First Trust Advisors LP purchased a new position in shares of BroadSoft, Inc. (NASDAQ:BSFT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 26,499 shares of the software maker’s stock, valued at approximately $1,333,000. First Trust Advisors LP owned 0.09% of BroadSoft as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BSFT. Teachers Advisors LLC increased its position in BroadSoft by 1.2% during the first quarter. Teachers Advisors LLC now owns 49,286 shares of the software maker’s stock worth $1,981,000 after buying an additional 581 shares during the period. Dimensional Fund Advisors LP increased its position in BroadSoft by 198.6% during the first quarter. Dimensional Fund Advisors LP now owns 31,316 shares of the software maker’s stock worth $1,259,000 after buying an additional 20,829 shares during the period. BlackRock Inc. increased 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 buying an additional 2,205,655 shares during the period. State Street Corp increased its position in BroadSoft by 1.5% during the first quarter. State Street Corp now owns 541,859 shares of the software maker’s stock worth $21,784,000 after buying an additional 7,842 shares during the period. Finally, US Bancorp DE increased its position in BroadSoft by 9.6% during the second quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock worth $284,000 after buying an additional 579 shares during the period.

In other news, insider Scott D. Hoffpauir sold 4,448 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $54.57, for a total value of $242,727.36. Following the completion of the transaction, the insider now directly owns 90,208 shares of the company’s stock, valued at $4,922,650.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 13,344 shares of company stock valued at $707,054. Insiders own 1.50% of the company’s stock.

Several research analysts have weighed in on the company. Needham & Company LLC lifted their target price on BroadSoft from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Dougherty & Co downgraded BroadSoft from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. William Blair restated a “buy” rating on shares of BroadSoft in a research note on Wednesday, August 9th. Zacks Investment Research upgraded BroadSoft from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Wednesday, October 25th. Finally, Cowen downgraded BroadSoft from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 7th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. BroadSoft currently has a consensus rating of “Hold” and an average target price of $50.40.

BroadSoft, Inc. (NASDAQ BSFT) opened at $54.80 on Friday. BroadSoft, Inc. has a 1-year low of $33.85 and a 1-year high of $55.05. The stock has a market capitalization of $1,740.72, a price-to-earnings ratio of 157.14, a P/E/G ratio of 4.30 and a beta of 0.92. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.41.

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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.

Institutional Ownership by Quarter for BroadSoft (NASDAQ:BSFT)

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