DLD Asset Management LP bought a new stake in shares of BroadSoft Inc (NASDAQ:BSFT) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 5,000 shares of the software maker’s stock, valued at approximately $275,000.
Several other institutional investors have also added to or reduced their stakes in BSFT. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of BroadSoft during the 3rd quarter valued at approximately $130,000. Omni Partners LLP purchased a new position in shares of BroadSoft during the 4th quarter valued at approximately $259,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of BroadSoft during the 3rd quarter valued at approximately $387,000. Teacher Retirement System of Texas purchased a new position in shares of BroadSoft during the 4th quarter valued at approximately $587,000. Finally, Legal & General Group Plc boosted its stake in shares of BroadSoft by 53.8% during the 3rd quarter. Legal & General Group Plc now owns 14,623 shares of the software maker’s stock valued at $735,000 after buying an additional 5,117 shares during the last quarter.
BSFT has been the subject of several research analyst reports. Raymond James Financial cut BroadSoft from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 15th. Zacks Investment Research upgraded BroadSoft from a “sell” rating to a “hold” rating in a research note on Monday, January 8th. BidaskClub cut BroadSoft from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 10th. Northland Securities reiterated a “hold” rating and set a $42.00 target price on shares of BroadSoft in a research note on Sunday, November 19th. Finally, Cowen cut BroadSoft from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $50.40.
In other BroadSoft news, insider Scott D. Hoffpauir sold 4,448 shares of the firm’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 sale, the insider now directly owns 77,991 shares in the company, valued at $4,286,385.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company’s stock.
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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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