Benefitfocus Inc (BNFT) Receives Average Rating of “Buy” from Analysts

Shares of Benefitfocus Inc (NASDAQ:BNFT) have received an average rating of “Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $52.73.

BNFT has been the subject of several analyst reports. BidaskClub cut Benefitfocus from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Cantor Fitzgerald assumed coverage on Benefitfocus in a report on Tuesday, April 2nd. They issued an “overweight” rating and a $60.00 price objective for the company. Zacks Investment Research lowered Benefitfocus from a “buy” rating to a “sell” rating in a research note on Monday, March 4th. Royal Bank of Canada lowered Benefitfocus from an “outperform” rating to a “sector perform” rating and set a $58.00 price objective for the company. in a research note on Wednesday, February 27th. Finally, Jefferies Financial Group lowered Benefitfocus from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $48.00 to $55.00 in a research note on Wednesday, February 27th.

In other news, CFO Jonathon E. Dussault sold 7,044 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $47.76, for a total value of $336,421.44. Following the completion of the sale, the chief financial officer now directly owns 74,176 shares in the company, valued at $3,542,645.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph P. Disabato sold 488,211 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $46.80, for a total value of $22,848,274.80. The disclosure for this sale can be found here. Insiders sold 3,760,766 shares of company stock valued at $176,041,313 over the last 90 days. Company insiders own 29.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of BNFT. Advisory Services Network LLC purchased a new stake in shares of Benefitfocus in the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. lifted its holdings in Benefitfocus by 211.2% in the first quarter. Meeder Asset Management Inc. now owns 803 shares of the software maker’s stock valued at $40,000 after acquiring an additional 545 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Benefitfocus by 52.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,255 shares of the software maker’s stock valued at $57,000 after acquiring an additional 433 shares during the last quarter. Pier 88 Investment Partners LLC acquired a new position in Benefitfocus in the fourth quarter valued at approximately $69,000. Finally, Legal & General Group Plc lifted its holdings in Benefitfocus by 84.9% in the third quarter. Legal & General Group Plc now owns 5,861 shares of the software maker’s stock valued at $238,000 after acquiring an additional 2,691 shares during the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.

BNFT traded down $1.10 on Friday, reaching $38.48. 430,145 shares of the stock were exchanged, compared to its average volume of 549,527. Benefitfocus has a fifty-two week low of $26.60 and a fifty-two week high of $60.66. The stock has a market cap of $1.33 billion, a P/E ratio of -25.83 and a beta of 1.42.

Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings results on Tuesday, February 26th. The software maker reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.04. The firm had revenue of $74.80 million for the quarter, compared to analyst estimates of $73.03 million. During the same period in the prior year, the firm posted ($0.06) EPS. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Benefitfocus will post -1.1 EPS for the current fiscal year.

Benefitfocus Company 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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Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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