Jefferies Financial Group Increases Benefitfocus (BNFT) Price Target to $48.00

Benefitfocus (NASDAQ:BNFT) had its target price lifted by Jefferies Financial Group to $48.00 in a report issued on Friday, November 2nd, The Fly reports. The firm currently has a buy rating on the software maker’s stock.

Other equities research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Benefitfocus from a hold rating to a buy rating in a research report on Monday, August 6th. BidaskClub cut shares of Benefitfocus from a strong-buy rating to a buy rating in a research report on Wednesday, August 1st. Wedbush assumed coverage on shares of Benefitfocus in a research report on Thursday, October 18th. They set an outperform rating and a $42.00 price objective for the company. Zacks Investment Research cut shares of Benefitfocus from a buy rating to a hold rating in a research report on Monday, July 30th. Finally, Chardan Capital increased their price objective on shares of Benefitfocus from $34.00 to $36.00 and gave the stock a neutral rating in a research report on Friday, August 3rd. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Benefitfocus currently has a consensus rating of Buy and a consensus price target of $40.45.

NASDAQ BNFT traded up $0.30 on Friday, hitting $44.18. The company’s stock had a trading volume of 292,125 shares, compared to its average volume of 288,009. Benefitfocus has a 1-year low of $21.75 and a 1-year high of $45.88. The stock has a market cap of $1.35 billion, a P/E ratio of -55.92 and a beta of 1.16.

Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Thursday, November 1st. The software maker reported ($0.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. The firm had revenue of $61.00 million for the quarter, compared to analyst estimates of $59.91 million. During the same quarter last year, the company earned ($0.06) earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that Benefitfocus will post -1.18 EPS for the current year.

In other Benefitfocus news, Director Francis J. Pelzer sold 750 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $40.00, for a total value of $30,000.00. Following the transaction, the director now directly owns 24,275 shares of the company’s stock, valued at $971,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jonathon E. Dussault sold 4,045 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $36.81, for a total transaction of $148,896.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,295 shares of company stock worth $409,514. 29.00% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in BNFT. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Benefitfocus in the third quarter valued at $185,000. Vanguard Capital Wealth Advisors bought a new position in shares of Benefitfocus during the third quarter valued at about $210,000. Metropolitan Life Insurance Co. NY lifted its position in shares of Benefitfocus by 59.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 6,581 shares of the software maker’s stock valued at $221,000 after purchasing an additional 2,453 shares in the last quarter. Gofen & Glossberg LLC IL bought a new position in shares of Benefitfocus during the second quarter valued at about $239,000. Finally, Voya Investment Management LLC bought a new position in shares of Benefitfocus during the second quarter valued at about $263,000. 93.26% of the stock is currently owned by hedge funds and other institutional investors.

Benefitfocus Company Profile

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. It operates through Employer and Carrier segments. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.

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