Northland Securities restated their hold rating on shares of BroadSoft, Inc. (NASDAQ:BSFT) in a research report report published on Sunday morning. The firm currently has a $42.00 target price on the software maker’s stock.

Several other research analysts also recently issued reports on the stock. Raymond James Financial, Inc. downgraded shares of BroadSoft from an outperform rating to a market perform rating in a research note on Wednesday, November 15th. Cowen and Company downgraded shares of BroadSoft from an outperform rating to a market perform rating in a research note on Tuesday, November 7th. Zacks Investment Research downgraded shares of BroadSoft from a buy rating to a hold rating in a research note on Thursday, October 26th. Dougherty & Co cut shares of BroadSoft from a buy rating to a neutral rating in a report on Tuesday, October 24th. Finally, Needham & Company LLC cut shares of BroadSoft from a buy rating to a hold rating in a report on Tuesday, October 24th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $50.40.

BroadSoft (NASDAQ BSFT) opened at $54.70 on Friday. The stock has a market cap of $1,729.64, a P/E ratio of 156.14, a PEG ratio of 4.27 and a beta of 0.96. BroadSoft has a 52 week low of $33.85 and a 52 week high of $55.00. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.41.

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In other BroadSoft news, insider Scott D. Hoffpauir sold 4,448 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $54.57, for a total transaction of $242,727.36. Following the completion of the sale, the insider now directly owns 90,208 shares of the company’s stock, valued at $4,922,650.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John D. Jr. Markley sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total transaction of $144,000.00. Following the sale, the director now directly owns 22,839 shares of the company’s stock, valued at $1,096,272. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,584 shares of company stock valued at $1,936,366. 1.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in BSFT. UBS Asset Management Americas Inc. increased its holdings in BroadSoft by 22.7% during the first quarter. UBS Asset Management Americas Inc. now owns 10,799 shares of the software maker’s stock valued at $434,000 after buying an additional 2,000 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in BroadSoft by 94.8% during the first quarter. JPMorgan Chase & Co. now owns 24,853 shares of the software maker’s stock valued at $1,000,000 after buying an additional 12,095 shares during the last quarter. Teachers Advisors LLC increased its holdings in BroadSoft by 1.2% during the first quarter. Teachers Advisors LLC now owns 49,286 shares of the software maker’s stock valued at $1,981,000 after buying an additional 581 shares during the last quarter. Vanguard Group Inc. increased its holdings in BroadSoft by 6.6% during the first quarter. Vanguard Group Inc. now owns 2,441,084 shares of the software maker’s stock valued at $98,132,000 after buying an additional 150,680 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in BroadSoft by 6.9% during the first quarter. Geode Capital Management LLC now owns 248,897 shares of the software maker’s stock valued at $10,005,000 after buying an additional 16,039 shares during the last quarter.

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.

Analyst Recommendations for BroadSoft (NASDAQ:BSFT)

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