Insider Buying: Benefitfocus Inc (BNFT) Insider Buys 3,200 Shares of Stock

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Benefitfocus Inc (NASDAQ:BNFT) insider Raymond Alexander August bought 3,200 shares of the firm’s stock in a transaction on 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 purchase, the insider now directly owns 511,925 shares of the company’s stock, valued at approximately $15,946,463.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NASDAQ:BNFT opened at $32.69 on Friday. Benefitfocus Inc has a 52 week low of $29.60 and a 52 week high of $60.66. The company has a market cap of $1.02 billion, a PE ratio of -21.94 and a beta of 1.30.

Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings results on Wednesday, May 1st. The software maker reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.01). The firm had revenue of $68.30 million for the quarter, compared to analysts’ expectations of $67.77 million. During the same quarter last year, the firm posted ($0.26) EPS. The firm’s revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that Benefitfocus Inc will post -1.6 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new stake in Benefitfocus in the fourth quarter worth approximately $27,000. Meeder Asset Management Inc. boosted its holdings in 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 purchasing an additional 545 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Benefitfocus by 52.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,255 shares of the software maker’s stock worth $57,000 after purchasing an additional 433 shares during the last quarter. Pier 88 Investment Partners LLC purchased a new stake in Benefitfocus in the fourth quarter worth approximately $69,000. Finally, Great West Life Assurance Co. Can boosted its holdings in Benefitfocus by 81.7% in the first quarter. Great West Life Assurance Co. Can now owns 2,493 shares of the software maker’s stock worth $123,000 after purchasing an additional 1,121 shares during the last quarter. Institutional investors own 87.49% of the company’s stock.

A number of equities analysts have weighed in on BNFT shares. Jefferies Financial Group downgraded shares of Benefitfocus from a “buy” rating to a “hold” rating and raised their target price for the company from $48.00 to $55.00 in a research note on Wednesday, February 27th. BidaskClub cut shares of Benefitfocus from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Zacks Investment Research upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Wednesday, January 23rd. ValuEngine cut shares of Benefitfocus from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada cut their price target on shares of Benefitfocus to $49.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Benefitfocus presently has a consensus rating of “Hold” and a consensus price target of $53.73.

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About Benefitfocus

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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Insider Buying and Selling by Quarter for Benefitfocus (NASDAQ:BNFT)

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