BroadSoft, Inc. (BSFT) Shares Sold by Dana Investment Advisors Inc.
Dana Investment Advisors Inc. lessened its stake in BroadSoft, Inc. (NASDAQ:BSFT) by 21.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,707 shares of the software maker’s stock after selling 13,295 shares during the quarter. Dana Investment Advisors Inc. owned 0.15% of BroadSoft worth $2,400,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in BSFT. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of BroadSoft in the 3rd quarter valued at about $130,000. Eqis Capital Management Inc. purchased a new position in shares of BroadSoft in the 3rd quarter valued at about $208,000. Pitcairn Co. purchased a new position in shares of BroadSoft in the 2nd quarter valued at about $222,000. US Bancorp DE increased its holdings in shares of BroadSoft by 9.6% in the 2nd quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock valued at $284,000 after purchasing an additional 579 shares in the last quarter. Finally, Ramsey Quantitative Systems purchased a new position in shares of BroadSoft in the 2nd quarter valued at about $349,000.
In other BroadSoft news, insider Scott D. Hoffpauir sold 4,448 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $52.89, for a total transaction of $235,254.72. Following the sale, the insider now directly owns 94,656 shares of the company’s stock, valued at approximately $5,006,355.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 13,344 shares of company stock worth $707,054. 1.50% of the stock is owned by corporate insiders.
BSFT has been the subject of a number of research analyst reports. ValuEngine upgraded shares of BroadSoft from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Needham & Company LLC increased their price target on shares of BroadSoft from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, September 6th. Jefferies Group reissued a “buy” rating and issued a $55.00 price objective on shares of BroadSoft in a research note on Thursday, September 28th. Northland Securities reissued a “hold” rating and issued a $42.00 price objective on shares of BroadSoft in a research note on Wednesday, October 4th. Finally, William Blair reissued an “outperform” rating on shares of BroadSoft in a research note on Thursday, October 5th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $50.40.
Shares of BroadSoft, Inc. (BSFT) opened at $54.60 on Friday. The company has a market cap of $1,731.22, a PE ratio of 156.29, a P/E/G ratio of 4.56 and a beta of 0.92. BroadSoft, Inc. has a 12 month low of $33.85 and a 12 month high of $55.05. 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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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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