BroadSoft, Inc. (NASDAQ:BSFT) shares hit a new 52-week high on Monday . The company traded as high as $50.43 and last traded at $50.45, with a volume of 253,822 shares trading hands. The stock had previously closed at $49.50.
BSFT has been the topic of a number of research reports. BidaskClub upgraded BroadSoft from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. ValuEngine upgraded BroadSoft from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Cowen and Company restated a “buy” rating and issued a $51.00 price objective on shares of BroadSoft in a report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and set a $55.00 price target on shares of BroadSoft in a report on Tuesday, July 25th. Finally, Robert W. Baird lifted their price target on BroadSoft from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, August 8th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.38.
The firm’s market capitalization is $1.56 billion. The stock has a 50 day moving average price of $44.85 and a 200 day moving average price of $41.56.
BroadSoft (NASDAQ:BSFT) last issued its quarterly earnings data on Monday, August 7th. The software maker reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $88.80 million during the quarter, compared to analyst estimates of $86.63 million. During the same quarter last year, the firm earned $0.49 EPS. BroadSoft’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts predict that BroadSoft, Inc. will post $2.27 earnings per share for the current fiscal year.
In other BroadSoft news, Director John D. Jr. Markley sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $48.00, for a total transaction of $144,000.00. Following the transaction, the director now owns 22,839 shares of the company’s stock, valued at approximately $1,096,272. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Scott D. Hoffpauir sold 8,896 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $50.00, for a total value of $444,800.00. Following the transaction, the insider now directly owns 105,502 shares in the company, valued at approximately $5,275,100. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,240 shares of company stock valued at $1,229,312. 1.50% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. bought a new stake in shares of BroadSoft in the 1st quarter worth approximately $102,000. Koch Industries Inc. bought a new stake in shares of BroadSoft in the 1st quarter worth approximately $220,000. Pitcairn Co. bought a new stake in shares of BroadSoft in the 2nd quarter worth approximately $222,000. Wealthsource Partners LLC lifted its holdings in shares of BroadSoft by 13.2% in the 1st quarter. Wealthsource Partners LLC now owns 6,285 shares of the software maker’s stock worth $253,000 after purchasing an additional 735 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of BroadSoft by 9.6% in the 2nd quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock worth $284,000 after purchasing an additional 579 shares during the last quarter.
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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.
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