A number of other research analysts have also recently commented on the company. Goldman Sachs Group upped their price target on Benefitfocus from $11.00 to $12.00 in a research note on Monday, June 29th. Zacks Investment Research cut Benefitfocus from a buy rating to a hold rating in a research note on Tuesday, August 11th. Piper Sandler upped their price target on Benefitfocus from $26.00 to $30.00 and gave the stock an overweight rating in a research note on Thursday, August 6th. Finally, Raymond James restated a buy rating on shares of Benefitfocus in a research note on Monday, August 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Benefitfocus has an average rating of Buy and an average price target of $25.13.
Shares of Benefitfocus stock opened at $11.34 on Thursday. The firm has a market capitalization of $365.84 million, a price-to-earnings ratio of -9.30 and a beta of 1.61. Benefitfocus has a fifty-two week low of $6.09 and a fifty-two week high of $25.50. The stock has a 50 day moving average of $10.99 and a 200 day moving average of $10.67.
Several hedge funds and other institutional investors have recently made changes to their positions in BNFT. ArrowMark Colorado Holdings LLC raised its stake in shares of Benefitfocus by 43.4% in the first quarter. ArrowMark Colorado Holdings LLC now owns 2,987,357 shares of the software maker’s stock valued at $26,617,000 after acquiring an additional 903,693 shares in the last quarter. Vanguard Group Inc. raised its stake in Benefitfocus by 10.1% in the second quarter. Vanguard Group Inc. now owns 2,799,758 shares of the software maker’s stock valued at $30,126,000 after buying an additional 256,115 shares in the last quarter. Formula Growth Ltd. raised its stake in Benefitfocus by 123.5% in the second quarter. Formula Growth Ltd. now owns 425,000 shares of the software maker’s stock valued at $4,573,000 after buying an additional 234,882 shares in the last quarter. Two Sigma Investments LP raised its stake in Benefitfocus by 56.0% in the first quarter. Two Sigma Investments LP now owns 499,050 shares of the software maker’s stock valued at $4,447,000 after buying an additional 179,156 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in Benefitfocus by 45.3% in the first quarter. Two Sigma Advisers LP now owns 453,200 shares of the software maker’s stock valued at $4,038,000 after buying an additional 141,200 shares in the last quarter. Institutional investors and hedge funds own 85.99% of the company’s stock.
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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