BroadSoft Inc. (NASDAQ:BSFT) saw strong trading volume on Friday . 962,639 shares traded hands during trading, an increase of 141% from the previous session’s volume of 398,690 shares.The stock last traded at $44.75 and had previously closed at $44.23.

A number of analysts have recently weighed in on the company. TheStreet lowered BroadSoft from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. William Blair reissued a “buy” rating on shares of BroadSoft in a research note on Monday, May 2nd. Zacks Investment Research lowered BroadSoft from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Jefferies Group reissued a “buy” rating on shares of BroadSoft in a research note on Tuesday, May 3rd. Finally, Dougherty & Co increased their price objective on BroadSoft from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, April 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $42.83.

The firm has a market capitalization of $1.31 billion and a P/E ratio of 830.19. The company has a 50 day moving average price of $43.27 and a 200 day moving average price of $38.79.

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

In other BroadSoft news, CFO James Albert Tholen sold 24,566 shares of BroadSoft stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $43.90, for a total value of $1,078,447.40. Following the sale, the chief financial officer now owns 54,094 shares of the company’s stock, valued at approximately $2,374,726.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Taher G. Behbehani sold 4,273 shares of BroadSoft stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $45.89, for a total value of $196,087.97. Following the completion of the sale, the insider now directly owns 62,574 shares in the company, valued at approximately $2,871,520.86. The disclosure for this sale can be found here.

A number of hedge funds have recently added to or reduced their stakes in BSFT. Rhumbline Advisers increased its stake in 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. Deere & Co. purchased a new stake in BroadSoft during the fourth quarter worth about $1,519,000. Redwood Investments LLC increased its stake in BroadSoft by 21.7% in the fourth quarter. Redwood Investments LLC now owns 67,746 shares of the company’s stock worth $2,395,000 after buying an additional 12,092 shares during the last quarter. Sabal Capital Management LLC purchased a new stake in BroadSoft during the fourth quarter worth about $3,308,000. Finally, New York State Common Retirement Fund increased its stake 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 worth $3,855,000 after buying an additional 2,953 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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