BroadSoft CEO Unloads $273,420 in Stock (BSFT)
BroadSoft (NASDAQ:BSFT) CEO Michael Tessler sold 7,812 shares of the company’s stock on the open market in a transaction dated Monday, September 9th. The shares were sold at an average price of $35.00, for a total transaction of $273,420.00. Following the completion of the transaction, the chief executive officer now directly owns 199,825 shares of the company’s stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on BSFT shares. Analysts at Wedbush raised their price target on shares of BroadSoft (NASDAQ:BSFT) from $29.00 to $30.00 in a research note to investors on Wednesday, August 7th. Separately, analysts at Deutsche Bank raised their price target on shares of BroadSoft (NASDAQ:BSFT) from $25.00 to $28.00 in a research note to investors on Wednesday, August 7th. They now have a “hold” rating on the stock. Finally, analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of BroadSoft (NASDAQ:BSFT) in a research note to investors on Tuesday, August 6th. They now have a $33.00 price target on the stock.
One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. BroadSoft currently has an average rating of “Hold” and an average target price of $34.34.
Shares of BroadSoft (NASDAQ:BSFT) traded up 2.60% during mid-day trading on Wednesday, hitting $36.69. 394,341 shares of the company’s stock traded hands. BroadSoft has a 52 week low of $20.45 and a 52 week high of $42.96. The stock has a 50-day moving average of $31.91 and a 200-day moving average of $28.33. The company has a market cap of $1.032 billion and a price-to-earnings ratio of 372.50.
BroadSoft (NASDAQ:BSFT) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.10. The company had revenue of $44.00 million for the quarter, compared to the consensus estimate of $42.81 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts expect that BroadSoft will post $1.31 EPS for the current fiscal year.
BroadSoft, Inc (NASDAQ:BSFT) is a is a global provider of software and services that enable mobile, fixed-line and cable service providers to deliver unified communications (UC) and other voice and multimedia services over their Internet protocol-based (IP-based) networks.
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