Benefitfocus (BNFT) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Benefitfocus (NASDAQ:BNFT) from a buy rating to a strong-buy rating in a report issued on Tuesday.

BNFT has been the topic of several other research reports. Wedbush lifted their price target on shares of Benefitfocus from $42.00 to $44.00 and gave the stock an outperform rating in a research report on Friday, November 2nd. ValuEngine upgraded shares of Benefitfocus from a hold rating to a buy rating in a research report on Monday, August 6th. Piper Jaffray Companies reiterated an overweight rating and set a $49.00 price objective on shares of Benefitfocus in a research report on Friday, November 2nd. Jefferies Financial Group reiterated a buy rating and set a $43.00 price objective on shares of Benefitfocus in a research report on Friday, July 20th. Finally, Guggenheim assumed coverage on shares of Benefitfocus in a research report on Monday, August 20th. They set a buy rating and a $45.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Benefitfocus has an average rating of Buy and a consensus target price of $40.45.

Benefitfocus stock traded up $1.03 during mid-day trading on Tuesday, hitting $44.17. The company’s stock had a trading volume of 13,886 shares, compared to its average volume of 284,659. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -55.91 and a beta of 1.16. Benefitfocus has a twelve month low of $21.75 and a twelve month high of $45.88.

Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings results on Thursday, November 1st. The software maker reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. The business had revenue of $61.00 million during the quarter, compared to analyst estimates of $59.91 million. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. Analysts predict that Benefitfocus will post -1.15 EPS for the current fiscal year.

In other Benefitfocus news, Director Francis J. Pelzer sold 750 shares of Benefitfocus stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $40.00, for a total transaction of $30,000.00. Following the completion of the sale, the director now owns 24,275 shares of the company’s stock, valued at approximately $971,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Francis J. Pelzer sold 5,000 shares of Benefitfocus stock in a transaction on Friday, August 24th. The shares were sold at an average price of $42.02, for a total transaction of $210,100.00. Following the sale, the director now directly owns 19,275 shares of the company’s stock, valued at approximately $809,935.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,250 shares of company stock worth $260,618. Corporate insiders own 29.00% of the company’s stock.

Large investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. boosted its stake in shares of Benefitfocus by 4.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 115,895 shares of the software maker’s stock valued at $3,895,000 after buying an additional 4,406 shares during the period. Voya Investment Management LLC acquired a new stake in shares of Benefitfocus during the 2nd quarter valued at $263,000. Millennium Management LLC boosted its stake in shares of Benefitfocus by 776.0% during the 2nd quarter. Millennium Management LLC now owns 735,496 shares of the software maker’s stock valued at $24,713,000 after buying an additional 651,532 shares during the period. Laurion Capital Management LP acquired a new stake in shares of Benefitfocus during the 2nd quarter valued at $2,242,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Benefitfocus by 4.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 78,992 shares of the software maker’s stock valued at $2,654,000 after buying an additional 3,648 shares during the period. 90.86% of the stock is owned by institutional investors.

Benefitfocus Company Profile

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. It operates through Employer and Carrier segments. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.

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Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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