Wells Fargo & Company MN increased its stake in shares of Benefitfocus Inc (NASDAQ:BNFT) by 77.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 339,331 shares of the software maker’s stock after purchasing an additional 147,769 shares during the period. Wells Fargo & Company MN owned 1.04% of Benefitfocus worth $9,213,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Swiss National Bank raised its holdings in Benefitfocus by 1.3% in the 2nd quarter. Swiss National Bank now owns 47,700 shares of the software maker’s stock valued at $1,295,000 after acquiring an additional 600 shares during the last quarter. Raymond James Trust N.A. raised its holdings in Benefitfocus by 9.9% in the 2nd quarter. Raymond James Trust N.A. now owns 13,279 shares of the software maker’s stock valued at $361,000 after acquiring an additional 1,200 shares during the last quarter. Aperio Group LLC raised its holdings in Benefitfocus by 8.2% in the 2nd quarter. Aperio Group LLC now owns 17,745 shares of the software maker’s stock valued at $482,000 after acquiring an additional 1,338 shares during the last quarter. Metropolitan Life Insurance Co NY raised its holdings in Benefitfocus by 21.2% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 8,535 shares of the software maker’s stock valued at $422,000 after acquiring an additional 1,493 shares during the last quarter. Finally, Advisor Group Inc. raised its holdings in Benefitfocus by 11.6% in the 2nd quarter. Advisor Group Inc. now owns 15,110 shares of the software maker’s stock valued at $410,000 after acquiring an additional 1,572 shares during the last quarter. Institutional investors own 97.80% of the company’s stock.

In other Benefitfocus news, CFO Lou Anne Gilmore sold 1,019 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $26.89, for a total value of $27,400.91. Following the sale, the chief financial officer now owns 34,133 shares in the company, valued at $917,836.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 29.00% of the stock is owned by corporate insiders.

Several brokerages have weighed in on BNFT. JPMorgan Chase & Co. began coverage on Benefitfocus in a report on Wednesday, July 3rd. They issued a “neutral” rating and a $32.00 price target for the company. Raymond James set a $30.00 price target on Benefitfocus and gave the company an “outperform” rating in a report on Wednesday, August 7th. Wells Fargo & Co restated a “buy” rating on shares of Benefitfocus in a report on Wednesday, August 7th. Wedbush restated a “buy” rating and set a $40.00 price objective on shares of Benefitfocus in a report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.45.

Shares of BNFT stock traded down $0.22 during trading hours on Friday, hitting $25.93. 963 shares of the company were exchanged, compared to its average volume of 272,312. Benefitfocus Inc has a one year low of $22.82 and a one year high of $60.66. The business’s 50-day simple moving average is $25.87 and its two-hundred day simple moving average is $33.41. The stock has a market capitalization of $796.83 million, a price-to-earnings ratio of -17.32 and a beta of 1.36.

Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings data on Tuesday, August 6th. The software maker reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.22. The business had revenue of $68.60 million for the quarter, compared to analyst estimates of $67.51 million. Benefitfocus’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.24) EPS. As a group, sell-side analysts expect that Benefitfocus Inc will post -1.44 EPS for the current fiscal year.

Benefitfocus Profile

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, suppliers, and brokers in the United States. The company operates through Employer and Carrier segments. Its products for insurance carriers include BenefitsPlace, a transaction-oriented, marketplace solution; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution that bridges the integration gap between carrier and employer systems; eSales for carriers and brokers tools to organize and manage accounts, track leads, generate quotes, and create proposals for various products; and Core & Advanced Analytics, a data analytics solution.

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Institutional Ownership by Quarter for Benefitfocus (NASDAQ:BNFT)

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