Benefitfocus, Inc. (BNFT)

[ciciagt]

Benefitfocus becomes next hot cloud software IPO, soars 102% in market debut
9/18/13 Analyst IPO Blog

Benefitfocus, which provides a cloud-based platform for employee benefits management, soared nearly 102% in its market debut on Wednesday, sliding into third place for best first-day return in 2013, behind Sprouts Farmers Market (SFM) and Noodles & Company (NDLS). The company raised $131 million after pricing at $26.50, well above its original range of $21.50 to $24.50. Benefitfocus has also earned the title of best first-day gain for a technology company in 2013, and joins three other enterprise software IPOs (MKTO, DATA, and CVT) on 2013's list of top ten first-day performances.