BroadSoft Inc. (BSFT) Trading Up 2.5%
BroadSoft Inc. (NASDAQ:BSFT) was up 2.5% during trading on Tuesday . The company traded as high as $46.24 and last traded at $45.99, with a volume of 267,556 shares changing hands. The stock had previously closed at $44.86.
A number of equities research analysts recently commented on BSFT shares. Zacks Investment Research lowered shares of BroadSoft from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. William Blair reiterated a “buy” rating on shares of BroadSoft in a report on Monday, May 2nd. Jefferies Group reiterated a “buy” rating on shares of BroadSoft in a report on Tuesday, May 3rd. TheStreet lowered shares of BroadSoft from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Finally, Dougherty & Co upped their price target on shares of BroadSoft from $47.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $45.00.
The firm has a market cap of $1.38 billion and a PE ratio of 340.22. The firm has a 50 day moving average price of $44.09 and a 200-day moving average price of $40.50.
BroadSoft (NASDAQ:BSFT) last posted its earnings results on Monday, August 1st. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. During the same period last year, the business posted $0.32 earnings per share. The business earned $81.70 million during the quarter, compared to analysts’ expectations of $78.99 million. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, analysts anticipate that BroadSoft Inc. will post $2.06 earnings per share for the current fiscal year.
In related news, CFO James Albert Tholen sold 24,566 shares of the firm’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $43.90, for a total value of $1,078,447.40. Following the completion of the transaction, 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 available at the SEC website. Also, insider Taher G. Behbehani sold 4,273 shares of the firm’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $45.89, for a total transaction of $196,087.97. Following the completion of the transaction, the insider now directly owns 62,574 shares of the company’s stock, valued at $2,871,520.86. The disclosure for this sale can be found here.
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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