Shares of BroadSoft Inc. (NASDAQ:BSFT) have been assigned a consensus rating of “Buy” from the ten ratings firms that are currently covering the company. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $46.17.
A number of equities research analysts recently commented on the stock. Jefferies Group raised their price objective on shares of BroadSoft from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, September 28th. Raymond James Financial Inc. raised their price objective on shares of BroadSoft from $45.00 to $51.00 and gave the company a “strong-buy” rating in a research report on Tuesday, August 2nd. William Blair restated an “outperform” rating on shares of BroadSoft in a research report on Tuesday, August 2nd. Finally, Dougherty & Co raised their price objective on shares of BroadSoft from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd.
In other news, CEO Michael Tessler sold 7,149 shares of BroadSoft stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $42.75, for a total transaction of $305,619.75. Following the completion of the sale, the chief executive officer now directly owns 192,222 shares in the company, valued at approximately $8,217,490.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Taher G. Behbehani sold 4,273 shares of BroadSoft stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $45.89, for a total transaction of $196,087.97. Following the sale, the insider now owns 62,574 shares of the company’s stock, valued at $2,871,520.86. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Copper Rock Capital Partners LLC bought a new stake in BroadSoft during the third quarter worth about $32,248,000. BNP Paribas Arbitrage SA increased its stake in BroadSoft by 115.1% in the third quarter. BNP Paribas Arbitrage SA now owns 2,461 shares of the company’s stock worth $115,000 after buying an additional 1,317 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in BroadSoft by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 105,902 shares of the company’s stock worth $4,346,000 after buying an additional 2,004 shares during the last quarter. Fiera Capital Corp bought a new stake in BroadSoft during the second quarter worth about $51,478,000. Finally, Highbridge Capital Management LLC bought a new stake in BroadSoft during the second quarter worth about $380,000.
BroadSoft (NASDAQ:BSFT) opened at 47.49 on Wednesday. The company has a 50-day moving average price of $45.90 and a 200-day moving average price of $42.85. The firm has a market capitalization of $1.42 billion, a PE ratio of 349.19 and a beta of 1.61. BroadSoft has a 12-month low of $26.99 and a 12-month high of $48.14.
BroadSoft (NASDAQ:BSFT) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.13. The firm earned $81.70 million during the quarter, compared to the consensus estimate of $78.99 million. BroadSoft had a net margin of 0.79% and a return on equity of 11.07%. The firm’s revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. On average, analysts predict that BroadSoft will post $2.06 earnings per share for the current year.
BroadSoft Company Profile
BroadSoft, Inc is a provider of software and services that enable telecommunications service providers to deliver hosted, cloud-based Unified Communications (UC) to their enterprise customers. The Company offers service providers two deployment options, software and software-as-a-service (SaaS), to enable them to offer UC services to their enterprise customers.
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