BroadSoft (NASDAQ:BSFT) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Several other brokerages have also recently issued reports on BSFT. Dougherty & Co cut shares of BroadSoft from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 24th. Zacks Investment Research cut shares of BroadSoft from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Raymond James Financial cut shares of BroadSoft from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 15th. Needham & Company LLC upped their price target on shares of BroadSoft from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. Finally, ValuEngine upgraded shares of BroadSoft from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $50.40.

BroadSoft (NASDAQ BSFT) traded up $0.12 during mid-day trading on Thursday, reaching $54.80. 714,606 shares of the company were exchanged, compared to its average volume of 1,510,000. The firm has a market cap of $1,730.00, a PE ratio of 156.21, a price-to-earnings-growth ratio of 4.56 and a beta of 0.92. BroadSoft has a twelve month low of $33.85 and a twelve month high of $55.05. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.64 and a current ratio of 2.64.

In other BroadSoft news, insider Scott D. Hoffpauir sold 4,448 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $51.50, for a total value of $229,072.00. Following the completion of the transaction, the insider now directly owns 101,054 shares in the company, valued at approximately $5,204,281. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 13,344 shares of company stock valued at $707,054. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of BSFT. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of BroadSoft during the third quarter worth $130,000. Eqis Capital Management Inc. acquired a new stake in shares of BroadSoft during the third quarter worth $208,000. Pitcairn Co. acquired a new stake in shares of BroadSoft during the second quarter worth $222,000. US Bancorp DE increased its position in shares of BroadSoft by 9.6% during the second quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock worth $284,000 after buying an additional 579 shares during the period. Finally, Wrapmanager Inc. acquired a new stake in shares of BroadSoft during the second quarter worth $300,000.

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About BroadSoft

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.

Analyst Recommendations for BroadSoft (NASDAQ:BSFT)

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