BroadSoft, Inc. (NASDAQ:BSFT) insider Scott D. Hoffpauir sold 4,448 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $51.50, for a total transaction of $229,072.00. Following the sale, the insider now owns 101,054 shares of the company’s stock, valued at approximately $5,204,281. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
BroadSoft, Inc. (BSFT) opened at 50.00 on Thursday. The stock’s market capitalization is $1.55 billion. BroadSoft, Inc. has a 12-month low of $33.85 and a 12-month high of $52.15. The company’s 50-day moving average is $46.26 and its 200 day moving average is $41.96.
BroadSoft (NASDAQ:BSFT) last posted its earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.53. The firm had revenue of $88.80 million during the quarter, compared to analyst estimates of $86.63 million. BroadSoft had a negative net margin of 2.34% and a positive return on equity of 4.72%. BroadSoft’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. On average, analysts predict that BroadSoft, Inc. will post $2.27 EPS for the current year.
A number of institutional investors have recently bought and sold shares of BSFT. BlackRock Inc. boosted its stake in BroadSoft by 86,871.0% during the 1st quarter. BlackRock Inc. now owns 2,208,194 shares of the software maker’s stock valued at $88,770,000 after purchasing an additional 2,205,655 shares during the period. Southpoint Capital Advisors LP bought a new stake in shares of BroadSoft during the 2nd quarter worth about $59,979,000. Clearbridge Investments LLC raised its position in shares of BroadSoft by 45.2% during the 1st quarter. Clearbridge Investments LLC now owns 1,868,977 shares of the software maker’s stock worth $75,133,000 after buying an additional 581,922 shares in the last quarter. SQN Investors LP bought a new stake in shares of BroadSoft during the 2nd quarter worth about $16,949,000. Finally, Rubric Capital Management LP bought a new stake in shares of BroadSoft during the 2nd quarter worth about $16,919,000.
Several equities research analysts have recently weighed in on the stock. Needham & Company LLC increased their target price on shares of BroadSoft from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, September 6th. ValuEngine raised shares of BroadSoft from a “sell” rating to a “hold” rating in a report on Friday, September 1st. William Blair reissued a “buy” rating on shares of BroadSoft in a report on Wednesday, August 9th. Robert W. Baird increased their price target on shares of BroadSoft from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, August 8th. Finally, Cowen and Company reissued a “buy” rating and set a $51.00 price target on shares of BroadSoft in a report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.38.
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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