BroadSoft, Inc. (NASDAQ:BSFT)‘s stock had its “hold” rating reiterated by stock analysts at Northland Securities in a report released on Sunday. They currently have a $42.00 price objective on the software maker’s stock. Northland Securities’ target price indicates a potential downside of 23.22% from the company’s current price.

A number of other analysts also recently weighed in on BSFT. Raymond James Financial, Inc. downgraded shares of BroadSoft from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Cowen and Company downgraded shares of BroadSoft from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 7th. Zacks Investment Research downgraded shares of BroadSoft from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Dougherty & Co downgraded shares of BroadSoft from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 24th. Finally, Needham & Company LLC downgraded shares of BroadSoft from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. BroadSoft currently has a consensus rating of “Hold” and a consensus target price of $50.40.

BroadSoft (BSFT) traded up $0.15 on Friday, hitting $54.70. 1,342,429 shares of the stock were exchanged, compared to its average volume of 2,460,042. The stock has a market capitalization of $1,731.20, a price-to-earnings ratio of 156.29, a P/E/G ratio of 4.28 and a beta of 0.96. BroadSoft has a 12 month low of $33.85 and a 12 month high of $55.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.64 and a quick ratio of 2.64.

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In other BroadSoft news, insider Scott D. Hoffpauir sold 13,344 shares of BroadSoft stock in a transaction on Wednesday, August 30th. The shares were 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 $5,491,104. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Hoffpauir sold 4,448 shares of BroadSoft stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $52.89, for a total transaction of $235,254.72. Following the completion of the transaction, the insider now directly owns 94,656 shares of the company’s stock, valued at approximately $5,006,355.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,136 shares of company stock valued at $1,693,639. 1.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System boosted its holdings in BroadSoft by 4.5% in the third quarter. California Public Employees Retirement System now owns 58,094 shares of the software maker’s stock worth $2,922,000 after purchasing an additional 2,494 shares during the period. Pacific Grove Capital LP acquired a new position in shares of BroadSoft during the third quarter valued at $3,089,000. Legion Partners Asset Management LLC boosted its holdings in shares of BroadSoft by 166.0% during the third quarter. Legion Partners Asset Management LLC now owns 929,226 shares of the software maker’s stock valued at $46,740,000 after acquiring an additional 579,835 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of BroadSoft during the third quarter valued at $130,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of BroadSoft by 22.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 16,888 shares of the software maker’s stock valued at $849,000 after acquiring an additional 3,043 shares during the period.

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.

Analyst Recommendations for BroadSoft (NASDAQ:BSFT)

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