebernstein L.P. now owns 37,010 shares of the software maker’s stock valued at $1,034,000 after purchasing an additional 17,910 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Benefitfocus by 11.4% in the first 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 during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Benefitfocus in the first quarter valued at about $4,995,000. Institutional investors and hedge funds own 84.17% of the company’s stock.

In other news, CEO Shawn A. Jenkins bought 37,000 shares of Benefitfocus stock in a transaction on Monday, November 6th. The shares were bought at an average price of $25.27 per share, with a total value of $934,990.00. Following the acquisition, the chief executive officer now directly owns 2,782,683 shares in the company, valued at approximately $70,318,399.41. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 40.10% of the company’s stock.

Benefitfocus, Inc. (NASDAQ:BNFT) opened at $25.85 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of -2.39. Benefitfocus, Inc. has a 1-year low of $22.30 and a 1-year high of $37.10.

Benefitfocus (NASDAQ:BNFT) last released its earnings results on Thursday, November 2nd. The software maker reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $62.45 million for the quarter, compared to the consensus estimate of $62.19 million. During the same period in the prior year, the business earned ($0.14) EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. sell-side analysts anticipate that Benefitfocus, Inc. will post -0.81 earnings per share for the current year.

A number of brokerages recently commented on BNFT. Zacks Investment Research raised Benefitfocus from a “sell” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies reissued a “buy” rating and issued a $34.00 price target on shares of Benefitfocus in a report on Friday, November 3rd. William Blair downgraded Benefitfocus from an “outperform” rating to a “market perform” rating in a report on Friday, November 3rd. Canaccord Genuity reissued a “buy” rating and issued a $34.00 price target on shares of Benefitfocus in a report on Monday, October 30th. Finally, Berenberg Bank reissued a “buy” rating and issued a $36.00 price target on shares of Benefitfocus in a report on Thursday, August 10th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Benefitfocus presently has a consensus rating of “Buy” and a consensus price target of $35.38.

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About Benefitfocus

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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Institutional Ownership by Quarter for Benefitfocus (NASDAQ:BNFT)

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