Rothschild & Co. Asset Management US Inc. boosted its position in Benefitfocus Inc (NASDAQ:BNFT) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 438,401 shares of the software maker’s stock after purchasing an additional 12,568 shares during the quarter. Rothschild & Co. Asset Management US Inc. owned approximately 1.35% of Benefitfocus worth $11,903,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Advisory Services Network LLC purchased a new stake in shares of Benefitfocus in the fourth quarter worth $27,000. Meeder Asset Management Inc. grew its stake in shares of Benefitfocus by 211.2% in the first quarter. Meeder Asset Management Inc. now owns 803 shares of the software maker’s stock worth $40,000 after acquiring an additional 545 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Benefitfocus in the first quarter worth $162,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Benefitfocus by 19.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,760 shares of the software maker’s stock worth $236,000 after acquiring an additional 766 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of Benefitfocus by 396.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,042 shares of the software maker’s stock worth $322,000 after acquiring an additional 5,624 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.
BNFT stock traded up $1.87 during trading on Wednesday, reaching $25.36. The stock had a trading volume of 11,284 shares, compared to its average volume of 425,502. Benefitfocus Inc has a 52 week low of $22.82 and a 52 week high of $60.66. The firm’s 50 day moving average is $26.01. The company has a market capitalization of $816.84 million, a price-to-earnings ratio of -16.89 and a beta of 1.30.
In other news, insider Raymond Alexander August bought 3,200 shares of the stock in a transaction on Monday, May 13th. The shares were bought at an average price of $31.15 per share, with a total value of $99,680.00. Following the completion of the acquisition, the insider now owns 511,925 shares in the company, valued at $15,946,463.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lou Anne Gilmore sold 1,019 shares of the 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 completion of the transaction, the chief financial officer now directly owns 34,133 shares in the company, valued at approximately $917,836.37. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently commented on the company. Raymond James reissued an “outperform” rating and issued a $30.00 target price (down from $50.00) on shares of Benefitfocus in a research note on Wednesday. Zacks Investment Research raised Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Thursday, July 25th. Cantor Fitzgerald dropped their price objective on Benefitfocus from $60.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Co dropped their price objective on Benefitfocus from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Finally, BidaskClub cut Benefitfocus from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Benefitfocus presently has a consensus rating of “Hold” and a consensus price target of $45.36.
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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