BroadSoft Inc. (BSFT) Shares Down 4.8%
BroadSoft Inc. (NASDAQ:BSFT) was down 4.8% during mid-day trading on Thursday . The company 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 equities research analysts have recently issued reports on BSFT shares. Zacks Investment Research cut BroadSoft from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. 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. Deutsche Bank AG reiterated a “hold” rating and set a $33.00 price objective on shares of BroadSoft in a research note on Thursday, April 14th. Finally, Dougherty & Co upped their price objective on BroadSoft from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, April 29th. One equities research 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. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.83.
The stock has a market cap of $1.30 billion and a PE ratio of 819.07. The firm has a 50-day moving average of $43.21 and a 200-day moving average of $38.71.
BroadSoft (NASDAQ:BSFT) last announced its quarterly earnings data on Monday, May 2nd. The company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.11. During the same period last year, the business posted $0.24 EPS. The firm earned $73.10 million during the quarter, compared to analyst estimates of $71.58 million. The company’s revenue was up 31.2% on a year-over-year basis. On average, equities analysts forecast that BroadSoft Inc. will post $2.03 earnings per share for the current fiscal year.
In other BroadSoft news, insider Taher G. Behbehani sold 4,273 shares of the firm’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 value of $196,087.97. Following the completion of the sale, the insider now owns 62,574 shares of the company’s stock, valued at $2,871,520.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Taher G. Behbehani sold 1,955 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $39.14, for a total value of $76,518.70. Following the completion of the sale, the chief marketing officer now directly owns 64,474 shares of the company’s stock, valued at approximately $2,523,512.36. The disclosure for this sale can be found here.
A number of large investors have recently made changes to their positions in BSFT. Rhumbline Advisers boosted its stake in shares of 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 period. Deere & Co. bought a new position in shares of BroadSoft during the fourth quarter valued at about $1,519,000. Redwood Investments LLC boosted its position in shares of 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. Sabal Capital Management LLC bought a new position in shares of BroadSoft during the fourth quarter valued at about $3,308,000. Finally, New York State Common Retirement Fund boosted its position in shares of 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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