Rothschild & Co. Asset Management US Inc. bought a new position in shares of Benefitfocus Inc (NASDAQ:BNFT) during the first quarter, HoldingsChannel reports. The firm bought 425,833 shares of the software maker’s stock, valued at approximately $21,087,000.
Several other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Benefitfocus by 13.6% during the 4th quarter. BlackRock Inc. now owns 1,706,575 shares of the software maker’s stock worth $78,026,000 after purchasing an additional 204,222 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Benefitfocus by 41.9% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,637,000 shares of the software maker’s stock valued at $81,064,000 after purchasing an additional 483,700 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Benefitfocus by 4.0% in the 1st quarter. Baillie Gifford & Co. now owns 863,179 shares of the software maker’s stock valued at $42,745,000 after purchasing an additional 33,000 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Benefitfocus by 126.9% in the 4th quarter. Two Sigma Investments LP now owns 304,197 shares of the software maker’s stock worth $13,908,000 after acquiring an additional 170,131 shares during the last quarter. Finally, Polar Capital LLP lifted its holdings in shares of Benefitfocus by 6.4% in the 4th quarter. Polar Capital LLP now owns 303,854 shares of the software maker’s stock worth $13,892,000 after acquiring an additional 18,365 shares during the last quarter. Hedge funds and other institutional investors own 97.68% of the company’s stock.
In other news, insider Raymond Alexander August bought 3,200 shares of Benefitfocus stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $31.15 per share, with a total value of $99,680.00. Following the completion of the transaction, the insider now owns 511,925 shares in the company, valued at approximately $15,946,463.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Francis J. Pelzer sold 1,630 shares of the business’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $60.04, for a total transaction of $97,865.20. Following the transaction, the director now directly owns 16,145 shares in the company, valued at $969,345.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,760,766 shares of company stock worth $176,036,493. Corporate insiders own 29.00% of the company’s stock.
Shares of NASDAQ BNFT traded up $0.88 during trading on Friday, reaching $29.17. 6,954 shares of the stock were exchanged, compared to its average volume of 561,427. Benefitfocus Inc has a twelve month low of $28.11 and a twelve month high of $60.66. The stock has a market cap of $987.63 million, a P/E ratio of -19.71 and a beta of 1.30.
Benefitfocus (NASDAQ:BNFT) last posted its earnings results on Wednesday, May 1st. The software maker reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.77 million. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts forecast that Benefitfocus Inc will post -1.6 earnings per share for the current fiscal year.
Several brokerages have recently commented on BNFT. BidaskClub lowered shares of Benefitfocus from a “sell” rating to a “strong sell” rating in a report on Friday, May 10th. Zacks Investment Research raised shares of Benefitfocus from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. ValuEngine cut shares of Benefitfocus from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Co reduced their price target on shares of Benefitfocus from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada cut shares of Benefitfocus from an “outperform” rating to a “sector perform” rating and set a $58.00 price target on the stock. in a research report on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Benefitfocus presently has a consensus rating of “Hold” and an average target price of $53.73.
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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