BroadSoft, Inc. (NASDAQ:BSFT) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of BroadSoft from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of BroadSoft in a research report on Monday, June 26th. Cowen and Company reaffirmed a “buy” rating and issued a $51.00 target price on shares of BroadSoft in a research report on Friday, July 28th. William Blair reaffirmed a “buy” rating on shares of BroadSoft in a research report on Wednesday, August 9th. Finally, Barclays PLC initiated coverage on shares of BroadSoft in a research report on Friday, July 7th. They issued an “equal weight” rating and a $45.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $47.00.

BroadSoft (NASDAQ BSFT) traded up 0.40% on Friday, hitting $49.75. 435,856 shares of the company’s stock were exchanged. BroadSoft has a 52-week low of $33.85 and a 52-week high of $50.30. The firm has a 50 day moving average price of $44.03 and a 200-day moving average price of $41.45. The stock’s market cap is $1.54 billion.

BroadSoft (NASDAQ:BSFT) last released its earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.53. The firm had revenue of $88.80 million for the quarter, compared to the consensus estimate of $86.63 million. BroadSoft had a negative net margin of 2.34% and a positive return on equity of 4.72%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. Analysts predict that BroadSoft will post $2.26 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “BroadSoft, Inc. (BSFT) Stock Rating Upgraded by ValuEngine” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/09/03/broadsoft-inc-bsft-stock-rating-upgraded-by-valuengine.html.

In related news, Director John D. Jr. Markley sold 3,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total transaction of $144,000.00. Following the sale, the director now directly owns 22,839 shares of the company’s stock, valued at approximately $1,096,272. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Hoffpauir sold 13,344 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total transaction of $640,512.00. Following the sale, the insider now directly owns 114,398 shares in the company, valued at $5,491,104. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of BSFT. OLD National Bancorp IN bought a new position in BroadSoft during the 2nd quarter valued at about $382,000. Renaissance Group LLC lifted its stake in BroadSoft by 16.9% during the 2nd quarter. Renaissance Group LLC now owns 8,285 shares of the software maker’s stock valued at $357,000 after acquiring an additional 1,196 shares during the period. Swiss National Bank lifted its stake in BroadSoft by 3.1% during the 1st quarter. Swiss National Bank now owns 49,700 shares of the software maker’s stock valued at $1,998,000 after acquiring an additional 1,500 shares during the period. AMI Asset Management Corp lifted its stake in BroadSoft by 20.2% during the 2nd quarter. AMI Asset Management Corp now owns 342,658 shares of the software maker’s stock valued at $14,751,000 after acquiring an additional 57,486 shares during the period. Finally, Cadence Capital Management LLC lifted its stake in BroadSoft by 6.1% during the 1st quarter. Cadence Capital Management LLC now owns 28,236 shares of the software maker’s stock valued at $1,135,000 after acquiring an additional 1,625 shares during the period.

About BroadSoft

BroadSoft, Inc is a global provider of software and services that enable telecommunications service providers to deliver hosted, cloud-based Unified Communications (UC) to their enterprise customers. The BroadSoft Business solution is a communications and collaboration offering that enables telecommunications service providers to offer businesses and other enterprises UC features and functionalities on a cloud-delivered basis without the need for traditional premise-based private branch exchange (PBX) equipment.

Analyst Recommendations for BroadSoft (NASDAQ:BSFT)

Receive News & Stock Ratings for BroadSoft Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BroadSoft Inc. and related stocks with our FREE daily email newsletter.