The Manufacturers Life Insurance Company grew its position in shares of Benefitfocus, Inc. (NASDAQ:BNFT) by 22.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,092 shares of the software maker’s stock after buying an additional 2,410 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Benefitfocus were worth $476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BNFT. FMR LLC lifted its holdings in shares of Benefitfocus by 70.0% during the 2nd quarter. FMR LLC now owns 4,651,067 shares of the software maker’s stock valued at $169,066,000 after buying an additional 1,914,954 shares during the period. Oak Ridge Investments LLC lifted its holdings in shares of Benefitfocus by 199.2% during the 2nd quarter. Oak Ridge Investments LLC now owns 346,805 shares of the software maker’s stock valued at $12,606,000 after buying an additional 230,892 shares during the period. Renaissance Technologies LLC bought a new position in shares of Benefitfocus during the 1st quarter valued at $4,995,000. Vanguard Group Inc. lifted its holdings in shares of Benefitfocus by 11.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,238,539 shares of the software maker’s stock valued at $45,021,000 after buying an additional 129,829 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Benefitfocus by 52.1% during the 2nd quarter. Wells Fargo & Company MN now owns 346,253 shares of the software maker’s stock valued at $12,586,000 after buying an additional 118,664 shares during the period. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Benefitfocus, Inc. (BNFT) opened at $26.70 on Friday. Benefitfocus, Inc. has a twelve month low of $22.30 and a twelve month high of $37.10. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of -2.39.

Benefitfocus (NASDAQ:BNFT) last announced its earnings results on Thursday, November 2nd. The software maker reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.08. The company had revenue of $62.45 million during the quarter, compared to the consensus estimate of $62.19 million. During the same period in the prior year, the business posted ($0.14) earnings per share. Benefitfocus’s revenue for the quarter was up 7.6% compared to the same quarter last year. equities research analysts predict that Benefitfocus, Inc. will post -0.81 EPS for the current year.

Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Benefitfocus from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 target price on shares of Benefitfocus in a report on Tuesday, August 1st. Chardan Capital cut Benefitfocus from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $30.00 in a report on Friday, August 4th. Berenberg Bank reaffirmed a “buy” rating and issued a $36.00 target price on shares of Benefitfocus in a report on Thursday, August 10th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $43.00 target price on shares of Benefitfocus in a report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $35.38.

In other Benefitfocus news, CEO Shawn A. Jenkins purchased 37,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were acquired at an average cost of $25.27 per share, with a total value of $934,990.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,782,683 shares in the company, valued at $70,318,399.41. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 40.10% of the stock is owned by company insiders.

TRADEMARK VIOLATION WARNING: “Benefitfocus, Inc. (BNFT) Shares Bought by The Manufacturers Life Insurance Company” was reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.watchlistnews.com/benefitfocus-inc-bnft-shares-bought-by-the-manufacturers-life-insurance-company/1726793.html.

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.

Institutional Ownership by Quarter for Benefitfocus (NASDAQ:BNFT)

Receive News & Ratings for Benefitfocus Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Benefitfocus Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.