Northern Trust Corp boosted its stake in shares of Benefitfocus, Inc. (NASDAQ:BNFT) by 7.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 172,941 shares of the software maker’s stock after acquiring an additional 11,493 shares during the quarter. Northern Trust Corp owned about 0.56% of Benefitfocus worth $6,286,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Wells Fargo & Company MN lifted its holdings in shares of Benefitfocus by 52.1% in the 2nd 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 during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Benefitfocus by 12.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 68,598 shares of the software maker’s stock valued at $2,494,000 after buying an additional 7,402 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of Benefitfocus in the 2nd quarter valued at approximately $1,109,000. Oak Ridge Investments LLC raised its holdings in Benefitfocus by 199.2% during the second quarter. Oak Ridge Investments LLC now owns 346,805 shares of the software maker’s stock worth $12,606,000 after purchasing an additional 230,892 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in Benefitfocus during the second quarter worth $2,477,000. 83.54% of the stock is owned by institutional investors.
In other Benefitfocus news, CEO Shawn A. Jenkins purchased 37,000 shares of the business’s 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 owns 2,782,683 shares in the company, valued at approximately $70,318,399.41. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 40.10% of the company’s stock.
Several equities analysts recently issued reports on the company. Zacks Investment Research raised Benefitfocus from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Piper Jaffray Companies reissued a “buy” rating and set a $34.00 price target on shares of Benefitfocus in a research report on Friday, November 3rd. William Blair downgraded Benefitfocus from an “outperform” rating to a “market perform” rating in a research report on Friday, November 3rd. Canaccord Genuity reissued a “buy” rating and set a $34.00 price target on shares of Benefitfocus in a research report on Monday, October 30th. Finally, Berenberg Bank reissued a “buy” rating and set a $36.00 price target on shares of Benefitfocus in a research report on Thursday, August 10th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $35.38.
Benefitfocus, Inc. (NASDAQ:BNFT) opened at $25.50 on Wednesday. Benefitfocus, Inc. has a fifty-two week low of $22.30 and a fifty-two week high of $37.10. The company has a debt-to-equity ratio of -2.39, a current ratio of 1.08 and a quick ratio of 1.08.
Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings data on Thursday, November 2nd. The software maker reported ($0.06) EPS for the quarter, topping 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. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.14) EPS. analysts anticipate that Benefitfocus, Inc. will post -0.81 EPS for the current year.
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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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