BroadSoft, Inc. (BSFT) Receives $48.38 Consensus PT from Analysts
BroadSoft, Inc. (NASDAQ:BSFT) has received an average rating of “Buy” from the eleven research firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $48.38.
A number of research firms have issued reports on BSFT. ValuEngine upgraded BroadSoft from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Needham & Company LLC raised their price objective on BroadSoft from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, September 6th. Robert W. Baird raised their price objective on BroadSoft from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. BidaskClub upgraded BroadSoft from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Finally, William Blair restated a “buy” rating on shares of BroadSoft in a report on Wednesday, August 9th.
In other BroadSoft news, insider Scott D. Hoffpauir sold 13,344 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total transaction of $640,512.00. Following the completion of the sale, the insider now directly owns 114,398 shares in the company, valued at $5,491,104. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John D. Jr. Markley sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $48.00, for a total transaction of $144,000.00. Following the sale, the director now owns 22,839 shares of the company’s stock, valued at $1,096,272. The disclosure for this sale can be found here. Insiders sold a total of 25,240 shares of company stock valued at $1,229,312 over the last quarter. 1.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in BroadSoft by 3.8% during the second quarter. Vanguard Group Inc. now owns 2,533,349 shares of the software maker’s stock worth $109,060,000 after acquiring an additional 92,265 shares during the last quarter. BlackRock Inc. lifted its position in BroadSoft by 86,871.0% during the first quarter. BlackRock Inc. now owns 2,208,194 shares of the software maker’s stock worth $88,770,000 after acquiring an additional 2,205,655 shares during the last quarter. Clearbridge Investments LLC lifted its position in BroadSoft by 45.2% during the first quarter. Clearbridge Investments LLC now owns 1,868,977 shares of the software maker’s stock worth $75,133,000 after acquiring an additional 581,922 shares during the last quarter. Southpoint Capital Advisors LP acquired a new stake in BroadSoft during the second quarter worth approximately $59,979,000. Finally, TimesSquare Capital Management LLC lifted its position in BroadSoft by 20.8% during the first quarter. TimesSquare Capital Management LLC now owns 914,297 shares of the software maker’s stock worth $36,755,000 after acquiring an additional 157,680 shares during the last quarter.
Shares of BroadSoft (NASDAQ:BSFT) traded up 1.08% on Wednesday, reaching $51.55. The company’s stock had a trading volume of 501,512 shares. The company has a 50 day moving average price of $45.85 and a 200 day moving average price of $41.85. The company’s market cap is $1.60 billion. BroadSoft has a 52-week low of $33.85 and a 52-week high of $51.60.
BroadSoft (NASDAQ:BSFT) last released its earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.53. The firm had revenue of $88.80 million during the quarter, compared to analysts’ expectations of $86.63 million. BroadSoft had a positive return on equity of 4.72% and a negative net margin of 2.34%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. On average, analysts anticipate that BroadSoft will post $2.27 earnings per share for the current fiscal year.
BroadSoft Company Profile
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.
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.