Westpac Banking Corp cut its position in shares of Benefitfocus, Inc. (NASDAQ:BNFT) by 0.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,724 shares of the software maker’s stock after selling 23 shares during the period. Westpac Banking Corp’s holdings in Benefitfocus were worth $328,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of BNFT. Peregrine Capital Management LLC boosted its stake in Benefitfocus by 6.3% in the first quarter. Peregrine Capital Management LLC now owns 690,130 shares of the software maker’s stock worth $19,082,000 after buying an additional 40,692 shares during the period. Macquarie Group Ltd. boosted its stake in Benefitfocus by 21.0% in the fourth quarter. Macquarie Group Ltd. now owns 56,923 shares of the software maker’s stock worth $1,691,000 after buying an additional 9,879 shares during the period. Teachers Advisors LLC boosted its stake in Benefitfocus by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 21,537 shares of the software maker’s stock worth $640,000 after buying an additional 1,087 shares during the period. Ellington Management Group LLC boosted its stake in Benefitfocus by 20.7% in the fourth quarter. Ellington Management Group LLC now owns 9,900 shares of the software maker’s stock worth $294,000 after buying an additional 1,700 shares during the period. Finally, Intellectus Partners LLC acquired a new stake in Benefitfocus during the fourth quarter worth $220,000. Institutional investors own 84.25% of the company’s stock.
Benefitfocus, Inc. (NASDAQ BNFT) traded down 1.22% on Wednesday, reaching $36.40. 23,701 shares of the company’s stock traded hands. The firm’s market capitalization is $1.13 billion. Benefitfocus, Inc. has a 52-week low of $24.55 and a 52-week high of $44.98. The firm’s 50 day moving average price is $32.33 and its 200 day moving average price is $29.60.
Benefitfocus (NASDAQ:BNFT) last announced its earnings results on Thursday, April 27th. The software maker reported ($0.25) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.02. The company had revenue of $64.10 million for the quarter, compared to analyst estimates of $62.94 million. During the same quarter in the previous year, the company posted ($0.29) earnings per share. Benefitfocus’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, analysts predict that Benefitfocus, Inc. will post ($0.32) EPS for the current fiscal year.
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A number of equities research analysts have recently weighed in on BNFT shares. Canaccord Genuity reaffirmed a “buy” rating and set a $35.00 price target on shares of Benefitfocus in a report on Wednesday, February 22nd. Zacks Investment Research cut Benefitfocus from a “hold” rating to a “sell” rating in a report on Thursday, February 23rd. Jefferies Group LLC dropped their target price on Benefitfocus from $41.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, February 24th. Royal Bank Of Canada reissued a “hold” rating and set a $33.00 target price on shares of Benefitfocus in a report on Friday, February 24th. Finally, Chardan Capital reissued a “buy” rating and set a $31.00 target price on shares of Benefitfocus in a report on Wednesday, March 15th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Benefitfocus currently has an average rating of “Buy” and an average price target of $39.88.
In related news, insider James P. Restivo sold 2,193 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $27.28, for a total value of $59,825.04. Following the transaction, the insider now directly owns 51,401 shares in the company, valued at $1,402,219.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 40.10% of the stock is currently owned by corporate insiders.
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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