Benefitfocus, Inc. (NASDAQ:BNFT) Given Consensus Recommendation of “Hold” by Brokerages

Benefitfocus, Inc. (NASDAQ:BNFTGet Rating) has been assigned an average rating of “Hold” from the six ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $13.00.

Several equities research analysts have recently commented on BNFT shares. JPMorgan Chase & Co. reduced their target price on shares of Benefitfocus from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 2nd. Zacks Investment Research upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Friday, March 4th. Finally, StockNews.com started coverage on shares of Benefitfocus in a research report on Thursday, March 31st. They set a “buy” rating on the stock.

Shares of Benefitfocus stock opened at $11.47 on Monday. Benefitfocus has a 52-week low of $9.25 and a 52-week high of $15.20. The company’s fifty day moving average price is $11.14 and its two-hundred day moving average price is $10.86. The firm has a market capitalization of $384.44 million, a PE ratio of -9.89 and a beta of 1.66.

Benefitfocus (NASDAQ:BNFTGet Rating) last issued its earnings results on Tuesday, March 1st. The software maker reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.18. The firm had revenue of $75.10 million during the quarter, compared to analyst estimates of $70.01 million. During the same quarter in the prior year, the firm posted $0.10 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts forecast that Benefitfocus will post -0.28 EPS for the current year.

In other Benefitfocus news, CFO Alpana Wegner sold 2,375 shares of the company’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $12.47, for a total transaction of $29,616.25. Following the transaction, the chief financial officer now directly owns 229,568 shares in the company, valued at approximately $2,862,712.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Indaba Capital Management, L.P bought 251,100 shares of the business’s stock in a transaction on Monday, March 21st. The shares were acquired at an average price of $11.33 per share, for a total transaction of $2,844,963.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 393,600 shares of company stock worth $4,637,313 and have sold 8,214 shares worth $103,198. 21.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC bought a new stake in shares of Benefitfocus in the 4th quarter valued at about $27,000. Metropolitan Life Insurance Co NY increased its stake in shares of Benefitfocus by 80.7% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 6,722 shares of the software maker’s stock valued at $75,000 after acquiring an additional 3,003 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Benefitfocus by 179.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,619 shares of the software maker’s stock valued at $85,000 after acquiring an additional 4,891 shares during the last quarter. Citigroup Inc. increased its stake in shares of Benefitfocus by 96.5% in the 4th quarter. Citigroup Inc. now owns 8,695 shares of the software maker’s stock valued at $93,000 after acquiring an additional 4,269 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Benefitfocus by 369.4% in the 4th quarter. MetLife Investment Management LLC now owns 8,909 shares of the software maker’s stock valued at $95,000 after acquiring an additional 7,011 shares during the last quarter. Institutional investors own 82.08% of the company’s stock.

Benefitfocus Company Profile (Get Rating)

Benefitfocus, Inc provides cloud-based benefits management technology solutions for employers and health plans in the United States. Its products for employers comprise Benefitplace, a cloud-based benefits management portal that streamlines online enrollment, employee communication, and benefit administration; Health Insights, a data analytics solution; ACA Management and Reporting, a solution for employers to manage ACA compliance; Billing & Payments, an application that synchronizes enrollment and billing information to streamline the monthly billing process, automate adjustments, and enhance accuracy of payments; and COBRA Administration, a solution that simplifies management of Consolidated Omnibus Budget Reconciliation Act, benefits.

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