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Wall Street analysts predict that Benefitfocus, Inc. (NASDAQ:BNFT – Get Rating) will post $60.69 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Benefitfocus’ earnings. The lowest sales estimate is $60.47 million and the highest is $61.09 million. Benefitfocus posted sales of $65.06 million during the same quarter last year, which suggests a negative year over year growth rate of 6.7%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Benefitfocus will report full-year sales of $255.22 million for the current financial year, with estimates ranging from $253.71 million to $256.44 million. For the next financial year, analysts forecast that the business will report sales of $265.63 million, with estimates ranging from $260.51 million to $269.27 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Benefitfocus.
Benefitfocus (NASDAQ:BNFT – Get Rating) last announced its earnings results on Tuesday, March 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.18. The business had revenue of $75.10 million for the quarter, compared to analysts’ expectations of $70.01 million. During the same quarter last year, the business earned $0.10 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis.
BNFT has been the topic of a number of research reports. StockNews.com initiated coverage on Benefitfocus in a report on Thursday, March 31st. They issued a “buy” rating on the stock. JPMorgan Chase & Co. decreased their price objective on Benefitfocus from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, March 2nd. Finally, Zacks Investment Research upgraded Benefitfocus from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Friday, March 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.00.
Shares of NASDAQ:BNFT traded down $0.31 during midday trading on Friday, reaching $12.12. 80,026 shares of the company’s stock traded hands, compared to its average volume of 151,699. The company has a fifty day simple moving average of $10.81 and a two-hundred day simple moving average of $10.80. The company has a market cap of $406.26 million, a P/E ratio of -10.45 and a beta of 1.66. Benefitfocus has a 1 year low of $9.25 and a 1 year high of $15.20.
In other Benefitfocus news, CFO Alpana Wegner sold 5,811 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $12.61, for a total value of $73,276.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Indaba Capital Management, L.P acquired 251,100 shares of the business’s stock in a transaction that occurred on Monday, March 21st. The shares were acquired at an average cost of $11.33 per share, with a total value of $2,844,963.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 393,600 shares of company stock valued at $4,637,313 and sold 8,214 shares valued at $103,198. 21.70% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of BNFT. Counterpoint Mutual Funds LLC acquired a new stake in shares of Benefitfocus during the 4th quarter worth about $27,000. Metropolitan Life Insurance Co NY increased its position in shares of Benefitfocus by 46,387.5% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 3,719 shares of the software maker’s stock worth $52,000 after purchasing an additional 3,711 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Benefitfocus by 179.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,619 shares of the software maker’s stock worth $85,000 after purchasing an additional 4,891 shares during the last quarter. Citigroup Inc. increased its position in shares of Benefitfocus by 96.5% during the 4th quarter. Citigroup Inc. now owns 8,695 shares of the software maker’s stock worth $93,000 after purchasing an additional 4,269 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Benefitfocus by 369.4% during the 4th quarter. MetLife Investment Management LLC now owns 8,909 shares of the software maker’s stock worth $95,000 after purchasing an additional 7,011 shares during the last quarter. 82.08% of the stock is owned by hedge funds and other institutional investors.
Benefitfocus Company Profile (Get Rating)
Benefitfocus, Inc provides cloud-based benefits management technology solutions for employers and health plans in the United States. Its products for employers comprise Benefitplace, a cloud-based benefits management portal that streamlines online enrollment, employee communication, and benefit administration; Health Insights, a data analytics solution; ACA Management and Reporting, a solution for employers to manage ACA compliance; Billing & Payments, an application that synchronizes enrollment and billing information to streamline the monthly billing process, automate adjustments, and enhance accuracy of payments; and COBRA Administration, a solution that simplifies management of Consolidated Omnibus Budget Reconciliation Act, benefits.
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