BidaskClub cut shares of BroadSoft (NASDAQ:BSFT) from a hold rating to a sell rating in a report published on Wednesday morning.
Several other analysts have also recently issued reports on the stock. Northland Securities reissued a hold rating and set a $42.00 price target on shares of BroadSoft in a research report on Sunday, November 19th. Raymond James Financial cut shares of BroadSoft from an outperform rating to a market perform rating in a research report on Wednesday, November 15th. Cowen cut shares of BroadSoft from an outperform rating to a market perform rating in a report on Tuesday, November 7th. Zacks Investment Research cut shares of BroadSoft from a buy rating to a hold rating in a report on Thursday, October 26th. Finally, Dougherty & Co cut shares of BroadSoft from a buy rating to a neutral rating in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $50.40.
Shares of BroadSoft (NASDAQ:BSFT) remained flat at $$54.95 on Wednesday. The stock had a trading volume of 467,050 shares, compared to its average volume of 1,245,432. The firm has a market cap of $1,746.09, a price-to-earnings ratio of -152.64, a PEG ratio of 4.58 and a beta of 0.92. BroadSoft has a 1-year low of $33.85 and a 1-year 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.
A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System raised its holdings in BroadSoft by 4.5% during the third quarter. California Public Employees Retirement System now owns 58,094 shares of the software maker’s stock worth $2,922,000 after purchasing an additional 2,494 shares in the last quarter. Pacific Grove Capital LP acquired a new stake in BroadSoft during the third quarter worth approximately $3,089,000. Legion Partners Asset Management LLC raised its holdings in BroadSoft by 166.0% during the third quarter. Legion Partners Asset Management LLC now owns 929,226 shares of the software maker’s stock worth $46,740,000 after purchasing an additional 579,835 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in BroadSoft during the third quarter worth approximately $130,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in BroadSoft by 22.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 16,888 shares of the software maker’s stock worth $849,000 after purchasing an additional 3,043 shares in the last quarter.
ILLEGAL ACTIVITY NOTICE: This piece of content was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The correct version of this piece of content can be read at https://www.com-unik.info/2017/12/23/broadsoft-bsft-cut-to-sell-at-bidaskclub.html.
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.
Receive News & Ratings for BroadSoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BroadSoft and related companies with MarketBeat.com's FREE daily email newsletter.