BroadSoft, Inc. (BSFT) Given Consensus Rating of “Hold” by Analysts
Shares of BroadSoft, Inc. (NASDAQ:BSFT) have received an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $49.00.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of BroadSoft from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $55.00 price target on shares of BroadSoft in a report on Tuesday, October 24th. Dougherty & Co downgraded shares of BroadSoft from a “buy” rating to a “neutral” rating in a report on Tuesday, October 24th. Needham & Company LLC downgraded shares of BroadSoft from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, William Blair reissued an “outperform” rating on shares of BroadSoft in a report on Thursday, October 5th.
In other BroadSoft news, insider Scott D. Hoffpauir sold 8,896 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $50.00, for a total transaction of $444,800.00. Following the transaction, the insider now directly owns 105,502 shares in the company, valued at $5,275,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John D. Jr. Markley sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were 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 in the company, valued at $1,096,272. The disclosure for this sale can be found here. Insiders sold 34,136 shares of company stock worth $1,693,639 over the last ninety days. 1.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Eqis Capital Management Inc. bought a new position in BroadSoft during the third quarter valued at approximately $208,000. Pitcairn Co. bought a new position in shares of BroadSoft in the second quarter worth approximately $222,000. US Bancorp DE grew its holdings in shares of BroadSoft by 9.6% in the second 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. Wrapmanager Inc. bought a new position in shares of BroadSoft in the second quarter worth approximately $300,000. Finally, Ramsey Quantitative Systems bought a new position in shares of BroadSoft in the second quarter worth approximately $349,000.
BroadSoft (NASDAQ:BSFT) last announced its quarterly earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.53. BroadSoft had a negative net margin of 2.34% and a positive return on equity of 4.72%. The firm had revenue of $88.80 million for the quarter, compared to the consensus estimate of $86.63 million. During the same period in the prior year, the firm posted $0.49 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis.
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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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