Benefitfocus Inc. (NASDAQ:BNFT) has received a consensus rating of “Buy” from the ten brokerages that are covering the stock. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $48.38.

A number of research analysts have weighed in on the company. RBC Capital Markets reaffirmed a “sector perform” rating and set a $46.00 target price (up previously from $36.00) on shares of Benefitfocus in a report on Monday, August 1st. Canaccord Genuity reiterated a “buy” rating and set a $48.00 price target on shares of Benefitfocus in a research report on Friday, August 5th. Royal Bank Of Canada lifted their price target on Benefitfocus from $36.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, August 1st. Jefferies Group lifted their price target on Benefitfocus from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, Deutsche Bank AG lifted their price target on Benefitfocus from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 4th.

In other Benefitfocus news, COO Raymond Alexander August sold 16,408 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $39.66, for a total value of $650,741.28. Following the completion of the sale, the chief operating officer now owns 198,102 shares in the company, valued at $7,856,725.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mason R. Holland, Jr. sold 145,915 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $42.18, for a total value of $6,154,694.70. Following the completion of the sale, the insider now owns 22,537 shares of the company’s stock, valued at approximately $950,610.66. The disclosure for this sale can be found here. 45.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in BNFT. Societe Generale bought a new stake in shares of Benefitfocus during the second quarter valued at $111,000. SG Americas Securities LLC bought a new stake in shares of Benefitfocus during the second quarter valued at $111,000. Fortaleza Asset Management Inc. bought a new stake in shares of Benefitfocus during the second quarter valued at $122,000. BlackRock Advisors LLC increased its stake in shares of Benefitfocus by 48.2% in the second quarter. BlackRock Advisors LLC now owns 6,233 shares of the company’s stock valued at $238,000 after buying an additional 2,026 shares during the last quarter. Finally, Quantitative Investment Management LLC increased its stake in shares of Benefitfocus by 3.1% in the second quarter. Quantitative Investment Management LLC now owns 6,600 shares of the company’s stock valued at $251,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 78.96% of the company’s stock.

Benefitfocus (NASDAQ:BNFT) opened at 41.80 on Thursday. Benefitfocus has a 52 week low of $21.04 and a 52 week high of $44.98. The company’s market cap is $1.24 billion. The firm has a 50-day moving average of $40.22 and a 200-day moving average of $38.44.

Benefitfocus (NASDAQ:BNFT) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.15. The company had revenue of $57.90 million for the quarter, compared to analysts’ expectations of $56.42 million. The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.53) EPS. Equities analysts forecast that Benefitfocus will post ($0.95) earnings per share for the current year.

About Benefitfocus

Benefitfocus, Inc (Benefitfocus) provides cloud-based benefits software solutions for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. It 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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