The stock of Benefitfocus Inc (NASDAQ:BNFT) is a huge mover today! About 1.27 million shares traded hands or 581.81% up from the average. Benefitfocus Inc (NASDAQ:BNFT) has declined 14.46% since April 4, 2016 and is downtrending. It has underperformed by 15.55% the S&P500.
The move comes after 9 months negative chart setup for the $740.06 million company. It was reported on Nov, 4 by Barchart.com. We have $24.94 PT which if reached, will make NASDAQ:BNFT worth $37.00 million less.
Benefitfocus Inc (NASDAQ:BNFT) Ratings Coverage
Out of 8 analysts covering Benefitfocus (NASDAQ:BNFT), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. Benefitfocus has been the topic of 12 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The stock of Benefitfocus Inc (NASDAQ:BNFT) earned “Buy” rating by Jefferies on Wednesday, February 24. As per Tuesday, July 28, the company rating was maintained by RBC Capital Markets. Jefferies maintained it with “Buy” rating and $50 target price in Friday, August 12 report. The stock of Benefitfocus Inc (NASDAQ:BNFT) earned “Outperform” rating by Raymond James on Friday, November 4. As per Thursday, March 10, the company rating was maintained by Canaccord Genuity. William Blair downgraded the stock to “Market Perform” rating in Friday, May 6 report. RBC Capital Markets maintained the shares of BNFT in a report on Wednesday, October 21 with “Sector Perform” rating. On Thursday, August 4 the stock rating was maintained by Jefferies with “Buy”. The firm has “Buy” rating given on Tuesday, August 4 by Canaccord Genuity. The company was upgraded on Thursday, September 3 by Zacks.
According to Zacks Investment Research, “Benefitfocus, Inc. offers cloud-based software solutions to consumers, employers, insurance carriers and brokers. The Company’s platform of products and services enable customers to efficiently shop, enroll, manage and exchange benefits information. Benefitfocus, Inc. is based in Charleston, South Carolina.”
Insitutional Activity: The institutional sentiment increased to 1.31 in Q2 2016. Its up 0.33, from 0.98 in 2016Q1. The ratio improved, as 10 funds sold all Benefitfocus Inc shares owned while 25 reduced positions. 12 funds bought stakes while 34 increased positions. They now own 21.22 million shares or 0.26% less from 21.28 million shares in 2016Q1.
The Massachusetts-based Rhumbline Advisers has invested 0% in Benefitfocus Inc (NASDAQ:BNFT). Moreover, Artisan Partnership has 0.09% invested in Benefitfocus Inc (NASDAQ:BNFT) for 1.06M shares. Neuberger Berman Group Limited Company accumulated 15,000 shares or 0% of the stock. Manufacturers Life Insur The holds 9,298 shares or 0% of its portfolio. Cubist Systematic Strategies Limited Liability accumulated 800 shares or 0% of the stock. Blackrock Fund holds 304,235 shares or 0% of its portfolio. Next Century Growth Ltd Liability Com accumulated 0.2% or 114,050 shares. New York State Common Retirement Fund accumulated 0.01% or 179,521 shares. Deutsche Natl Bank Ag has 94,314 shares for 0% of their US portfolio. American International Gp last reported 7,412 shares in the company. California Public Employees Retirement Sys has invested 0% of its portfolio in Benefitfocus Inc (NASDAQ:BNFT). Raymond James & Assocs reported 37,416 shares or 0% of all its holdings. Jacobs Levy Equity Inc, a New Jersey-based fund reported 28,145 shares. Federated Invsts Pa accumulated 0% or 1,482 shares. Geode Cap Ltd Liability Company accumulated 99,571 shares or 0% of the stock.
Insider Transactions: Since August 11, 2016, the stock had 0 insider purchases, and 4 insider sales for $9.33 million net activity. Holland Mason R Jr also sold $6.16M worth of Benefitfocus Inc (NASDAQ:BNFT) shares. August Raymond Alexander had sold 16,408 shares worth $650,741. Jenkins Shawn A had sold 10,000 shares worth $420,300 on Monday, October 10.
More recent Benefitfocus Inc (NASDAQ:BNFT) news were published by: Businesswire.com which released: “Benefitfocus Invests In Greenville’s Growing Technology Base With Office Expansion” on August 25, 2015. Also Businesswire.com published the news titled: “Benefitfocus Expands Sales and Marketing Leadership Team” on October 15, 2015. Seekingalpha.com‘s news article titled: “Benefits In Focus: >50% Downside For Benefitfocus Shareholders” with publication date: October 19, 2016 was also an interesting one.
BNFT Company Profile
Benefitfocus, Inc. (Benefitfocus), incorporated on March 12, 2013, is a well-known provider of cloud benefits software solutions for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Firm operates through two business divisions: Employer, which derives its revenue from clients 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. The Company’s solutions support benefits plans, including healthcare, dental, life and disability insurance, and voluntary benefits plans, such as critical illness, supplemental income and wellness programs. It provides a multi-tenant cloud benefits management platform to the employer and carrier markets.
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