California Public Employees Retirement System maintained its stake in Benefitfocus, Inc. (NASDAQ:BNFT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,200 shares of the software maker’s stock at the end of the 2nd quarter. California Public Employees Retirement System owned approximately 0.09% of Benefitfocus worth $1,061,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC boosted its position in Benefitfocus by 70.0% in the second quarter. FMR LLC now owns 4,651,067 shares of the software maker’s stock valued at $169,066,000 after buying an additional 1,914,954 shares in the last quarter. Vanguard Group Inc. boosted its position in Benefitfocus by 11.7% in the second quarter. Vanguard Group Inc. now owns 1,238,539 shares of the software maker’s stock valued at $45,021,000 after buying an additional 129,829 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in Benefitfocus by 3.0% in the second quarter. Artisan Partners Limited Partnership now owns 968,092 shares of the software maker’s stock valued at $35,190,000 after buying an additional 28,491 shares in the last quarter. Oak Ridge Investments LLC boosted its position in Benefitfocus by 199.2% in the second quarter. Oak Ridge Investments LLC now owns 346,805 shares of the software maker’s stock valued at $12,606,000 after buying an additional 230,892 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Benefitfocus by 52.1% in the second quarter. Wells Fargo & Company MN now owns 346,253 shares of the software maker’s stock valued at $12,586,000 after buying an additional 118,664 shares in the last quarter. Hedge funds and other institutional investors own 84.17% of the company’s stock.

BNFT has been the topic of a number of research analyst reports. Canaccord Genuity restated a “buy” rating and issued a $35.00 target price on shares of Benefitfocus in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of Benefitfocus from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Berenberg Bank restated a “buy” rating and issued a $36.00 target price on shares of Benefitfocus in a research report on Thursday, August 10th. William Blair lowered shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a research report on Friday, November 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $34.00 target price on shares of Benefitfocus in a research report on Friday, November 3rd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Benefitfocus presently has a consensus rating of “Buy” and an average price target of $35.38.

Benefitfocus, Inc. (BNFT) opened at $25.85 on Friday. The company has a debt-to-equity ratio of -2.39, a quick ratio of 1.12 and a current ratio of 1.08. Benefitfocus, Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $37.10.

Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.06) 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 analyst estimates of $62.19 million. Benefitfocus’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.14) EPS. equities research analysts forecast that Benefitfocus, Inc. will post -0.81 earnings per share for the current year.

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In other Benefitfocus news, CEO Shawn A. Jenkins purchased 37,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were bought at an average price of $25.27 per share, for a total transaction of $934,990.00. Following the completion of the acquisition, the chief executive officer now owns 2,782,683 shares in the company, valued at $70,318,399.41. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 40.10% of the stock is currently owned by 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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Institutional Ownership by Quarter for Benefitfocus (NASDAQ:BNFT)

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