Robert W. Baird reiterated their hold rating on shares of BroadSoft, Inc. (NASDAQ:BSFT) in a research report report published on Friday. Robert W. Baird currently has a $45.00 target price on the software maker’s stock.
A number of other brokerages have also issued reports on BSFT. Zacks Investment Research raised BroadSoft from a hold rating to a strong-buy rating and set a $63.00 target price on the stock in a research report on Monday, October 9th. William Blair reaffirmed an outperform rating on shares of BroadSoft in a research report on Thursday, October 5th. Northland Securities reaffirmed a hold rating and issued a $42.00 target price on shares of BroadSoft in a research report on Wednesday, October 4th. Jefferies Group LLC reaffirmed a buy rating and issued a $55.00 target price on shares of BroadSoft in a research report on Thursday, September 28th. Finally, ValuEngine raised BroadSoft from a sell rating to a hold rating in a research report on Friday, September 1st. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. BroadSoft has a consensus rating of Buy and a consensus price target of $49.67.
Shares of BroadSoft (NASDAQ:BSFT) traded up 0.75% during mid-day trading on Friday, reaching $53.90. 161,240 shares of the company traded hands. The firm’s 50 day moving average price is $51.51 and its 200-day moving average price is $43.66. BroadSoft has a 52-week low of $33.85 and a 52-week high of $54.70. The company’s market capitalization is $1.67 billion.
BroadSoft (NASDAQ:BSFT) last announced its earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.53. BroadSoft had a positive return on equity of 4.72% and a negative net margin of 2.34%. The company had revenue of $88.80 million for the quarter, compared to analyst estimates of $86.63 million. During the same period in the prior year, the company posted $0.49 EPS. BroadSoft’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts predict that BroadSoft will post $2.27 earnings per share for the current fiscal year.
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In other news, insider Scott D. Hoffpauir sold 13,344 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $48.00, for a total value of $640,512.00. Following the completion of the sale, the insider now directly owns 114,398 shares in the company, valued at approximately $5,491,104. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John D. Jr. Markley sold 3,000 shares of the business’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 value of $144,000.00. Following the completion of the sale, the director now owns 22,839 shares of the company’s stock, valued at $1,096,272. The disclosure for this sale can be found here. Insiders sold a total of 34,136 shares of company stock valued at $1,693,639 over the last quarter. Company insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of BSFT. Swiss National Bank increased its holdings in shares of BroadSoft by 3.1% in the 1st quarter. Swiss National Bank now owns 49,700 shares of the software maker’s stock valued at $1,998,000 after acquiring an additional 1,500 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of BroadSoft by 22.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 10,799 shares of the software maker’s stock valued at $434,000 after acquiring an additional 2,000 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of BroadSoft in the 1st quarter valued at approximately $102,000. JPMorgan Chase & Co. increased its holdings in shares of BroadSoft by 94.8% in the 1st quarter. JPMorgan Chase & Co. now owns 24,853 shares of the software maker’s stock valued at $1,000,000 after acquiring an additional 12,095 shares during the last quarter. Finally, American International Group Inc. increased its holdings in shares of BroadSoft by 7.1% in the 1st quarter. American International Group Inc. now owns 18,111 shares of the software maker’s stock valued at $728,000 after acquiring an additional 1,197 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.
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