Dudley & Shanley LLC lowered its position in BroadSoft Inc. (NASDAQ:BSFT) by 15.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,500 shares of the company’s stock after selling 8,500 shares during the period. BroadSoft accounts for about 0.4% of Dudley & Shanley LLC’s holdings, making the stock its 22nd largest position. Dudley & Shanley LLC’s holdings in BroadSoft were worth $1,908,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC bought a new stake in BroadSoft during the second quarter worth $15,703,000. Bayesian Capital Management LP boosted its stake in BroadSoft by 8.4% in the first quarter. Bayesian Capital Management LP now owns 7,134 shares of the company’s stock worth $288,000 after buying an additional 554 shares during the last quarter. Boothbay Fund Management LLC boosted its stake in BroadSoft by 86.6% in the first quarter. Boothbay Fund Management LLC now owns 16,296 shares of the company’s stock worth $658,000 after buying an additional 7,564 shares during the last quarter. Bank of Montreal Can bought a new stake in BroadSoft during the second quarter worth $199,000. Finally, Prudential Financial Inc. bought a new stake in BroadSoft during the first quarter worth $360,000.
BroadSoft Inc. (NASDAQ:BSFT) traded up 0.33% during trading on Monday, reaching $45.15. 44,782 shares of the company were exchanged. The stock has a market capitalization of $1.35 billion, a PE ratio of 331.99 and a beta of 1.61. BroadSoft Inc. has a 52-week low of $26.99 and a 52-week high of $48.40. The firm’s 50 day moving average is $46.25 and its 200 day moving average is $43.14.
BroadSoft (NASDAQ:BSFT) last released its earnings results on Monday, August 1st. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.13. The company earned $81.70 million during the quarter, compared to analysts’ expectations of $78.99 million. BroadSoft had a return on equity of 11.07% and a net margin of 0.79%. The business’s revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. Analysts expect that BroadSoft Inc. will post $2.06 EPS for the current year.
BSFT has been the topic of a number of research analyst reports. Jefferies Group reissued a “buy” rating on shares of BroadSoft in a report on Wednesday, July 6th. Raymond James Financial Inc. raised their price objective on shares of BroadSoft from $45.00 to $51.00 and gave the stock a “strong-buy” rating in a report on Tuesday, August 2nd. Dougherty & Co lifted their target price on shares of BroadSoft from $47.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of BroadSoft in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $45.43.
In other news, CEO Michael Tessler sold 7,149 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $42.75, for a total transaction of $305,619.75. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. Also, insider Taher G. Behbehani sold 4,273 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $45.89, for a total value of $196,087.97. Following the transaction, 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.
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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