Benefitfocus (BNFT) Upgraded at ValuEngine

Benefitfocus (NASDAQ:BNFT) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Friday.

A number of other analysts have also recently weighed in on BNFT. BidaskClub raised shares of Benefitfocus from a “sell” rating to a “hold” rating in a report on Saturday, April 14th. Berenberg Bank set a $29.00 price objective on shares of Benefitfocus and gave the stock a “buy” rating in a report on Thursday, March 15th. Canaccord Genuity reissued a “buy” rating and set a $29.00 price objective (down previously from $32.00) on shares of Benefitfocus in a report on Thursday, March 15th. Royal Bank of Canada cut their target price on shares of Benefitfocus to $24.00 and set a “sector perform” rating on the stock in a report on Thursday, March 15th. Finally, Jefferies Group cut their target price on shares of Benefitfocus to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $30.78.

BNFT stock opened at $29.50 on Friday. The company has a debt-to-equity ratio of -2.23, a quick ratio of 0.96 and a current ratio of 0.96. Benefitfocus has a twelve month low of $21.75 and a twelve month high of $37.10. The company has a market cap of $886.02, a price-to-earnings ratio of -37.34 and a beta of 0.94.

Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings data on Wednesday, March 14th. The software maker reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $66.80 million for the quarter, compared to analyst estimates of $66.47 million. During the same period in the previous year, the business posted ($0.09) EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. analysts predict that Benefitfocus will post -1.27 earnings per share for the current year.

In other Benefitfocus news, Director A Lanham Napier bought 3,985 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average cost of $25.16 per share, with a total value of $100,262.60. Following the acquisition, the director now directly owns 25,497 shares of the company’s stock, valued at approximately $641,504.52. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 40.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Frontier Capital Management Co. LLC increased its stake in Benefitfocus by 37.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,752,918 shares of the software maker’s stock valued at $47,329,000 after buying an additional 473,522 shares during the period. BlackRock Inc. increased its stake in Benefitfocus by 7.3% in the 4th quarter. BlackRock Inc. now owns 1,106,424 shares of the software maker’s stock valued at $29,874,000 after buying an additional 74,843 shares during the period. ArrowMark Colorado Holdings LLC increased its stake in Benefitfocus by 83.2% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 689,102 shares of the software maker’s stock valued at $18,606,000 after buying an additional 312,930 shares during the period. Peregrine Capital Management LLC increased its stake in Benefitfocus by 0.6% in the 4th quarter. Peregrine Capital Management LLC now owns 644,503 shares of the software maker’s stock valued at $17,402,000 after buying an additional 4,033 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Benefitfocus by 30.6% in the 4th quarter. Wells Fargo & Company MN now owns 310,023 shares of the software maker’s stock valued at $8,370,000 after buying an additional 72,723 shares during the period. 85.94% of the stock is currently owned by institutional investors.

Benefitfocus Company Profile

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.

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

Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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