Frontier Capital Management Co. LLC Grows Position in Benefitfocus Inc (BNFT)

Frontier Capital Management Co. LLC boosted its position in shares of Benefitfocus Inc (NASDAQ:BNFT) by 41.9% in the first quarter, Holdings Channel reports. The firm owned 1,637,000 shares of the software maker’s stock after purchasing an additional 483,700 shares during the period. Frontier Capital Management Co. LLC owned about 0.05% of Benefitfocus worth $81,064,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Benefitfocus by 52.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,255 shares of the software maker’s stock valued at $57,000 after purchasing an additional 433 shares during the last quarter. Raymond James Trust N.A. boosted its position in Benefitfocus by 4.3% during the first quarter. Raymond James Trust N.A. now owns 12,079 shares of the software maker’s stock valued at $598,000 after purchasing an additional 500 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Benefitfocus by 211.2% in the first quarter. Meeder Asset Management Inc. now owns 803 shares of the software maker’s stock worth $40,000 after buying an additional 545 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Benefitfocus in the fourth quarter worth about $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Benefitfocus by 19.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,760 shares of the software maker’s stock worth $236,000 after buying an additional 766 shares during the last quarter. 87.49% of the stock is owned by hedge funds and other institutional investors.

Benefitfocus stock opened at $32.86 on Friday. The stock has a market capitalization of $1.02 billion, a PE ratio of -22.05 and a beta of 1.30. Benefitfocus Inc has a 52 week low of $29.60 and a 52 week high of $60.66.

Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings results on Wednesday, May 1st. The software maker reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $68.30 million during the quarter, compared to analysts’ expectations of $67.77 million. During the same quarter last year, the company earned ($0.26) EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, research analysts predict that Benefitfocus Inc will post -1.6 EPS for the current fiscal year.

A number of brokerages have weighed in on BNFT. BidaskClub cut Benefitfocus from a “sell” rating to a “strong sell” rating in a research report on Friday, May 10th. Zacks Investment Research raised Benefitfocus from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. ValuEngine cut Benefitfocus from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Co reduced their price target on Benefitfocus from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $53.73.

In related news, Director Francis J. Pelzer sold 1,630 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $60.04, for a total transaction of $97,865.20. Following the transaction, the director now directly owns 16,145 shares in the company, valued at $969,345.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 3,254,735 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $46.80, for a total value of $152,321,598.00. The disclosure for this sale can be found here. Insiders have sold 3,761,016 shares of company stock worth $176,051,313 over the last 90 days. Corporate insiders own 29.00% of the company’s stock.

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Benefitfocus Profile

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, suppliers, and brokers in the United States. The company operates through Employer and Carrier segments. Its products for insurance carriers include BenefitsPlace, a transaction-oriented, marketplace solution; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution that bridges the integration gap between carrier and employer systems; eSales for carriers and brokers tools to organize and manage accounts, track leads, generate quotes, and create proposals for various products; and Core & Advanced Analytics, a data analytics solution.

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Institutional Ownership by Quarter for Benefitfocus (NASDAQ:BNFT)

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