Peregrine Capital Management LLC cut its stake in Benefitfocus Inc (NASDAQ:BNFT) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 391,740 shares of the software maker’s stock after selling 13,020 shares during the period. Peregrine Capital Management LLC owned about 1.22% of Benefitfocus worth $4,215,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. UBS Group AG boosted its holdings in Benefitfocus by 194.3% in the fourth quarter. UBS Group AG now owns 2,434 shares of the software maker’s stock valued at $53,000 after purchasing an additional 1,607 shares during the period. Victory Capital Management Inc. lifted its holdings in Benefitfocus by 47.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,333 shares of the software maker’s stock worth $95,000 after buying an additional 1,404 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Benefitfocus by 3,733.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 5,750 shares of the software maker’s stock worth $51,000 after buying an additional 5,600 shares during the last quarter. Jane Street Group LLC purchased a new stake in Benefitfocus during the 4th quarter worth about $208,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Benefitfocus by 148.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,816 shares of the software maker’s stock worth $87,000 after buying an additional 5,866 shares during the last quarter. Hedge funds and other institutional investors own 88.33% of the company’s stock.
BNFT has been the subject of a number of recent analyst reports. Goldman Sachs Group lifted their price target on Benefitfocus from $11.00 to $12.00 in a report on Monday, June 29th. BidaskClub raised Benefitfocus from a “strong sell” rating to a “sell” rating in a report on Saturday. Wells Fargo & Co decreased their price target on Benefitfocus from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Piper Sandler decreased their price target on Benefitfocus from $35.00 to $26.00 in a report on Thursday, May 7th. Finally, ValuEngine upgraded Benefitfocus from a “hold” rating to a “buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. Benefitfocus currently has a consensus rating of “Buy” and a consensus target price of $26.40.
Shares of BNFT opened at $11.71 on Friday. The stock has a fifty day moving average of $10.89 and a two-hundred day moving average of $12.43. The company has a market capitalization of $375.97 million, a PE ratio of -9.01 and a beta of 1.63. Benefitfocus Inc has a fifty-two week low of $6.09 and a fifty-two week high of $28.25.
Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.05. The firm had revenue of $66.15 million for the quarter, compared to analyst estimates of $65.96 million. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.21) earnings per share. As a group, research analysts anticipate that Benefitfocus Inc will post -1.03 earnings per share for the current year.
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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