Benefitfocus, Inc. (BNFT) Position Raised by Teachers Advisors LLC

Teachers Advisors LLC increased its position in shares of Benefitfocus, Inc. (NASDAQ:BNFT) by 33.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,676 shares of the software maker’s stock after purchasing an additional 7,139 shares during the quarter. Teachers Advisors LLC owned approximately 0.09% of Benefitfocus worth $1,042,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BNFT. Bank of New York Mellon Corp increased its position in shares of Benefitfocus by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 52,301 shares of the software maker’s stock worth $1,462,000 after purchasing an additional 632 shares in the last quarter. American International Group Inc. increased its position in shares of Benefitfocus by 7.1% during the 1st quarter. American International Group Inc. now owns 7,926 shares of the software maker’s stock worth $222,000 after purchasing an additional 523 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Benefitfocus by 93.8% during the 1st quarter. Alliancebernstein L.P. now owns 37,010 shares of the software maker’s stock worth $1,034,000 after purchasing an additional 17,910 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Benefitfocus by 11.4% during the 1st quarter. Geode Capital Management LLC now owns 121,929 shares of the software maker’s stock worth $3,407,000 after purchasing an additional 12,501 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Benefitfocus during the 1st quarter worth about $4,995,000. Institutional investors and hedge funds own 85.42% of the company’s stock.

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Benefitfocus (NASDAQ:BNFT) last issued its earnings results on Thursday, August 3rd. The software maker reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. The business had revenue of $63.30 million for the quarter, compared to analyst estimates of $62.07 million. During the same period in the previous year, the firm posted ($0.22) EPS. The firm’s revenue was up 9.3% compared to the same quarter last year.

A number of equities research analysts recently issued reports on BNFT shares. BidaskClub cut shares of Benefitfocus from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Raymond James Financial, Inc. increased their target price on shares of Benefitfocus from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Canaccord Genuity reiterated a “buy” rating and set a $35.00 target price on shares of Benefitfocus in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of Benefitfocus from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Chardan Capital cut shares of Benefitfocus from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $36.00 to $30.00 in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Benefitfocus presently has a consensus rating of “Buy” and an average target price of $39.67.

Benefitfocus Profile

Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits management platform for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company operates through two business segments: Employer, which derives its revenue from customers 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.

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Institutional Ownership by Quarter for Benefitfocus (NASDAQ:BNFT)

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