BroadSoft, Inc. (BSFT) Stock Rating Upgraded by ValuEngine
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.
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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.
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.
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