Schwab Charles Investment Management Inc. raised its position in Benefitfocus Inc (NASDAQ:BNFT) by 10.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,845 shares of the software maker’s stock after purchasing an additional 7,247 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Benefitfocus were worth $2,553,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. FMR LLC increased its stake in shares of 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 purchasing an additional 1,914,954 shares during the period. Bamco Inc. NY increased its stake in shares of Benefitfocus by 0.6% in the second quarter. Bamco Inc. NY now owns 4,247,487 shares of the software maker’s stock valued at $154,396,000 after purchasing an additional 24,954 shares during the period. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 129,829 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of 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 purchasing an additional 28,491 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in shares of Benefitfocus by 3.5% in the third quarter. Peregrine Capital Management LLC now owns 640,470 shares of the software maker’s stock valued at $21,552,000 after purchasing an additional 21,778 shares during the period. Institutional investors own 85.61% of the company’s stock.
In related news, CEO Shawn A. Jenkins acquired 37,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average price of $25.27 per share, for a total transaction of $934,990.00. Following the completion of the purchase, the chief executive officer now directly owns 2,782,683 shares of the company’s stock, valued at $70,318,399.41. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 40.10% of the stock is owned by company insiders.
Benefitfocus Inc (BNFT) opened at $25.15 on Thursday. Benefitfocus Inc has a 12 month low of $22.30 and a 12 month high of $37.10. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of -2.39. The company has a market cap of $788.09, a P/E ratio of -29.94 and a beta of 1.12.
Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.08. The company had revenue of $62.45 million for the quarter, compared to analyst estimates of $62.19 million. During the same quarter in the prior year, the business earned ($0.14) EPS. Benefitfocus’s revenue was up 7.6% compared to the same quarter last year. research analysts expect that Benefitfocus Inc will post -0.81 EPS for the current fiscal year.
Several brokerages have commented on BNFT. Zacks Investment Research lowered shares of Benefitfocus from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Canaccord Genuity restated a “buy” rating and issued a $34.00 price target on shares of Benefitfocus in a research note on Monday, October 30th. BidaskClub upgraded shares of Benefitfocus from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 7th. William Blair lowered shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a research note on Friday, November 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $34.00 price target on shares of Benefitfocus in a research note on Friday, November 3rd. 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 company. Benefitfocus presently has a consensus rating of “Hold” and a consensus target price of $34.38.
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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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