Wells Fargo & Company MN Has $12.59 Million Stake in Benefitfocus, Inc. (BNFT)
Wells Fargo & Company MN lifted its position in shares of Benefitfocus, Inc. (NASDAQ:BNFT) by 52.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 346,253 shares of the software maker’s stock after acquiring an additional 118,664 shares during the period. Wells Fargo & Company MN owned approximately 1.12% of Benefitfocus worth $12,586,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Benefitfocus by 13.2% during the 2nd quarter. Legal & General Group Plc now owns 3,593 shares of the software maker’s stock worth $130,000 after acquiring an additional 420 shares in the last quarter. Sei Investments Co. acquired a new position in Benefitfocus during the second quarter valued at approximately $133,000. American International Group Inc. raised its position in Benefitfocus by 7.1% during the first quarter. American International Group Inc. now owns 7,926 shares of the software maker’s stock valued at $222,000 after purchasing an additional 523 shares in the last quarter. Aperio Group LLC acquired a new position in Benefitfocus during the second quarter valued at approximately $222,000. Finally, SG Americas Securities LLC acquired a new position in Benefitfocus during the first quarter valued at approximately $349,000. 84.63% of the stock is owned by institutional investors.
Shares of Benefitfocus, Inc. (NASDAQ BNFT) opened at 33.65 on Monday. The stock has a 50 day moving average of $30.19 and a 200-day moving average of $31.28. The company’s market capitalization is $1.05 billion. Benefitfocus, Inc. has a 1-year low of $24.55 and a 1-year high of $42.49.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $63.30 million for the quarter, compared to the consensus estimate of $62.07 million. During the same quarter in the previous year, the business earned ($0.22) earnings per share. Benefitfocus’s revenue was up 9.3% compared to the same quarter last year. Analysts forecast that Benefitfocus, Inc. will post ($0.30) earnings per share for the current year.
Several analysts recently weighed in on BNFT shares. Canaccord Genuity restated a “buy” rating and set a $35.00 price objective on shares of Benefitfocus in a research report on Tuesday, August 1st. Berenberg Bank reissued a “buy” rating and issued a $36.00 price objective on shares of Benefitfocus in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, June 28th. Chardan Capital lowered shares of Benefitfocus from a “buy” rating to a “neutral” rating and cut their target price for the company from $36.00 to $30.00 in a research report on Friday, August 4th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $43.00 target price on shares of Benefitfocus in a research report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $39.00.
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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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