Gofen & Glossberg LLC IL Sells 6,800 Shares of Benefitfocus Inc (BNFT)
Gofen & Glossberg LLC IL cut its stake in Benefitfocus Inc (NASDAQ:BNFT) by 38.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,900 shares of the software maker’s stock after selling 6,800 shares during the period. Gofen & Glossberg LLC IL’s holdings in Benefitfocus were worth $294,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC raised its holdings in shares of Benefitfocus by 70.0% in the 2nd quarter. FMR LLC now owns 4,651,067 shares of the software maker’s stock worth $169,066,000 after buying an additional 1,914,954 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of Benefitfocus by 0.6% in the 2nd quarter. Bamco Inc. NY now owns 4,247,487 shares of the software maker’s stock worth $154,396,000 after buying an additional 24,954 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Benefitfocus by 11.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,238,539 shares of the software maker’s stock worth $45,021,000 after buying an additional 129,829 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Benefitfocus by 3.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 968,092 shares of the software maker’s stock worth $35,190,000 after buying an additional 28,491 shares in the last quarter. Finally, Discovery Group I LLC raised its holdings in shares of Benefitfocus by 77.7% in the 3rd quarter. Discovery Group I LLC now owns 749,850 shares of the software maker’s stock worth $25,232,000 after buying an additional 327,845 shares in the last quarter. 85.61% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut Benefitfocus from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Canaccord Genuity reissued a “buy” rating and issued a $34.00 target price on shares of Benefitfocus in a report on Monday, October 30th. BidaskClub raised Benefitfocus from a “strong sell” rating to a “sell” rating in a report on Thursday, December 7th. William Blair cut Benefitfocus from an “outperform” rating to a “market perform” rating in a report on Friday, November 3rd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $34.00 price target on shares of Benefitfocus in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Benefitfocus currently has an average rating of “Hold” and an average target price of $34.38.
Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.08. The business had revenue of $62.45 million for the quarter, compared to analyst estimates of $62.19 million. During the same period in the prior year, the business earned ($0.14) earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. equities analysts anticipate that Benefitfocus Inc will post -0.81 earnings per share for the current fiscal year.
In other Benefitfocus news, CEO Shawn A. Jenkins purchased 37,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $70,318,399.41. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 40.10% of the company’s stock.
Benefitfocus Company Profile
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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