BroadSoft Inc. (NASDAQ:BSFT) shares saw strong trading volume on Friday . 237,534 shares traded hands during mid-day trading, a decline of 15% from the previous session’s volume of 279,254 shares.The stock last traded at $44.52 and had previously closed at $44.02.

Several research analysts have issued reports on the stock. Jefferies Group restated a “buy” rating on shares of BroadSoft in a research report on Wednesday, July 6th. Zacks Investment Research lowered shares of BroadSoft from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. William Blair restated a “buy” rating on shares of BroadSoft in a research report on Wednesday, June 15th. TheStreet upgraded shares of BroadSoft from a “hold” rating to a “buy” rating in a research report on Tuesday, March 29th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $33.00 price target 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 assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $42.83.

The company has a market capitalization of $1.31 billion and a P/E ratio of 829.44. The stock’s 50 day moving average price is $42.59 and its 200 day moving average price is $37.98.

BroadSoft (NASDAQ:BSFT) last announced its earnings results on Monday, May 2nd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.11. The company had revenue of $73.10 million for the quarter, compared to analyst estimates of $71.58 million. BroadSoft’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. On average, equities research analysts expect that BroadSoft Inc. will post $2.03 earnings per share for the current fiscal year.

In other news, CMO Taher G. Behbehani sold 2,382 shares of the company’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $40.43, for a total transaction of $96,304.26. Following the transaction, the chief marketing officer now directly owns 68,811 shares in the company, valued at $2,782,028.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Taher G. Behbehani sold 1,955 shares of the company’s stock in a transaction that occurred 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 transaction, the chief marketing officer now owns 64,474 shares in the company, valued at $2,523,512.36. The disclosure for this sale can be found here.

Several institutional investors recently made changes to their positions in BSFT. Rhumbline Advisers raised its position in shares of BroadSoft by 8.7% in the fourth quarter. Rhumbline Advisers now owns 30,503 shares of the company’s stock worth $1,079,000 after buying an additional 2,435 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of BroadSoft by 2.8% in the fourth quarter. New York State Common Retirement Fund now owns 109,020 shares of the company’s stock valued at $3,855,000 after buying an additional 2,953 shares in the last quarter. Redwood Investments LLC raised its position in shares of 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 in the last quarter. Brown Advisory Inc. raised its position in shares of 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 in the last quarter. Finally, Deere & Co. acquired a new position in shares of BroadSoft during the fourth quarter valued at $1,519,000.

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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