BroadSoft Inc. (BSFT) Sets New 1-Year High at $45.78
BroadSoft Inc. (NASDAQ:BSFT) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $45.78 and last traded at $45.37, with a volume of 221,704 shares changing hands. The stock had previously closed at $44.79.
A number of research firms have weighed in on BSFT. Jefferies Group reissued a “buy” rating on shares of BroadSoft in a research report on Wednesday, July 6th. Zacks Investment Research downgraded shares of BroadSoft from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. William Blair reissued a “buy” rating on shares of BroadSoft in a research report on Wednesday, June 15th. TheStreet raised shares of BroadSoft from a “hold” rating to a “buy” rating in a research report on Tuesday, March 29th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $33.00 target price 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 stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.83.
The stock has a market cap of $1.34 billion and a P/E ratio of 848.70. The stock has a 50-day moving average price of $42.74 and a 200 day moving average price of $38.14.
BroadSoft (NASDAQ:BSFT) last released its earnings results on Monday, May 2nd. The company reported $0.37 earnings per share for the quarter, topping the Zacks’ 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. During the same quarter in the previous year, the firm earned $0.24 EPS. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, equities analysts predict that BroadSoft Inc. will post $2.03 earnings per share for the current year.
In other BroadSoft news, CAO Dennis Dourgarian sold 4,843 shares of the business’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 owns 35,081 shares in the company, valued at $1,491,994.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Taher G. Behbehani sold 1,955 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $39.14, for a total value of $76,518.70. Following the completion of the sale, the chief marketing officer now owns 64,474 shares of the company’s stock, valued at approximately $2,523,512.36. The disclosure for this sale can be found here.
Other hedge funds recently made changes to their positions in the company. Rhumbline Advisers increased 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 during the last quarter. New York State Common Retirement Fund boosted its position in 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 during the period. Sabal Capital Management LLC acquired a new position in BroadSoft during the fourth quarter valued at about $3,308,000. Deere & Co. acquired a new position in BroadSoft during the fourth quarter valued at about $1,519,000. Finally, Redwood Investments LLC boosted 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 period.
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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