BroadSoft, Inc. (NASDAQ:BSFT) insider Scott D. Hoffpauir sold 4,448 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $52.89, for a total value of $235,254.72. Following the transaction, the insider now owns 94,656 shares in the company, valued at approximately $5,006,355.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
BroadSoft, Inc. (BSFT) opened at 53.90 on Friday. The company’s market cap is $1.67 billion. BroadSoft, Inc. has a 12-month low of $33.85 and a 12-month high of $54.70. The stock’s 50 day moving average price is $51.51 and its 200 day moving average price is $43.66.
BroadSoft (NASDAQ:BSFT) last announced its earnings results on Monday, August 7th. The software maker reported $0.40 EPS for the quarter, beating the 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 quarter in the prior year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts anticipate that BroadSoft, Inc. will post $2.27 EPS for the current year.
Several institutional investors have recently made changes to their positions in BSFT. Swiss National Bank boosted its position in shares of BroadSoft by 3.1% during the 1st quarter. Swiss National Bank now owns 49,700 shares of the software maker’s stock valued at $1,998,000 after purchasing an additional 1,500 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of BroadSoft by 22.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 10,799 shares of the software maker’s stock valued at $434,000 after purchasing an additional 2,000 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of BroadSoft during the 1st quarter valued at about $102,000. JPMorgan Chase & Co. boosted its position in shares of BroadSoft by 94.8% during the 1st quarter. JPMorgan Chase & Co. now owns 24,853 shares of the software maker’s stock valued at $1,000,000 after purchasing an additional 12,095 shares in the last quarter. Finally, American International Group Inc. boosted its position in shares of BroadSoft by 7.1% during the 1st quarter. American International Group Inc. now owns 18,111 shares of the software maker’s stock valued at $728,000 after purchasing an additional 1,197 shares in the last quarter.
A number of brokerages have issued reports on BSFT. Jefferies Group LLC restated a “buy” rating and set a $55.00 target price on shares of BroadSoft in a report on Tuesday, July 25th. William Blair restated a “buy” rating on shares of BroadSoft in a report on Wednesday, August 9th. Cowen and Company restated an “outperform” rating and set a $51.00 target price on shares of BroadSoft in a report on Wednesday, June 28th. Zacks Investment Research upgraded BroadSoft from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday. Finally, Northland Securities restated a “hold” rating and set a $42.00 target price on shares of BroadSoft in a report on Wednesday, October 4th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $49.67.
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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