BroadSoft Inc. (NASDAQ:BSFT) shares fell 4.8% during mid-day trading on Thursday . The stock traded as low as $44.61 and last traded at $44.63, with a volume of 541,795 shares. The stock had previously closed at $46.87.

A number of analysts have recently commented on BSFT shares. Jefferies Group reiterated a “buy” rating on shares of BroadSoft in a research note on Wednesday, July 6th. William Blair reiterated a “buy” rating on shares of BroadSoft in a research note on Wednesday, June 15th. Zacks Investment Research lowered shares of BroadSoft from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. TheStreet lowered shares of BroadSoft from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Finally, Dougherty & Co lifted their price target on shares of BroadSoft from $45.00 to $47.00 and gave the stock 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 given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $42.83.

The firm has a market capitalization of $1.31 billion and a P/E ratio of 830.19. The stock’s 50 day moving average is $43.27 and its 200 day moving average is $38.79.

BroadSoft (NASDAQ:BSFT) last issued its earnings results on Monday, May 2nd. The company reported $0.37 earnings per share (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 the consensus estimate of $71.58 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The firm’s revenue was up 31.2% on a year-over-year basis. Equities research analysts predict 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 the stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $43.90, for a total transaction of $1,078,447.40. Following the completion of the sale, the chief financial officer now directly owns 54,094 shares of the company’s stock, valued at $2,374,726.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Taher G. Behbehani sold 1,955 shares of the stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $39.14, for a total transaction of $76,518.70. Following the sale, the chief marketing officer now directly owns 64,474 shares of the company’s stock, valued at $2,523,512.36. The disclosure for this sale can be found here.

Other hedge funds have recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP raised its stake in BroadSoft by 2.7% in the fourth quarter. Westfield Capital Management Co. LP now owns 808,769 shares of the company’s stock valued at $28,598,000 after buying an additional 21,250 shares during the last quarter. Redwood Investments LLC raised its stake 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. purchased a new stake in BroadSoft during the fourth quarter valued at approximately $1,519,000. Sabal Capital Management LLC purchased a new stake in BroadSoft during the fourth quarter valued at approximately $3,308,000. Finally, New York State Common Retirement Fund raised 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 valued at $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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