BroadSoft, Inc. (BSFT) Rating Reiterated by William Blair
BroadSoft, Inc. (NASDAQ:BSFT)‘s stock had its “outperform” rating reaffirmed by William Blair in a research note issued on Thursday.
A number of other research firms have also recently commented on BSFT. Wells Fargo & Company reiterated an “outperform” rating and issued a $50.00 price target (up from $46.00) on shares of BroadSoft in a research note on Monday, June 19th. Northland Securities reiterated a “hold” rating and issued a $42.00 price target on shares of BroadSoft in a research note on Friday, July 21st. Barclays PLC began coverage on BroadSoft in a research note on Friday, July 7th. They issued an “equal weight” rating and a $45.00 price target for the company. BidaskClub cut BroadSoft from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Cowen and Company reiterated a “buy” rating and issued a $51.00 price target on shares of BroadSoft in a research note on Friday, July 28th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $48.38.
BroadSoft (BSFT) traded up 1.31% during trading on Thursday, hitting $54.25. The stock had a trading volume of 259,688 shares. The stock’s market capitalization is $1.68 billion. BroadSoft has a 52-week low of $33.85 and a 52-week high of $54.35. The stock’s 50-day moving average is $48.34 and its 200-day moving average is $42.61.
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 company had revenue of $88.80 million for the quarter, compared to the consensus estimate of $86.63 million. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts predict that BroadSoft will post $2.27 earnings per share for the current fiscal year.
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In other news, Director John D. Jr. Markley sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $48.00, for a total value of $144,000.00. Following the completion of the transaction, the director now directly owns 22,839 shares in the company, valued at $1,096,272. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Scott D. Hoffpauir sold 8,896 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $50.00, for a total value of $444,800.00. Following the completion of the transaction, the insider now owns 105,502 shares of the company’s stock, valued at $5,275,100. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,688 shares of company stock valued at $1,458,384. Company insiders own 1.50% of the company’s stock.
Large investors have recently made changes to their positions in the company. Cipher Capital LP purchased a new position in shares of BroadSoft in the second quarter worth about $1,856,000. Renaissance Group LLC raised its stake in shares of BroadSoft by 16.9% in the second quarter. Renaissance Group LLC now owns 8,285 shares of the software maker’s stock worth $357,000 after purchasing an additional 1,196 shares during the last quarter. Kennedy Capital Management Inc. purchased a new position in shares of BroadSoft in the second quarter worth about $10,371,000. OLD National Bancorp IN purchased a new position in shares of BroadSoft in the second quarter worth about $382,000. Finally, Scout Investments Inc. raised its stake in shares of BroadSoft by 3.9% in the second quarter. Scout Investments Inc. now owns 149,950 shares of the software maker’s stock worth $6,455,000 after purchasing an additional 5,650 shares during the last quarter.
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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