BidaskClub lowered shares of BroadSoft (NASDAQ:BSFT) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC downgraded shares of BroadSoft from a buy rating to a hold rating in a research note on Tuesday, October 24th. Zacks Investment Research downgraded shares of BroadSoft from a strong-buy rating to a hold rating in a research note on Tuesday, October 10th. William Blair restated an outperform rating on shares of BroadSoft in a research note on Thursday, October 5th. Cowen cut shares of BroadSoft from an outperform rating to a market perform rating in a research report on Tuesday, November 7th. Finally, Raymond James Financial cut shares of BroadSoft from an outperform rating to a market perform rating in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $50.40.

Shares of BroadSoft (BSFT) traded down $0.05 during mid-day trading on Wednesday, reaching $54.85. 451,356 shares of the company’s stock were exchanged, compared to its average volume of 815,542. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.64 and a quick ratio of 2.64. The company has a market cap of $1,742.91, a P/E ratio of -152.36, a P/E/G ratio of 3.54 and a beta of 0.93. BroadSoft has a twelve month low of $33.85 and a twelve month high of $55.05.

BroadSoft (NASDAQ:BSFT) last issued its earnings results on Monday, November 6th. The software maker reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.06. BroadSoft had a negative net margin of 2.86% and a positive return on equity of 3.78%. analysts expect that BroadSoft will post 0.8 earnings per share for the current fiscal year.

In other news, insider Scott D. Hoffpauir sold 4,448 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $54.57, for a total value of $242,727.36. Following the completion of the sale, the insider now owns 90,208 shares of the company’s stock, valued at approximately $4,922,650.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 13,344 shares of company stock valued at $721,110 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Legion Partners Asset Management LLC purchased a new stake in shares of BroadSoft in the 2nd quarter worth approximately $15,041,000. 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 valued at $109,060,000 after acquiring an additional 92,265 shares during the last quarter. New York State Common Retirement Fund lifted 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 acquiring an additional 2,399 shares during the last quarter. Legal & General Group Plc lifted its position in BroadSoft by 35.0% during the second quarter. Legal & General Group Plc now owns 9,506 shares of the software maker’s stock valued at $409,000 after acquiring an additional 2,465 shares during the last quarter. Finally, Dana Investment Advisors Inc. purchased a new stake in BroadSoft during the second quarter valued at approximately $2,626,000.

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About BroadSoft

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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