BroadSoft, Inc. (NASDAQ:BSFT) has earned an average recommendation of “Buy” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $48.38.
A number of research analysts have weighed in on BSFT shares. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 target price on shares of BroadSoft in a research note on Thursday, September 28th. BidaskClub upgraded shares of BroadSoft from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. ValuEngine upgraded shares of BroadSoft from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Cowen and Company reiterated a “buy” rating and issued a $51.00 target price on shares of BroadSoft in a research note on Friday, July 28th. Finally, Robert W. Baird boosted their target price on shares of BroadSoft from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, August 8th.
BroadSoft (NASDAQ:BSFT) traded up 0.37% on Friday, reaching $54.45. 265,002 shares of the company’s stock traded hands. BroadSoft has a 52-week low of $33.85 and a 52-week high of $54.70. The company’s 50 day moving average is $48.89 and its 200-day moving average is $42.77. The stock’s market cap is $1.69 billion.
BroadSoft (NASDAQ:BSFT) last released its earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.53. The firm had revenue of $88.80 million for the quarter, compared to analysts’ expectations of $86.63 million. BroadSoft had a negative net margin of 2.34% and a positive return on equity of 4.72%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. Equities analysts expect that BroadSoft will post $2.27 EPS for the current year.
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 shares were sold at an average price of $48.00, for a total value of $640,512.00. Following the sale, the insider now owns 114,398 shares of the company’s stock, valued at $5,491,104. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 transaction of $144,000.00. Following the completion of the sale, the director now directly owns 22,839 shares in the company, valued at approximately $1,096,272. The disclosure for this sale can be found here. In the last three months, insiders sold 29,688 shares of company stock worth $1,458,384. Insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BSFT. Ameritas Investment Partners Inc. bought a new stake in shares of BroadSoft in the first quarter valued at approximately $102,000. Eqis Capital Management Inc. bought a new stake in shares of BroadSoft in the third quarter valued at approximately $208,000. Pitcairn Co. bought a new stake in shares of BroadSoft in the second quarter valued at approximately $222,000. US Bancorp DE raised its position in shares of BroadSoft by 9.6% in the second quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock valued at $284,000 after purchasing an additional 579 shares during the period. Finally, Wrapmanager Inc. bought a new stake in shares of BroadSoft in the second quarter valued at approximately $300,000.
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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