Benefitfocus Inc (NASDAQ:BNFT) has received a consensus recommendation of “Buy” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $44.00.
BNFT has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on Benefitfocus in a report on Wednesday, July 3rd. They issued a “neutral” rating and a $32.00 target price on the stock. Zacks Investment Research raised Benefitfocus from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Thursday, July 25th. Wells Fargo & Co reissued a “buy” rating on shares of Benefitfocus in a report on Wednesday, August 7th. BidaskClub raised Benefitfocus from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $46.00 target price on shares of Benefitfocus in a report on Thursday, August 8th.
NASDAQ BNFT traded down $0.01 on Friday, reaching $26.42. The stock had a trading volume of 5,773 shares, compared to its average volume of 411,169. Benefitfocus has a 12-month low of $22.82 and a 12-month high of $60.66. The business’s 50-day moving average price is $25.90 and its 200 day moving average price is $36.58. The stock has a market cap of $850.12 million, a P/E ratio of -17.76 and a beta of 1.30.
In related news, CFO Lou Anne Gilmore sold 1,019 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $26.89, for a total transaction of $27,400.91. Following the transaction, the chief financial officer now owns 34,133 shares of the company’s stock, valued at $917,836.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 29.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. grew its holdings in Benefitfocus by 211.2% in the first quarter. Meeder Asset Management Inc. now owns 803 shares of the software maker’s stock valued at $40,000 after purchasing an additional 545 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in Benefitfocus in the second quarter valued at $41,000. FinTrust Capital Advisors LLC acquired a new stake in Benefitfocus in the second quarter valued at $43,000. Bank of Montreal Can grew its holdings in Benefitfocus by 153.7% in the second quarter. Bank of Montreal Can now owns 4,049 shares of the software maker’s stock valued at $109,000 after purchasing an additional 2,453 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in Benefitfocus by 9.4% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,650 shares of the software maker’s stock valued at $126,000 after purchasing an additional 400 shares during the last quarter.
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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