BNFT - Benefitfocus nears lows after not winning South Carolina contract

Benefitfocus (BNFT) falls 1.4% after the state of South Carolina didn't awarded the company a contract that was considered a "large" opportunity for BNFT, according to a Raymond James note.South Carolina awarded the contract to Morneau Shepell, a HR and services provider based in Canada, according to Raymond James analyst Brian PetersonThe contract loss doesn't change Raymond James estimates, though it "does take a potential opportunity off the board."Recall Jan. 21, Benefitfocus downgraded on revenue outlook; stock falls.

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Benefitfocus nears lows after not winning South Carolina contract