BroadSoft Inc (BSFT) Given Average Recommendation of “Hold” by Brokerages

Shares of BroadSoft Inc (NASDAQ:BSFT) have been assigned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $47.40.

Several equities analysts recently issued reports on BSFT shares. Cowen downgraded BroadSoft from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 7th. BidaskClub downgraded BroadSoft from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Zacks Investment Research downgraded BroadSoft from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Dougherty & Co downgraded BroadSoft from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 24th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $55.00 target price on shares of BroadSoft in a research report on Tuesday, October 24th.

Shares of BroadSoft (NASDAQ BSFT) opened at $54.90 on Friday. BroadSoft has a twelve month low of $33.85 and a twelve month high of $55.05. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1,740.00, a price-to-earnings ratio of -152.50 and a beta of 0.97.

In related news, insider Scott D. Hoffpauir sold 4,448 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $54.96, for a total value of $244,462.08. Following the transaction, the insider now directly owns 77,991 shares of the company’s stock, valued at approximately $4,286,385.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 13,344 shares of company stock worth $730,317. 1.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BSFT. Alpine Associates Management Inc. acquired a new stake in BroadSoft during the 4th quarter worth about $67,743,000. Legion Partners Asset Management LLC grew its position in BroadSoft by 166.0% during the 3rd quarter. Legion Partners Asset Management LLC now owns 929,226 shares of the software maker’s stock worth $46,740,000 after purchasing an additional 579,835 shares during the period. Gabelli Funds LLC acquired a new stake in BroadSoft during the 4th quarter worth about $22,446,000. Chicago Capital Management LLC acquired a new stake in BroadSoft during the 4th quarter worth about $18,540,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in BroadSoft during the 4th quarter worth about $13,275,000.

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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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