Shares of Benefitfocus Inc (NASDAQ:BNFT) have been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $53.10.
A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Benefitfocus from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub downgraded Benefitfocus from a “sell” rating to a “strong sell” rating in a research note on Friday, May 10th. ValuEngine downgraded Benefitfocus from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Wells Fargo & Co lowered their target price on Benefitfocus from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $60.00 target price on shares of Benefitfocus in a research note on Wednesday, May 1st.
Shares of BNFT stock opened at $27.07 on Monday. Benefitfocus has a 1-year low of $26.63 and a 1-year high of $60.66. The firm has a market cap of $896.22 million, a PE ratio of -18.17 and a beta of 1.51.
In other Benefitfocus news, insider James P. Restivo sold 8,646 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $47.51, for a total value of $410,771.46. Following the completion of the sale, the insider now owns 65,660 shares of the company’s stock, valued at $3,119,506.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph P. Disabato sold 488,211 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $46.80, for a total value of $22,848,274.80. The disclosure for this sale can be found here. Insiders sold 504,401 shares of company stock valued at $23,617,030 in the last ninety days. Insiders own 29.00% of the company’s stock.
Several large investors have recently made changes to their positions in BNFT. Advisory Services Network LLC acquired a new position in shares of Benefitfocus during the 4th quarter worth about $27,000. Meeder Asset Management Inc. lifted its position in shares of Benefitfocus by 211.2% during the 1st quarter. Meeder Asset Management Inc. now owns 803 shares of the software maker’s stock worth $40,000 after purchasing an additional 545 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Benefitfocus by 52.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,255 shares of the software maker’s stock worth $57,000 after purchasing an additional 433 shares during the last quarter. Pier 88 Investment Partners LLC acquired a new position in Benefitfocus in the 4th quarter valued at approximately $69,000. Finally, Great West Life Assurance Co. Can raised its holdings in Benefitfocus by 81.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,493 shares of the software maker’s stock valued at $123,000 after acquiring an additional 1,121 shares in the last quarter. 98.59% of the stock is owned by institutional investors.
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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