Benefitfocus (NASDAQ:BNFT) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Benefitfocus from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Tuesday, October 3rd. Berenberg Bank restated a “buy” rating and set a $36.00 price objective on shares of Benefitfocus in a research report on Thursday, August 10th. Piper Jaffray Companies restated a “buy” rating and set a $34.00 price objective on shares of Benefitfocus in a research report on Friday, November 3rd. William Blair cut Benefitfocus from an “outperform” rating to a “market perform” rating in a research report on Friday, November 3rd. Finally, Canaccord Genuity restated a “buy” rating and set a $34.00 price objective on shares of Benefitfocus in a research report on Monday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Benefitfocus currently has an average rating of “Hold” and an average price target of $35.38.

Benefitfocus (NASDAQ:BNFT) traded up $0.70 on Thursday, hitting $26.75. The stock had a trading volume of 156,171 shares, compared to its average volume of 202,747. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of -2.39. Benefitfocus has a 1-year low of $22.30 and a 1-year high of $37.10.

Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $62.45 million for the quarter, compared to the consensus estimate of $62.19 million. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. research analysts predict that Benefitfocus will post -0.81 earnings per share for the current year.

In related news, CEO Shawn A. Jenkins purchased 37,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average price of $25.27 per share, with a total value of $934,990.00. Following the purchase, the chief executive officer now directly owns 2,782,683 shares in the company, valued at $70,318,399.41. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 40.10% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in BNFT. FMR LLC boosted its stake in Benefitfocus by 70.0% in the 2nd 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. Discovery Group I LLC boosted its stake in Benefitfocus by 77.7% in the 3rd quarter. Discovery Group I LLC now owns 749,850 shares of the software maker’s stock valued at $25,232,000 after buying an additional 327,845 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in Benefitfocus in the 3rd quarter valued at $8,038,000. Oak Ridge Investments LLC boosted its stake in Benefitfocus by 199.2% in the 2nd 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, Vanguard Group Inc. boosted its stake in Benefitfocus by 11.7% in the 2nd 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. 85.75% of the stock is currently owned by institutional investors and hedge funds.

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About Benefitfocus

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.

Analyst Recommendations for Benefitfocus (NASDAQ:BNFT)

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