BroadSoft, Inc. (BSFT) Cut to Buy at BidaskClub
BidaskClub lowered shares of BroadSoft, Inc. (NASDAQ:BSFT) from a strong-buy rating to a buy rating in a research note published on Wednesday morning.
Other research analysts have also recently issued research reports about the stock. William Blair reiterated a buy rating on shares of BroadSoft in a research note on Thursday, May 4th. Dougherty & Co dropped their price objective on shares of BroadSoft from $50.00 to $44.00 and set a buy rating for the company in a research report on Tuesday, May 2nd. Needham & Company LLC dropped their price objective on shares of BroadSoft from $48.00 to $44.00 and set a buy rating for the company in a research report on Tuesday, May 2nd. Jefferies Group LLC restated a buy rating and issued a $55.00 price objective on shares of BroadSoft in a research report on Monday, June 26th. Finally, ValuEngine upgraded shares of BroadSoft from a sell rating to a hold rating in a research report on Tuesday, June 27th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $48.00.
BroadSoft (NASDAQ:BSFT) opened at 42.10 on Wednesday. The company has a 50-day moving average price of $40.54 and a 200-day moving average price of $40.92. BroadSoft has a one year low of $33.85 and a one year high of $48.40. The company’s market capitalization is $1.29 billion.
BroadSoft (NASDAQ:BSFT) last posted its earnings results on Monday, May 1st. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. BroadSoft had a negative net margin of 2.36% and a positive return on equity of 5.12%. The company had revenue of $79.70 million during the quarter, compared to analysts’ expectations of $80.42 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. BroadSoft’s quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that BroadSoft will post $2.28 EPS for the current year.
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In other news, insider Taher G. Behbehani sold 1,716 shares of the business’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $38.00, for a total value of $65,208.00. Following the completion of the transaction, the insider now owns 72,221 shares of the company’s stock, valued at approximately $2,744,398. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new position in shares of BroadSoft during the first quarter valued at about $102,000. Koch Industries Inc. purchased a new position in shares of BroadSoft during the first quarter valued at about $220,000. Fox Run Management L.L.C. purchased a new position in shares of BroadSoft during the first quarter valued at about $225,000. Wealthsource Partners LLC raised its position in shares of BroadSoft by 13.2% in the first quarter. Wealthsource Partners LLC now owns 6,285 shares of the software maker’s stock valued at $253,000 after buying an additional 735 shares during the period. Finally, Atria Investments LLC raised its position in shares of BroadSoft by 3.7% in the first quarter. Atria Investments LLC now owns 6,384 shares of the software maker’s stock valued at $257,000 after buying an additional 227 shares during the period.
BroadSoft Company Profile
BroadSoft, Inc is a global provider of software and services that enable telecommunications service providers to deliver hosted, cloud-based Unified Communications (UC) to their enterprise customers. The BroadSoft Business solution is a communications and collaboration offering that enables telecommunications service providers to offer businesses and other enterprises UC features and functionalities on a cloud-delivered basis without the need for traditional premise-based private branch exchange (PBX) equipment.
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