Benefitfocus (NASDAQ:BNFT) stock observed trading -58.01% off 52-week high price. On the other end, the stock has been noted 2.95% away from low price over the last 52-weeks. The stock disclosed a move of -11.49% away from 50 day moving average and -38.43% away from 200 day moving average. Moving closer, we can see that shares have been trading -3.56% off 20-day moving average. It has market cap of $798.99M .
Benefitfocus (NASDAQ:BNFT), a leading cloud-based benefits management platform and services provider, reported the appointment of Stephen M. Swad as Chief Financial Officer (CFO). Swad, who will be joining the Company on July 22nd, brings with him an extensive background with more than 35 years of executive and finance leadership. He is a current member of the Benefitfocus Board of Directors and since 2013 has served on the Audit, Compensation, and Nominating and Governance Committees, as well as Chair of the Compensation Committee.
While already deeply familiar with Benefitfocus, in his new role, Swad will be responsible for managing all aspects of Benefitfocus’ finances and corporate development. He joins the company from Vox Media, a leading, modern media company, where he has served as CFO since January 2016. During his time at Vox Media, he helped the company raise debt and equity capital, acquire companies, improve its capital allocation processes, launch a number of new successful businesses, including a SaaS-based technology business and enhance the accounting, finance, and treasury functions through investments in people, processes, and systems.
Ray August, President and CEO of Benefitfocus said “As Benefitfocus continues to advance our platform and industry leadership, it was imperative that we selected an established finance chief with a deep understanding of our transformative platform strategy,”. “Steve is right for this role in so many ways, from his well-established understanding of our business, serving as a board member since our IPO six years ago, to the depth of his public company financial expertise, serving other leading technology brands and public sector entities, like the SEC.”
Prior to Vox Media, from February 2012 until April 2015, Swad was President, Chief Executive Officer (CEO) and a director of Rosetta Stone, a cloud-based software company focused on language learning and reading. He formerly served as Rosetta Stone’s CFO beginning in November 2010. Prior to joining Rosetta Stone, Swad was the Executive Vice President and CFO of Comverse Technology
Swad has held various senior financial management positions at AOL (now part of Oath Inc.), Turner Broadcasting and Time Warner. He was a partner at KPMG LLP and also served as the Deputy Chief Accountant of the Securities and Exchange Commission. Swad previously served on the Board of Eloqua, a SaaS-based marketing and analytics platform, before it was purchased by Oracle. He received his B.A. in business administration from the University of Michigan and is a Certified Public Accountant.
Swad adds “Under Ray’s leadership, I have seen an incredible advancement of the company as it continues to accelerate the next generation of its market-leading benefits platform,”. “This was the right time to make this move. I am truly excited to transition my affiliation with Benefitfocus from being a long-standing director to a full-time operating finance chief and continuing to deliver on the value we provide to investors and our entire, connected ecosystem.” The USA based company Benefitfocus moved with change of -2.67% to $25.47 with the total traded volume of 409764 shares in recent session versus to an average volume of 506.32K. The stock was observed in the 5 days activity at -1.20%. The one month performance of stock was -2.04%. BNFT’s shares are at -39.62% for the quarter and driving a -26.17% return over the course of the past year and is now at -44.29% since this point in 2018. Right now the stock beta is 1.33. The average volatility for the week and month was at 3.89% and 4.48% respectively. There are 31.37M shares outstanding and 25.85M shares are floated in market.
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