Benefitfocus Inc (NASDAQ:BNFT) Director Francis J. Pelzer sold 5,000 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $42.02, for a total value of $210,100.00. Following the sale, the director now owns 19,275 shares of the company’s stock, valued at approximately $809,935.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of BNFT opened at $43.40 on Thursday. Benefitfocus Inc has a 12 month low of $21.75 and a 12 month high of $44.22. The company has a debt-to-equity ratio of -3.49, a quick ratio of 0.98 and a current ratio of 0.98.
Benefitfocus (NASDAQ:BNFT) last issued its earnings results on Thursday, August 2nd. The software maker reported ($0.24) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.16. The firm had revenue of $60.60 million during the quarter, compared to analysts’ expectations of $56.93 million. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.05) EPS. equities analysts expect that Benefitfocus Inc will post -1.22 EPS for the current year.
Several brokerages have recently commented on BNFT. Raymond James increased their price objective on Benefitfocus from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, August 24th. BidaskClub upgraded Benefitfocus from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 23rd. Jefferies Financial Group reiterated a “buy” rating and set a $43.00 price objective on shares of Benefitfocus in a report on Friday, July 20th. ValuEngine upgraded Benefitfocus from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Finally, Guggenheim began coverage on Benefitfocus in a report on Monday, August 20th. They set a “buy” rating and a $45.00 price objective for the company. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $37.90.
Hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC purchased a new position in Benefitfocus in the 4th quarter worth $173,000. Metropolitan Life Insurance Co. NY raised its stake in Benefitfocus by 59.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 6,581 shares of the software maker’s stock worth $221,000 after acquiring an additional 2,453 shares during the last quarter. Gofen & Glossberg LLC IL purchased a new position in Benefitfocus in the 2nd quarter worth $239,000. Voya Investment Management LLC purchased a new position in Benefitfocus in the 2nd quarter worth $263,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Benefitfocus in the 2nd quarter worth $267,000. Institutional investors own 93.58% of the company’s stock.
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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