BroadSoft Inc. (BSFT) Sets New 12-Month High at $44.66
BroadSoft Inc. (NASDAQ:BSFT)’s share price reached a new 52-week high on Tuesday . The company traded as high as $44.66 and last traded at $44.25, with a volume of 115,803 shares changing hands. The stock had previously closed at $43.41.
A number of equities analysts have weighed in on BSFT shares. TheStreet raised shares of BroadSoft from a “hold” rating to a “buy” rating in a research report on Tuesday, March 29th. Zacks Investment Research cut shares of BroadSoft from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Jefferies Group reissued a “buy” rating on shares of BroadSoft in a research report on Wednesday, July 6th. William Blair reissued a “buy” rating on shares of BroadSoft in a research report on Wednesday, June 15th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $33.00 price objective on shares of BroadSoft in a research report on Thursday, April 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $42.83.
The firm has a market cap of $1.29 billion and a PE ratio of 816.30. The stock has a 50-day moving average price of $42.49 and a 200 day moving average price of $37.83.
BroadSoft (NASDAQ:BSFT) last announced its earnings results on Monday, May 2nd. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.26 by $0.11. The firm earned $73.10 million during the quarter, compared to the consensus estimate of $71.58 million. The business’s revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. Equities analysts expect that BroadSoft Inc. will post $2.03 EPS for the current fiscal year.
In related news, CEO Michael Tessler sold 9,718 shares of BroadSoft stock in a transaction on Monday, April 18th. The shares were sold at an average price of $40.21, for a total value of $390,760.78. Following the transaction, the chief executive officer now owns 201,897 shares in the company, valued at approximately $8,118,278.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Taher G. Behbehani sold 1,955 shares of BroadSoft stock in a transaction on Friday, May 6th. The stock was sold at an average price of $39.14, for a total transaction of $76,518.70. Following the completion of the transaction, the chief marketing officer now owns 64,474 shares in the company, valued at approximately $2,523,512.36. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of BSFT. Redwood Investments LLC increased its position in BroadSoft by 21.7% in the fourth quarter. Redwood Investments LLC now owns 67,746 shares of the company’s stock valued at $2,395,000 after buying an additional 12,092 shares during the last quarter. Deere & Co. bought a new position in BroadSoft during the fourth quarter valued at about $1,519,000. Sabal Capital Management LLC bought a new position in BroadSoft during the fourth quarter valued at about $3,308,000. Brown Advisory Inc. increased its position in BroadSoft by 2.8% in the fourth quarter. Brown Advisory Inc. now owns 1,222,156 shares of the company’s stock valued at $43,216,000 after buying an additional 33,386 shares during the last quarter. Finally, EAM Investors LLC increased its position in BroadSoft by 27.6% in the fourth quarter. EAM Investors LLC now owns 102,134 shares of the company’s stock valued at $3,611,000 after buying an additional 22,093 shares during the last quarter.
BroadSoft, Inc is a provider of software and services that enable telecommunications service providers to deliver hosted, cloud-based Unified Communications (UC) to their enterprise customers. The Company offers service providers two deployment options, software and software-as-a-service (SaaS), to enable them to offer UC services to their enterprise customers.
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