ETRADE Capital Management LLC bought a new stake in BroadSoft, Inc. (NASDAQ:BSFT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,394 shares of the software maker’s stock, valued at approximately $921,000. ETRADE Capital Management LLC owned about 0.07% of BroadSoft at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew 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 valued at $109,060,000 after buying an additional 92,265 shares during the period. Northern Trust Corp grew its position in BroadSoft by 4.6% during the second quarter. Northern Trust Corp now owns 395,697 shares of the software maker’s stock valued at $17,035,000 after buying an additional 17,409 shares during the period. New York State Common Retirement Fund grew its position in BroadSoft by 1.7% during the second quarter. New York State Common Retirement Fund now owns 144,410 shares of the software maker’s stock valued at $6,217,000 after buying an additional 2,399 shares during the period. Elk Creek Partners LLC grew its position in BroadSoft by 11.5% during the second quarter. Elk Creek Partners LLC now owns 328,085 shares of the software maker’s stock valued at $14,124,000 after buying an additional 33,798 shares during the period. Finally, RK Capital Management LLC grew its position in BroadSoft by 6.0% during the second quarter. RK Capital Management LLC now owns 176,060 shares of the software maker’s stock valued at $7,579,000 after buying an additional 10,000 shares during the period.

BroadSoft, Inc. (NASDAQ BSFT) opened at 49.75 on Monday. The company’s market cap is $1.54 billion. BroadSoft, Inc. has a 12 month low of $33.85 and a 12 month high of $52.15. The firm’s 50-day moving average is $46.26 and its 200-day moving average is $41.96.

BroadSoft (NASDAQ:BSFT) last issued 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. BroadSoft had a positive return on equity of 4.72% and a negative net margin of 2.34%. The business had revenue of $88.80 million during the quarter, compared to analyst estimates of $86.63 million. During the same quarter in the previous year, the firm earned $0.49 EPS. BroadSoft’s revenue was up 8.7% on a year-over-year basis. On average, analysts anticipate that BroadSoft, Inc. will post $2.27 EPS for the current fiscal year.

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Several equities analysts recently weighed in on the stock. Needham & Company LLC increased their price target on shares of BroadSoft from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. ValuEngine upgraded shares of BroadSoft from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. William Blair restated a “buy” rating on shares of BroadSoft in a research report on Wednesday, August 9th. Robert W. Baird increased their price target on shares of BroadSoft from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, August 8th. Finally, Cowen and Company restated a “buy” rating and set a $51.00 price target on shares of BroadSoft in a research report on Friday, July 28th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $48.38.

In other BroadSoft news, insider Scott D. Hoffpauir sold 13,344 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $48.00, for a total value of $640,512.00. Following the completion of the transaction, the insider now owns 114,398 shares of the company’s stock, valued at approximately $5,491,104. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Hoffpauir sold 8,896 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $50.00, for a total value of $444,800.00. Following the completion of the transaction, the insider now directly owns 105,502 shares of the company’s stock, valued at approximately $5,275,100. The disclosure for this sale can be found here. In the last three months, insiders sold 29,688 shares of company stock valued at $1,458,384. 1.50% of the stock is owned by insiders.

BroadSoft 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.

Institutional Ownership by Quarter for BroadSoft (NASDAQ:BSFT)

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