Benefitfocus (NASDAQ:BNFT) Downgraded by BidaskClub to “Sell”

BidaskClub lowered shares of Benefitfocus (NASDAQ:BNFT) from a hold rating to a sell rating in a research note released on Tuesday morning, BidAskClub reports.

A number of other research analysts also recently commented on BNFT. Wedbush lowered their price objective on shares of Benefitfocus from $52.00 to $40.00 and set an outperform rating on the stock in a research report on Monday, July 29th. ValuEngine cut shares of Benefitfocus from a buy rating to a hold rating in a research note on Thursday, May 9th. Zacks Investment Research upgraded shares of Benefitfocus from a hold rating to a buy rating and set a $30.00 price objective for the company in a research note on Thursday, July 25th. Wells Fargo & Co cut their target price on shares of Benefitfocus from $60.00 to $55.00 and set an outperform rating for the company in a research note on Thursday, May 2nd. Finally, Cantor Fitzgerald reiterated a buy rating and set a $60.00 target price on shares of Benefitfocus in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Benefitfocus currently has a consensus rating of Hold and an average price target of $48.00.

Shares of NASDAQ:BNFT opened at $25.11 on Tuesday. The firm has a 50-day moving average price of $26.24. Benefitfocus has a fifty-two week low of $24.02 and a fifty-two week high of $60.66.

Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings data on Wednesday, May 1st. The software maker reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.01). The firm had revenue of $68.30 million for the quarter, compared to the consensus estimate of $67.77 million. Benefitfocus’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.26) earnings per share. On average, equities analysts predict that Benefitfocus will post -1.59 earnings per share for the current year.

In other news, CFO Lou Anne Gilmore sold 1,019 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $917,836.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Raymond Alexander August bought 3,200 shares of the stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $31.15 per share, for a total transaction of $99,680.00. Following the acquisition, the insider now owns 511,925 shares in the company, valued at approximately $15,946,463.75. The disclosure for this purchase can be found here. Insiders own 29.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank lifted its stake in Benefitfocus by 1.3% in the second quarter. Swiss National Bank now owns 47,700 shares of the software maker’s stock valued at $1,295,000 after buying an additional 600 shares during the period. FinTrust Capital Advisors LLC acquired a new position in Benefitfocus in the second quarter valued at approximately $43,000. Pendal Group Ltd lifted its stake in Benefitfocus by 41.6% in the second quarter. Pendal Group Ltd now owns 48,544 shares of the software maker’s stock valued at $1,318,000 after buying an additional 14,266 shares during the period. Advisor Group Inc. lifted its stake in Benefitfocus by 11.6% in the second quarter. Advisor Group Inc. now owns 15,110 shares of the software maker’s stock valued at $410,000 after buying an additional 1,572 shares during the period. Finally, Aperio Group LLC lifted its stake in Benefitfocus by 8.2% in the second quarter. Aperio Group LLC now owns 17,745 shares of the software maker’s stock valued at $482,000 after buying an additional 1,338 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.

About Benefitfocus

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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