Fmr LLC boosted its holdings in Benefitfocus Inc (NASDAQ:BNFT) by 8.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,395,000 shares of the software maker’s stock after acquiring an additional 336,048 shares during the period. Fmr LLC owned 13.78% of Benefitfocus worth $147,672,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. 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 valued at $221,000 after acquiring an additional 2,453 shares during the period. Macquarie Group Ltd. raised its stake in Benefitfocus by 4.8% in the 2nd quarter. Macquarie Group Ltd. now owns 54,479 shares of the software maker’s stock valued at $1,830,000 after acquiring an additional 2,505 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Benefitfocus by 16.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 20,252 shares of the software maker’s stock valued at $680,000 after acquiring an additional 2,870 shares during the period. Gagnon Securities LLC raised its stake in Benefitfocus by 17.8% in the 2nd quarter. Gagnon Securities LLC now owns 19,384 shares of the software maker’s stock valued at $651,000 after acquiring an additional 2,927 shares during the period. Finally, MetLife Investment Advisors LLC raised its stake in Benefitfocus by 45.8% in the 2nd quarter. MetLife Investment Advisors LLC now owns 9,362 shares of the software maker’s stock valued at $315,000 after acquiring an additional 2,943 shares during the period. Institutional investors and hedge funds own 93.26% of the company’s stock.
A number of research firms recently weighed in on BNFT. ValuEngine upgraded Benefitfocus from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Wedbush increased their price target on Benefitfocus from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday. Piper Jaffray Companies restated an “overweight” rating and issued a $49.00 price target on shares of Benefitfocus in a research note on Friday. Jefferies Financial Group upped their price objective on Benefitfocus to $48.00 and gave the company a “buy” rating in a report on Friday. Finally, BidaskClub raised Benefitfocus from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $39.73.
In other news, Director Francis J. Pelzer sold 5,000 shares of the stock in a transaction on Friday, August 24th. The stock was sold at an average price of $42.02, for a total transaction of $210,100.00. Following the sale, the director now directly owns 19,275 shares of the company’s stock, valued at approximately $809,935.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jonathon E. Dussault sold 4,045 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $36.81, for a total value of $148,896.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,045 shares of company stock worth $399,056. Insiders own 29.00% of the company’s stock.
Shares of NASDAQ BNFT opened at $41.50 on Tuesday. Benefitfocus Inc has a one year low of $21.75 and a one year high of $45.88. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -52.53 and a beta of 1.16.
Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings data on Thursday, November 1st. The software maker reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. The firm had revenue of $61.00 million during the quarter, compared to analyst estimates of $59.91 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts predict that Benefitfocus Inc will post -1.21 earnings per share for the current year.
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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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