NGAM Advisors L.P. cut its stake in BroadSoft, Inc. (NASDAQ:BSFT) by 21.5% during the second quarter, Holdings Channel reports. The firm owned 67,762 shares of the software maker’s stock after selling 18,607 shares during the period. NGAM Advisors L.P.’s holdings in BroadSoft were worth $2,917,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Atria Investments LLC boosted its stake in shares of BroadSoft by 3.7% in the first quarter. Atria Investments LLC now owns 6,384 shares of the software maker’s stock valued at $257,000 after buying an additional 227 shares during the period. Quotient Investors LLC boosted its stake in shares of BroadSoft by 1.7% in the first quarter. Quotient Investors LLC now owns 17,600 shares of the software maker’s stock valued at $708,000 after buying an additional 300 shares during the period. TD Asset Management Inc. boosted its stake in shares of BroadSoft by 2.8% in the first quarter. TD Asset Management Inc. now owns 14,500 shares of the software maker’s stock valued at $583,000 after buying an additional 400 shares during the period. Tealwood Asset Management Inc. boosted its stake in shares of BroadSoft by 0.7% in the second quarter. Tealwood Asset Management Inc. now owns 66,260 shares of the software maker’s stock valued at $2,852,000 after buying an additional 435 shares during the period. Finally, US Bancorp DE boosted its stake 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 valued at $284,000 after buying an additional 579 shares during the period.
BroadSoft, Inc. (BSFT) opened at 43.60 on Friday. The company’s market capitalization is $1.35 billion. The firm has a 50-day moving average of $43.25 and a 200 day moving average of $41.20. BroadSoft, Inc. has a 12-month low of $33.85 and a 12-month high of $48.40.
BroadSoft (NASDAQ:BSFT) last released its quarterly earnings data on Monday, August 7th. The software maker reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.53. The business had revenue of $88.80 million for the quarter, compared to the consensus estimate of $86.63 million. BroadSoft had a negative net margin of 2.34% and a positive return on equity of 4.72%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. Analysts expect that BroadSoft, Inc. will post $2.27 EPS for the current fiscal year.
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Several brokerages have weighed in on BSFT. Northland Securities reiterated a “hold” rating and issued a $42.00 price objective on shares of BroadSoft in a research note on Friday, July 21st. Dougherty & Co dropped their price objective on shares of BroadSoft from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, May 2nd. Robert W. Baird lifted their price objective on shares of BroadSoft from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday. William Blair reiterated a “buy” rating on shares of BroadSoft in a research note on Wednesday. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of BroadSoft in a research note on Monday, June 26th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $47.00.
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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