Bamco Inc. NY cut its stake in shares of Benefitfocus Inc (NASDAQ:BNFT) by 0.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,245,435 shares of the software maker’s stock after selling 2,052 shares during the period. Bamco Inc. NY owned approximately 13.58% of Benefitfocus worth $142,859,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc raised its stake in Benefitfocus by 13.2% during the 2nd quarter. Legal & General Group Plc now owns 3,593 shares of the software maker’s stock valued at $130,000 after acquiring an additional 420 shares during the last quarter. Sei Investments Co. purchased a new stake in Benefitfocus during the 2nd quarter valued at approximately $133,000. Aperio Group LLC purchased a new stake in Benefitfocus during the 2nd quarter valued at approximately $222,000. ETRADE Capital Management LLC purchased a new stake in Benefitfocus during the 2nd quarter valued at approximately $227,000. Finally, Voya Investment Management LLC purchased a new stake in Benefitfocus during the 2nd quarter valued at approximately $245,000. 85.75% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on BNFT. Canaccord Genuity reaffirmed a “buy” rating and set a $34.00 price objective on shares of Benefitfocus in a research note on Monday, October 30th. Zacks Investment Research raised Benefitfocus from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, October 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $34.00 price objective on shares of Benefitfocus in a research note on Friday, November 3rd. William Blair downgraded Benefitfocus from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Finally, BidaskClub raised Benefitfocus from a “strong sell” rating to a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $35.38.
Benefitfocus (NASDAQ:BNFT) last issued its earnings results on Thursday, November 2nd. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The business had revenue of $62.45 million for the quarter, compared to analysts’ expectations of $62.19 million. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted ($0.14) earnings per share. equities research analysts predict that Benefitfocus Inc will post -0.81 earnings per share for the current fiscal year.
In other Benefitfocus news, CEO Shawn A. Jenkins bought 37,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $25.27 per share, with a total value of $934,990.00. Following the purchase, the chief executive officer now owns 2,782,683 shares in the company, valued at approximately $70,318,399.41. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 40.10% of the company’s stock.
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Benefitfocus Company Profile
Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits management platform for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company operates through two business segments: Employer, which derives its revenue from customers that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk.
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