BroadSoft Inc. (NASDAQ:BSFT) hit a new 52-week high during trading on Monday . The stock traded as high as $45.78 and last traded at $45.37, with a volume of 221,704 shares trading hands. The stock had previously closed at $44.79.

A number of research analysts recently commented on BSFT shares. TheStreet lowered shares of BroadSoft from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. William Blair reiterated a “buy” rating on shares of BroadSoft in a research note on Monday, May 2nd. Zacks Investment Research lowered shares of BroadSoft from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Jefferies Group reiterated a “buy” rating on shares of BroadSoft in a research note on Tuesday, May 3rd. Finally, Dougherty & Co raised their price objective on shares of BroadSoft from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, April 29th. 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’s stock. BroadSoft presently has a consensus rating of “Buy” and a consensus price target of $42.83.

The firm has a market capitalization of $1.34 billion and a PE ratio of 845.37. The firm has a 50 day moving average price of $42.59 and a 200 day moving average price of $37.98.

BroadSoft (NASDAQ:BSFT) last issued its quarterly earnings data on Monday, May 2nd. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.11. The business had revenue of $73.10 million for the quarter, compared to analysts’ expectations of $71.58 million. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities analysts predict that BroadSoft Inc. will post $2.03 EPS for the current fiscal year.

In other BroadSoft news, CMO Taher G. Behbehani sold 2,382 shares of the company’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $40.43, for a total value of $96,304.26. Following the completion of the sale, the chief marketing officer now owns 68,811 shares of the company’s stock, valued at $2,782,028.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Dennis Dourgarian sold 4,843 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $42.53, for a total value of $205,972.79. Following the completion of the sale, the chief accounting officer now directly owns 35,081 shares of the company’s stock, valued at approximately $1,491,994.93. The disclosure for this sale can be found here.

Other hedge funds have recently modified their holdings of the company. Rhumbline Advisers raised its stake in shares of BroadSoft by 8.7% in the fourth quarter. Rhumbline Advisers now owns 30,503 shares of the company’s stock valued at $1,079,000 after buying an additional 2,435 shares in the last quarter. Deere & Co. purchased a new stake in shares of BroadSoft during the fourth quarter valued at about $1,519,000. Redwood Investments LLC raised its stake 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. Sabal Capital Management LLC purchased a new stake in shares of BroadSoft during the fourth quarter valued at about $3,308,000. Finally, New York State Common Retirement Fund raised its stake 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.

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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