Jefferies Group Boosts BroadSoft Inc. (BSFT) Price Target to $55.00
Other research analysts have also issued research reports about the stock. William Blair reiterated a buy rating on shares of BroadSoft in a research note on Tuesday, May 31st. 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 research note on Tuesday, August 2nd. Finally, Raymond James Financial Inc. upped their price target on shares of BroadSoft from $45.00 to $51.00 and gave the company a strong-buy rating in a research note on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. BroadSoft has a consensus rating of Buy and a consensus price target of $45.43.
Shares of BroadSoft (NASDAQ:BSFT) opened at 46.55 on Wednesday. The company has a 50-day moving average price of $45.26 and a 200 day moving average price of $42.46. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 342.28 and a beta of 1.61. BroadSoft has a one year low of $26.99 and a one year high of $48.01.
BroadSoft (NASDAQ:BSFT) last released its quarterly earnings data on Monday, August 1st. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.13. The company had revenue of $81.70 million for the quarter, compared to analyst estimates of $78.99 million. BroadSoft had a net margin of 0.79% and a return on equity of 11.07%. BroadSoft’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. On average, analysts forecast that BroadSoft will post $2.06 EPS for the current fiscal year.
In other news, CEO Michael Tessler sold 7,149 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $42.75, for a total transaction of $305,619.75. Following the completion of the sale, the chief executive officer now owns 192,222 shares of the company’s stock, valued at approximately $8,217,490.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dennis Dourgarian sold 2,600 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $45.40, for a total transaction of $118,040.00. Following the sale, the insider now directly owns 30,035 shares of the company’s stock, valued at approximately $1,363,589. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Bayesian Capital Management LP increased its stake in shares of BroadSoft by 8.4% in the first quarter. Bayesian Capital Management LP now owns 7,134 shares of the company’s stock worth $288,000 after buying an additional 554 shares during the period. Boothbay Fund Management LLC increased its stake in shares of BroadSoft by 86.6% in the first quarter. Boothbay Fund Management LLC now owns 16,296 shares of the company’s stock worth $658,000 after buying an additional 7,564 shares during the period. Royce & Associates LP purchased a new stake in shares of BroadSoft during the second quarter worth $2,134,000. Acrospire Investment Management LLC purchased a new stake in shares of BroadSoft during the first quarter worth $286,000. Finally, Swiss National Bank increased its stake in shares of BroadSoft by 5.8% in the second quarter. Swiss National Bank now owns 47,200 shares of the company’s stock worth $1,937,000 after buying an additional 2,600 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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