Benefitfocus Inc (NASDAQ:BNFT) Given Average Recommendation of “Hold” by Brokerages

Shares of Benefitfocus Inc (NASDAQ:BNFT) have been given a consensus rating of “Hold” by the thirteen research firms that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $42.30.

A number of research analysts recently weighed in on the stock. Wells Fargo & Co reissued a “buy” rating on shares of Benefitfocus in a report on Wednesday, August 7th. Raymond James set a $30.00 target price on shares of Benefitfocus and gave the company an “outperform” rating in a report on Wednesday, August 7th. BidaskClub raised shares of Benefitfocus from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Cantor Fitzgerald cut their target price on shares of Benefitfocus from $60.00 to $47.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Benefitfocus in a report on Wednesday, July 3rd. They issued a “neutral” rating and a $32.00 target price for the company.

In related news, CFO Lou Anne Gilmore sold 1,019 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $26.89, for a total value of $27,400.91. Following the completion of the transaction, the chief financial officer now directly owns 34,133 shares of the company’s stock, valued at $917,836.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 29.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of BNFT. Royal Bank of Canada grew its stake in Benefitfocus by 15.9% in the second quarter. Royal Bank of Canada now owns 124,423 shares of the software maker’s stock valued at $3,378,000 after purchasing an additional 17,042 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in Benefitfocus by 9.4% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,650 shares of the software maker’s stock valued at $126,000 after purchasing an additional 400 shares during the last quarter. Bamco Inc. NY grew its stake in Benefitfocus by 0.7% in the second quarter. Bamco Inc. NY now owns 4,144,001 shares of the software maker’s stock valued at $112,510,000 after purchasing an additional 30,720 shares during the last quarter. Voloridge Investment Management LLC grew its stake in Benefitfocus by 224.4% in the second quarter. Voloridge Investment Management LLC now owns 42,555 shares of the software maker’s stock valued at $1,155,000 after purchasing an additional 29,438 shares during the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in Benefitfocus in the second quarter valued at about $5,567,000.

BNFT traded down $0.58 during trading on Friday, reaching $25.90. 353,585 shares of the company traded hands, compared to its average volume of 400,709. Benefitfocus has a 12-month low of $22.82 and a 12-month high of $60.66. The firm has a fifty day simple moving average of $25.92 and a 200 day simple moving average of $36.30. The company has a market cap of $846.93 million, a P/E ratio of -17.38 and a beta of 1.30.

Benefitfocus (NASDAQ:BNFT) last announced its quarterly earnings data on Tuesday, August 6th. The software maker reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.22. The company had revenue of $68.60 million for the quarter, compared to analysts’ expectations of $67.51 million. During the same period last year, the business earned ($0.24) earnings per share. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, equities research analysts predict that Benefitfocus will post -1.44 earnings per share for the current year.

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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Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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