Insider Selling: Benefitfocus Inc (BNFT) Director Sells 250 Shares of Stock

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Benefitfocus Inc (NASDAQ:BNFT) Director Francis J. Pelzer sold 250 shares of Benefitfocus stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $46.25, for a total transaction of $11,562.50. Following the transaction, the director now directly owns 15,895 shares of the company’s stock, valued at $735,143.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Benefitfocus stock traded up $0.06 during trading hours on Tuesday, hitting $47.30. The stock had a trading volume of 1,048,954 shares, compared to its average volume of 526,182. The stock has a market capitalization of $1.48 billion, a PE ratio of -31.74 and a beta of 1.43. Benefitfocus Inc has a 12-month low of $22.75 and a 12-month high of $60.66.

Benefitfocus (NASDAQ:BNFT) last issued its earnings results on Tuesday, February 26th. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. The firm had revenue of $74.80 million during the quarter, compared to analysts’ expectations of $73.03 million. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted ($0.06) earnings per share. On average, research analysts forecast that Benefitfocus Inc will post -1.05 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in shares of Benefitfocus in the fourth quarter worth approximately $27,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Benefitfocus by 52.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,255 shares of the software maker’s stock worth $57,000 after acquiring an additional 433 shares during the period. Pier 88 Investment Partners LLC bought a new stake in shares of Benefitfocus in the fourth quarter worth approximately $69,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Benefitfocus in the third quarter worth approximately $185,000. Finally, Ibex Investors LLC bought a new stake in shares of Benefitfocus in the third quarter worth approximately $206,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

A number of research analysts recently issued reports on BNFT shares. Zacks Investment Research cut shares of Benefitfocus from a “buy” rating to a “hold” rating in a research report on Thursday, January 10th. Piper Jaffray Companies reaffirmed a “positive” rating and issued a $61.00 target price on shares of Benefitfocus in a report on Tuesday, December 11th. Wedbush reaffirmed a “buy” rating and issued a $57.00 target price on shares of Benefitfocus in a report on Wednesday, December 19th. Royal Bank of Canada lifted their target price on shares of Benefitfocus to $58.00 and gave the stock an “average” rating in a report on Wednesday, December 19th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and issued a $55.00 target price on shares of Benefitfocus in a report on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Benefitfocus currently has an average rating of “Buy” and an average target price of $52.73.

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Benefitfocus Company Profile

Benefitfocus, Inc provides cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers in the United States. It operates through Employer and Carrier segments. The company's products for insurance carriers include Marketplaces, which are online shopping environments; eEnrollment that provides online enrollment for benefits; eBilling, an electronic invoice presentment and payment solution; eExchange, a solution for communication; eSales for carriers and brokers to organize and manage accounts, track leads, generate quotes, and create proposals for products; and Core & Advanced Analytics, a data analytics solution.

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