BroadSoft Inc (NASDAQ:BSFT) has been assigned a consensus recommendation of “Buy” from the eight analysts that are presently covering the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $49.40.
A number of equities research analysts recently commented on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $55.00 price target on shares of BroadSoft in a report on Friday, February 24th. Robert W. Baird initiated coverage on shares of BroadSoft in a research report on Tuesday, April 11th. They set a “neutral” rating and a $44.00 price objective on the stock. Finally, William Blair reissued a “buy” rating on shares of BroadSoft in a research report on Sunday, April 9th.
Shares of BroadSoft (NASDAQ:BSFT) remained flat at $38.10 on Monday. The stock had a trading volume of 282,444 shares. The stock has a 50 day moving average of $40.67 and a 200-day moving average of $42.23. The firm has a market capitalization of $1.16 billion, a P/E ratio of 1360.71 and a beta of 1.67. BroadSoft has a one year low of $35.01 and a one year high of $48.40.
BroadSoft (NASDAQ:BSFT) last posted its quarterly earnings results on Thursday, February 23rd. The software maker reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.16. BroadSoft had a net margin of 2.01% and a return on equity of 11.32%. The company earned $102 million during the quarter, compared to analyst estimates of $98.31 million. During the same period in the prior year, the business posted $1.04 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. Equities research analysts expect that BroadSoft will post $2.33 EPS for the current fiscal year.
In related news, CEO Michael Tessler sold 6,446 shares of the stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $45.00, for a total transaction of $290,070.00. Following the sale, the chief executive officer now directly owns 174,480 shares of the company’s stock, valued at approximately $7,851,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John D. Jr. Markley sold 1,000 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $42.66, for a total transaction of $42,660.00. Following the transaction, the director now owns 25,839 shares in the company, valued at approximately $1,102,291.74. The disclosure for this sale can be found here. Insiders sold a total of 13,634 shares of company stock worth $597,270 over the last ninety days. Insiders own 1.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Capital One National Association boosted its position in BroadSoft by 1.5% in the third quarter. Capital One National Association now owns 9,254 shares of the software maker’s stock valued at $431,000 after buying an additional 136 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in BroadSoft by 1.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,327 shares of the software maker’s stock valued at $426,000 after buying an additional 143 shares in the last quarter. Renaissance Group LLC boosted its position in BroadSoft by 2.1% in the fourth quarter. Renaissance Group LLC now owns 7,267 shares of the software maker’s stock valued at $300,000 after buying an additional 147 shares in the last quarter. Atria Investments LLC boosted its position in 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 in the last quarter. Finally, Quotient Investors LLC boosted its position in BroadSoft by 1.7% in the first quarter. Quotient Investors LLC now owns 17,600 shares of the software maker’s stock valued at $708,000 after buying an additional 300 shares in the last quarter.
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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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