Baillie Gifford & Co. Acquires Shares of 238,850 Benefitfocus Inc (BNFT)
Baillie Gifford & Co. purchased a new stake in shares of Benefitfocus Inc (NASDAQ:BNFT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 238,850 shares of the software maker’s stock, valued at approximately $8,038,000. Baillie Gifford & Co. owned approximately 0.77% of Benefitfocus as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of BNFT. Bank of New York Mellon Corp grew its holdings in shares of Benefitfocus by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 52,301 shares of the software maker’s stock valued at $1,462,000 after acquiring an additional 632 shares in the last quarter. American International Group Inc. grew its holdings in shares of Benefitfocus by 7.1% during the 1st quarter. American International Group Inc. now owns 7,926 shares of the software maker’s stock valued at $222,000 after acquiring an additional 523 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Benefitfocus by 93.8% during the 1st quarter. Alliancebernstein L.P. now owns 37,010 shares of the software maker’s stock valued at $1,034,000 after acquiring an additional 17,910 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Benefitfocus by 11.4% during the 1st quarter. Geode Capital Management LLC now owns 121,929 shares of the software maker’s stock valued at $3,407,000 after acquiring an additional 12,501 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Benefitfocus during the 1st quarter valued at $4,995,000. Institutional investors and hedge funds own 85.42% of the company’s stock.
Several equities analysts have recently commented on the stock. Piper Jaffray Companies restated a “buy” rating and set a $34.00 price target on shares of Benefitfocus in a report on Friday. Canaccord Genuity restated a “buy” rating and set a $34.00 price target on shares of Benefitfocus in a report on Monday, October 30th. Berenberg Bank restated a “buy” rating and set a $36.00 price target on shares of Benefitfocus in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Tuesday, August 8th. Finally, William Blair cut shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $38.67.
Shares of Benefitfocus Inc (NASDAQ:BNFT) opened at $25.23 on Friday. Benefitfocus Inc has a 52 week low of $22.30 and a 52 week high of $37.10. The company has a debt-to-equity ratio of -2.53, a quick ratio of 1.12 and a current ratio of 1.12.
Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.08. The business had revenue of $62.45 million during the quarter, compared to analyst estimates of $62.19 million. During the same period in the previous year, the firm posted ($0.14) EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. equities research analysts expect that Benefitfocus Inc will post -0.88 EPS for the current fiscal year.
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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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