BroadSoft Inc (BSFT) Receives Consensus Rating of “Hold” from Analysts

BroadSoft Inc (NASDAQ:BSFT) has received an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $47.40.

Several research firms recently commented on BSFT. BidaskClub cut BroadSoft from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 10th. Zacks Investment Research raised BroadSoft from a “sell” rating to a “hold” rating in a research note on Monday, January 8th. Northland Securities reaffirmed a “hold” rating and set a $42.00 price target on shares of BroadSoft in a report on Sunday, November 19th. Raymond James Financial downgraded BroadSoft from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 15th. Finally, Cowen downgraded BroadSoft from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 7th.

In other news, insider Scott D. Hoffpauir sold 4,448 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $54.66, for a total value of $243,127.68. Following the completion of the sale, the insider now directly owns 83,945 shares of the company’s stock, valued at approximately $4,588,433.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of BroadSoft by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,533,349 shares of the software maker’s stock valued at $109,060,000 after purchasing an additional 92,265 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of BroadSoft by 6.2% in the 3rd quarter. Brown Advisory Inc. now owns 1,722,896 shares of the software maker’s stock valued at $86,662,000 after purchasing an additional 100,797 shares during the last quarter. Southpoint Capital Advisors LP purchased a new stake in shares of BroadSoft in the 2nd quarter valued at about $59,979,000. Legion Partners Asset Management LLC lifted its holdings in shares of BroadSoft by 166.0% in the 3rd quarter. Legion Partners Asset Management LLC now owns 929,226 shares of the software maker’s stock valued at $46,740,000 after purchasing an additional 579,835 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of BroadSoft by 4.7% in the 2nd quarter. Voya Investment Management LLC now owns 911,758 shares of the software maker’s stock valued at $39,251,000 after purchasing an additional 40,676 shares during the last quarter.

BroadSoft (BSFT) opened at $54.85 on Tuesday. BroadSoft has a one year low of $33.85 and a one year high of $55.05. The company has a market capitalization of $1,742.91, a price-to-earnings ratio of -152.36, a P/E/G ratio of 3.54 and a beta of 0.93. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.41.

BroadSoft (NASDAQ:BSFT) last released its earnings results on Monday, November 6th. The software maker reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.06. BroadSoft had a positive return on equity of 3.78% and a negative net margin of 2.86%. analysts anticipate that BroadSoft will post 0.8 earnings per share for the current fiscal year.

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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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