BroadSoft (BSFT) Cut to Sell at BidaskClub

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.

In related news, insider Scott D. Hoffpauir sold 4,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $52.89, for a total value of $235,254.72. Following the sale, the insider now owns 94,656 shares of the company’s stock, valued at $5,006,355.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 13,344 shares of company stock worth $721,110. 1.50% of the stock is owned by corporate insiders.

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.

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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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