Benefitfocus (BNFT) Lifted to “Strong-Buy” at ValuEngine

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ValuEngine upgraded shares of Benefitfocus (NASDAQ:BNFT) from a buy rating to a strong-buy rating in a research report released on Tuesday.

Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Benefitfocus from a strong-buy rating to a buy rating in a research report on Wednesday, August 1st. Jefferies Financial Group reissued a buy rating and issued a $43.00 price target on shares of Benefitfocus in a research report on Friday, July 20th. Zacks Investment Research lowered shares of Benefitfocus from a buy rating to a hold rating in a research report on Monday, July 30th. Wedbush began coverage on shares of Benefitfocus in a research report on Thursday, October 18th. They issued an outperform rating and a $42.00 price target for the company. Finally, Chardan Capital increased their price target on shares of Benefitfocus from $34.00 to $36.00 and gave the stock a neutral rating in a research report on Friday, August 3rd. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $39.73.

Shares of BNFT opened at $41.53 on Tuesday. The stock has a market cap of $1.26 billion, a PE ratio of -52.57 and a beta of 1.16. Benefitfocus has a 52 week low of $21.75 and a 52 week high of $45.88.

Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings data on Thursday, November 1st. The software maker reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.05. The company had revenue of $61.00 million for the quarter, compared to analyst estimates of $59.91 million. During the same period in the prior year, the company posted ($0.06) EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts forecast that Benefitfocus will post -1.21 EPS for the current fiscal year.

In other Benefitfocus news, Director Francis J. Pelzer sold 750 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $40.00, for a total transaction of $30,000.00. Following the sale, the director now directly owns 24,275 shares of the company’s stock, valued at $971,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jonathon E. Dussault sold 4,045 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $36.81, for a total transaction of $148,896.45. The disclosure for this sale can be found here. Insiders have sold 10,295 shares of company stock worth $409,514 over the last ninety days. Insiders own 29.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in Benefitfocus by 8.3% during the second quarter. FMR LLC now owns 4,395,000 shares of the software maker’s stock worth $147,672,000 after buying an additional 336,048 shares during the last quarter. BlackRock Inc. grew its stake in Benefitfocus by 25.8% during the second quarter. BlackRock Inc. now owns 1,344,893 shares of the software maker’s stock worth $45,189,000 after buying an additional 275,749 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in Benefitfocus by 16.4% during the second quarter. Artisan Partners Limited Partnership now owns 1,186,444 shares of the software maker’s stock worth $39,865,000 after buying an additional 167,263 shares during the last quarter. Millennium Management LLC grew its stake in Benefitfocus by 776.0% during the second quarter. Millennium Management LLC now owns 735,496 shares of the software maker’s stock worth $24,713,000 after buying an additional 651,532 shares during the last quarter. Finally, Baillie Gifford & Co. grew its stake in Benefitfocus by 88.3% during the second quarter. Baillie Gifford & Co. now owns 696,164 shares of the software maker’s stock worth $23,391,000 after buying an additional 326,460 shares during the last quarter. 93.26% of the stock is currently owned by hedge funds and other institutional investors.

About Benefitfocus

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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