Benefitfocus (NASDAQ:BNFT) Receives New Coverage from Analysts at KeyCorp

KeyCorp assumed coverage on shares of Benefitfocus (NASDAQ:BNFTGet Rating) in a research note issued to investors on Thursday morning, The Fly reports. The brokerage issued an overweight rating on the software maker’s stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler cut their target price on Benefitfocus from $9.00 to $6.00 in a research note on Tuesday, September 6th. downgraded Benefitfocus from a buy rating to a hold rating in a report on Thursday, September 1st. Finally, William Blair reaffirmed a market perform rating on shares of Benefitfocus in a report on Thursday, August 4th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Benefitfocus presently has an average rating of Hold and a consensus target price of $8.50.

Benefitfocus Trading Down 1.3 %

NASDAQ BNFT opened at $6.62 on Thursday. Benefitfocus has a 12 month low of $6.24 and a 12 month high of $13.06. The stock has a market cap of $226.65 million, a P/E ratio of -6.19 and a beta of 1.64. The stock’s fifty day moving average price is $7.57 and its 200-day moving average price is $9.18.

Benefitfocus (NASDAQ:BNFTGet Rating) last released its earnings results on Wednesday, August 3rd. The software maker reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The firm had revenue of $56.59 million during the quarter, compared to analysts’ expectations of $56.37 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. As a group, analysts forecast that Benefitfocus will post -0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. HighMark Wealth Management LLC bought a new position in Benefitfocus in the second quarter valued at about $28,000. Amalgamated Bank bought a new position in Benefitfocus in the first quarter valued at about $48,000. SG Americas Securities LLC lifted its holdings in Benefitfocus by 32.2% in the second quarter. SG Americas Securities LLC now owns 20,736 shares of the software maker’s stock valued at $161,000 after acquiring an additional 5,048 shares during the period. MetLife Investment Management LLC lifted its holdings in Benefitfocus by 55.4% in the first quarter. MetLife Investment Management LLC now owns 13,846 shares of the software maker’s stock valued at $175,000 after acquiring an additional 4,937 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in Benefitfocus in the first quarter valued at about $185,000. 83.41% of the stock is owned by institutional investors.

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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