Charles Schwab Investment Management Inc. Purchases 10,266 Shares of Benefitfocus, Inc. (NASDAQ:BNFT)

Charles Schwab Investment Management Inc. grew its position in Benefitfocus, Inc. (NASDAQ:BNFT) by 5.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 195,984 shares of the software maker’s stock after buying an additional 10,266 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Benefitfocus were worth $2,764,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BNFT. Archon Capital Management LLC bought a new stake in shares of Benefitfocus in the 2nd quarter valued at about $32,436,000. Deutsche Bank AG boosted its stake in Benefitfocus by 185.9% in the 2nd quarter. Deutsche Bank AG now owns 748,319 shares of the software maker’s stock worth $10,551,000 after purchasing an additional 486,534 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Benefitfocus in the 2nd quarter worth approximately $3,909,000. Bank of Montreal Can boosted its stake in Benefitfocus by 10,317.8% in the 2nd quarter. Bank of Montreal Can now owns 82,301 shares of the software maker’s stock worth $1,204,000 after purchasing an additional 81,511 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Benefitfocus in the 2nd quarter worth approximately $1,027,000. Institutional investors and hedge funds own 85.58% of the company’s stock.

BNFT opened at $10.41 on Thursday. Benefitfocus, Inc. has a 12-month low of $10.06 and a 12-month high of $17.58. The firm has a market capitalization of $348.01 million, a PE ratio of -8.97 and a beta of 1.62. The firm has a 50 day moving average of $10.96 and a two-hundred day moving average of $12.35.

Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings results on Tuesday, November 2nd. The software maker reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. During the same quarter in the previous year, the business earned ($0.20) EPS. As a group, equities research analysts anticipate that Benefitfocus, Inc. will post -0.72 EPS for the current fiscal year.

Separately, Zacks Investment Research upgraded shares of Benefitfocus from a “sell” rating to a “hold” rating in a research note on Wednesday, November 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.33.

In other Benefitfocus news, CFO Alpana Wegner sold 2,354 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $12.01, for a total transaction of $28,271.54. Following the completion of the transaction, the chief financial officer now directly owns 100,727 shares of the company’s stock, valued at approximately $1,209,731.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 21.70% of the company’s stock.

Benefitfocus Profile

Benefitfocus, Inc engages in the provision of cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers. The company was founded by Mason R. Holland and Shawn A. Jenkins in June 2000 and is headquartered in Charleston, SC.

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Institutional Ownership by Quarter for Benefitfocus (NASDAQ:BNFT)

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