BroadSoft Inc. (BSFT) Trading Up 2.5%
BroadSoft Inc. (NASDAQ:BSFT) shares were up 2.5% during mid-day trading on Tuesday . The stock traded as high as $46.24 and last traded at $45.99, with a volume of 267,556 shares traded. The stock had previously closed at $44.86.
Several research analysts have issued reports on BSFT shares. Zacks Investment Research lowered shares of BroadSoft from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. William Blair restated a “buy” rating on shares of BroadSoft in a report on Tuesday, May 31st. Jefferies Group restated a “buy” rating on shares of BroadSoft in a report on Wednesday, July 6th. Dougherty & Co raised their price target on shares of BroadSoft from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Finally, Raymond James Financial Inc. raised their price target on shares of BroadSoft from $45.00 to $51.00 and gave the stock a “strong-buy” rating in a report on Tuesday, August 2nd. One 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 company. BroadSoft currently has a consensus rating of “Buy” and a consensus price target of $45.00.
The company has a market capitalization of $1.36 billion and a P/E ratio of 336.10. The firm’s 50 day moving average is $44.21 and its 200-day moving average is $40.67.
BroadSoft (NASDAQ:BSFT) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.13. The company earned $81.70 million during the quarter, compared to the consensus estimate of $78.99 million. During the same quarter last year, the company posted $0.32 earnings per share. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. Equities research analysts expect that BroadSoft Inc. will post $2.06 earnings per share for the current fiscal year.
In related news, CAO Dennis Dourgarian sold 4,843 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $42.53, for a total value of $205,972.79. Following the transaction, the chief accounting officer now directly owns 35,081 shares in the company, valued at $1,491,994.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Taher G. Behbehani sold 4,273 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The stock was 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 owns 62,574 shares in the company, 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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