OppenheimerFunds Inc. decreased its holdings in BroadSoft Inc (NASDAQ:BSFT) by 95.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,445 shares of the software maker’s stock after selling 496,690 shares during the quarter. OppenheimerFunds Inc. owned approximately 0.07% of BroadSoft worth $1,232,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc grew its holdings in BroadSoft by 53.8% in the 3rd quarter. Legal & General Group Plc now owns 14,623 shares of the software maker’s stock valued at $735,000 after buying an additional 5,117 shares during the period. Legion Partners Asset Management LLC grew its holdings in 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 buying an additional 579,835 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in BroadSoft in the 4th quarter valued at about $3,020,000. First Trust Advisors LP purchased a new stake in BroadSoft in the 3rd quarter valued at about $1,333,000. Finally, Omni Partners LLP purchased a new stake in BroadSoft in the 4th quarter valued at about $259,000.
Several research firms have commented on BSFT. BidaskClub cut BroadSoft from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 10th. Zacks Investment Research upgraded BroadSoft from a “sell” rating to a “hold” rating in a report on Monday, January 8th. Finally, Northland Securities restated a “hold” rating and issued a $42.00 price target on shares of BroadSoft in a report on Sunday, November 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. BroadSoft has an average rating of “Hold” and a consensus target price of $50.40.
BroadSoft Inc (NASDAQ:BSFT) opened at $54.95 on Friday. The firm has a market capitalization of $1,740.00, a PE ratio of -152.64 and a beta of 0.97. BroadSoft Inc has a 52 week low of $33.85 and a 52 week 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.
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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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