Benefitfocus, Inc. (BNFT) Stock Rating Lowered by William Blair
William Blair cut shares of Benefitfocus, Inc. (NASDAQ:BNFT) from an outperform rating to a market perform rating in a research note published on Friday, MarketBeat.com reports.
A number of other analysts have also recently weighed in on BNFT. BidaskClub cut Benefitfocus from a buy rating to a hold rating in a research report on Monday, July 24th. Raymond James Financial, Inc. upped their price target on Benefitfocus from $38.00 to $43.00 and gave the company an outperform rating in a research report on Thursday, July 27th. Canaccord Genuity reiterated a buy rating and issued a $35.00 price target on shares of Benefitfocus in a research report on Tuesday, August 1st. Zacks Investment Research cut Benefitfocus from a buy rating to a hold rating in a research report on Tuesday, August 1st. Finally, Chardan Capital cut Benefitfocus from a buy rating to a neutral rating and lowered their price target for the company from $36.00 to $30.00 in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Benefitfocus has an average rating of Hold and a consensus target price of $35.38.
Benefitfocus (NASDAQ:BNFT) traded down $0.20 on Friday, hitting $25.03. The stock had a trading volume of 260,735 shares, compared to its average volume of 207,806. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of -2.53. Benefitfocus has a 1-year low of $22.30 and a 1-year high of $37.10.
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 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 quarter in the prior year, the firm posted ($0.14) earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. research analysts predict that Benefitfocus will post -0.88 earnings per share for the current year.
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In other Benefitfocus news, CEO Shawn A. Jenkins bought 37,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were bought at an average price of $25.27 per share, for a total transaction of $934,990.00. Following the completion of the acquisition, the chief executive officer now owns 2,782,683 shares of the company’s stock, valued at $70,318,399.41. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 40.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Benefitfocus by 10.3% during 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 last quarter. Sei Investments Co. grew its holdings in shares of Benefitfocus by 65.1% during the third quarter. Sei Investments Co. now owns 6,025 shares of the software maker’s stock worth $203,000 after purchasing an additional 2,375 shares during the last quarter. BT Investment Management Ltd grew its holdings in shares of Benefitfocus by 69.9% during the third quarter. BT Investment Management Ltd now owns 40,758 shares of the software maker’s stock worth $1,372,000 after purchasing an additional 16,774 shares during the last quarter. Baillie Gifford & Co. bought a new stake in shares of Benefitfocus during the third quarter worth $8,038,000. Finally, Peregrine Capital Management LLC grew its holdings in shares of Benefitfocus by 3.5% during the third quarter. Peregrine Capital Management LLC now owns 640,470 shares of the software maker’s stock worth $21,552,000 after purchasing an additional 21,778 shares during the last quarter. Institutional investors own 84.17% of the company’s stock.
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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