Benefitfocus Inc (NASDAQ:BNFT) Director Francis J. Pelzer sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $42.02, for a total value of $210,100.00. Following the completion of the sale, the director now directly owns 19,275 shares in the company, valued at $809,935.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

BNFT stock opened at $42.90 on Friday. The company has a debt-to-equity ratio of -3.49, a current ratio of 0.98 and a quick ratio of 0.98. Benefitfocus Inc has a fifty-two week low of $21.75 and a fifty-two week high of $44.22. The company has a market capitalization of $1.36 billion, a P/E ratio of -54.30 and a beta of 0.85.

Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Thursday, August 2nd. The software maker reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.16. The company had revenue of $60.60 million during the quarter, compared to the consensus estimate of $56.93 million. During the same quarter last year, the firm earned ($0.05) EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. sell-side analysts forecast that Benefitfocus Inc will post -1.22 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank grew its holdings in Benefitfocus by 6.3% during the 1st quarter. Swiss National Bank now owns 27,200 shares of the software maker’s stock worth $664,000 after acquiring an additional 1,600 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in Benefitfocus by 59.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 6,581 shares of the software maker’s stock worth $221,000 after acquiring an additional 2,453 shares during the period. Macquarie Group Ltd. grew its holdings in Benefitfocus by 4.8% during the 2nd quarter. Macquarie Group Ltd. now owns 54,479 shares of the software maker’s stock worth $1,830,000 after acquiring an additional 2,505 shares during the period. Gagnon Securities LLC grew its holdings in Benefitfocus by 20.7% during the 1st quarter. Gagnon Securities LLC now owns 16,457 shares of the software maker’s stock worth $402,000 after acquiring an additional 2,818 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in Benefitfocus by 16.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 20,252 shares of the software maker’s stock worth $680,000 after acquiring an additional 2,870 shares during the period. 93.58% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on BNFT. Raymond James lifted their target price on Benefitfocus from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, August 24th. BidaskClub upgraded shares of Benefitfocus from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 23rd. Guggenheim began coverage on shares of Benefitfocus in a research note on Monday, August 20th. They issued a “buy” rating and a $45.00 target price for the company. ValuEngine upgraded shares of Benefitfocus from a “hold” rating to a “buy” rating in a research note on Monday, August 6th. Finally, Chardan Capital lifted their target price on shares of Benefitfocus from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, August 3rd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $37.90.

About Benefitfocus

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. It operates through Employer and Carrier segments. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.

See Also: How Important is Technical Analysis of Stocks

Receive News & Ratings for Benefitfocus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Benefitfocus and related companies with MarketBeat.com's FREE daily email newsletter.