Benefitfocus downgraded by KeyBanc Capital Markets
$BNFT
Computer Software: Prepackaged Software
Technology
KeyBanc Capital Markets downgraded Benefitfocus from Overweight to Sector Weight
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/8/2022 | Overweight → Sector Weight | KeyBanc Capital Markets | |
| 9/16/2022 | $10.00 | Overweight | KeyBanc Capital Markets |
| 6/23/2022 | $16.00 → $9.00 | Overweight → Neutral | Piper Sandler |
| 3/2/2022 | $13.00 → $11.00 | Neutral | JP Morgan |
CHARLESTON, S.C., Jan. 24, 2023 (GLOBE NEWSWIRE) -- Reference is made to the Indenture, dated as of December 27, 2018 (the "Indenture"), between Benefitfocus, Inc., a Delaware corporation ("Benefitfocus") and U.S. Bank Trust Company, National Association, a national banking association, as Trustee (the "Trustee"), relating to Benefitfocus' 1.25% Convertible Senior Notes due 2023 (the "Notes"). Approximately $6.8 million in Notes remain outstanding. Capitalized terms used but not defined herein shall have the respective meanings given to them in the Indenture. As previously announced, on November 1, 2022, Benefitfocus entered into an Agreement and Plan of Merger with Voya Financial, Inc.
CHARLESTON, S.C., Jan. 20, 2023 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ:BNFT) announced that at a special meeting today, Benefitfocus's stockholders approved the previously announced merger agreement related to the proposed acquisition of Benefitfocus by Voya Financial, Inc. Subject to the terms and conditions of the merger agreement, at the effective time of the merger, each share of Benefitfocus common stock will be cancelled and converted into the right to receive $10.50 in cash. The transaction remains subject to certain closing conditions and is expected to close on January 24, 2023. About Benefitfocus Benefitfocus is a cloud-based benefits administration technology company c
CHARLESTON, S.C., Dec. 19, 2022 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ: BNFT), a cloud-based benefits administration technology company committed to helping organizations and the people they serve get the most out of their health care and benefit programs, today announced that its ACA compliance solution will be sold as an SAP Solution Extension under the name SAP U.S. Benefits Administration by Benefitfocus, reporting option for the Affordable Care Act (ACA). The ACA compliance solution proactively manages the IRS employer mandate, from aggregating and analyzing customer data from various sources and proactively alerting customers to any issues, to filing ACA reports with the IRS
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CHARLESTON, S.C., Aug. 09, 2022 (GLOBE NEWSWIRE) -- Benefitfocus Inc. (NASDAQ:BNFT) ("Benefitfocus" or the "Company"), a cloud-based benefits administration technology company committed to helping customers and the people they serve get the most out of their health care and benefit programs, today announced that, in connection with the appointment of Ed Rumzis as executive vice president and chief technology officer, and in accordance with the terms of his employment agreement with the Company, the Compensation and Talent Committee of Benefitfocus' Board of Directors approved an initial equity grant to Mr. Rumzis of 187,664 restricted stock units ("RSUs") with a value of $1,500,000 (the "I
CHARLESTON, S.C., April 22, 2022 /PRNewswire/ -- Today, Benefitfocus, Inc. (NASDAQ: BNFT), a cloud-based benefits administration company committed to helping organizations and their people get the most out of their health care and benefits programs, announced Kristin Adams as Executive Vice President and Chief People Officer (CPO). Effective immediately, Adams will lead the company's people strategy with a focus on talent acquisition, development and retention; corporate culture; diversity, inclusion and belonging; employee compensation and benefits and organizational structure.
CHARLESTON, S.C., April 04, 2022 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ:BNFT) ("Benefitfocus" or the "Company"), today announced that it has entered into a cooperation agreement with Indaba Capital Management, L.P. ("Indaba"), which owns approximately 11.8% of the Company's outstanding shares, making it one of the Company's largest common stockholders. Under the terms of the agreement, Benefitfocus has appointed Alexander Lerner, Investment Partner at Indaba, to the Board of Directors, effective immediately, and agreed to include Mr. Lerner on its recommended slate of nominees for election at the Company's 2022 Annual Meeting of Stockholders. Mr. Lerner will serve as Co-Chair of e
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Keybanc analyst Scott Schoenhaus downgrades Benefitfocus (NASDAQ:BNFT) from Overweight to Sector Weight.
CHARLESTON, S.C., Nov. 07, 2022 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ:BNFT), an industry-leading cloud-based benefits administration technology company that serves employers, health plans and brokers, today announced its third quarter 2022 financial results: Financial Highlights for the Third Quarter 2022: Revenue of $56.2 million was within the guidance range of $55 million to $57 million.Adjusted EBITDA of $5.7 million was at the high end of the guidance range of $4 million to $6 million.GAAP net loss available to common stockholders was ($8.6) million, compared to ($19.7) million in the third quarter of 2021.GAAP EPS was ($0.25) in the third quarter of 2022 and non-GAAP EP
CHARLESTON, S.C., Nov. 01, 2022 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ:BNFT), an industry-leading cloud-based benefits administration technology company that simplifies benefits administration for employers, health plans and brokers, today announced the cancellation of its earnings conference call for the quarter ended September 30, 2022, that had originally been scheduled for November 7, 2022, at 5:00 p.m. ET. The call is being cancelled due to the announcement of the pending transaction with Voya Financial, Inc. About BenefitfocusBenefitfocus (NASDAQ:BNFT) is a cloud-based benefits administration technology company committed to helping our customers, and the people they serve, g
Voya Financial, Inc. (NYSE:VOYA) announced today financial results for the third quarter of 2022: Net income available to common shareholders of $1.82 per diluted share. After-tax adjusted operating earnings1 of $2.30 per diluted share2. Voya is on track to achieve 12% to 17% adjusted operating earnings per share (EPS) growth, excluding notable items, in 2022, which reflects continued progress on the company's organic growth, margin expansion and capital management initiatives. "In the third quarter, we delivered an approximately 28% increase in adjusted operating EPS, excluding notable items, as we achieved strong organic growth despite headwinds in the macro environment," said Rod
KeyBanc Capital Markets downgraded Benefitfocus from Overweight to Sector Weight
KeyBanc Capital Markets initiated coverage of Benefitfocus with a rating of Overweight and set a new price target of $10.00
Piper Sandler downgraded Benefitfocus from Overweight to Neutral and set a new price target of $9.00 from $16.00 previously