AHL Partners LLP lifted its position in shares of BroadSoft Inc (NASDAQ:BSFT) by 72.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,105 shares of the software maker’s stock after buying an additional 7,180 shares during the period. AHL Partners LLP owned approximately 0.06% of BroadSoft worth $736,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Sei Investments Co. boosted its position in BroadSoft by 1.1% during the 2nd quarter. Sei Investments Co. now owns 36,486 shares of the software maker’s stock worth $1,571,000 after purchasing an additional 410 shares during the period. Tealwood Asset Management Inc. boosted its position in BroadSoft by 0.7% during the 2nd quarter. Tealwood Asset Management Inc. now owns 66,260 shares of the software maker’s stock worth $2,852,000 after purchasing an additional 435 shares during the period. US Bancorp DE boosted its position in BroadSoft by 9.6% during the 2nd quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock worth $284,000 after purchasing an additional 579 shares during the period. Teachers Advisors LLC boosted its position in BroadSoft by 1.2% during the 1st quarter. Teachers Advisors LLC now owns 49,286 shares of the software maker’s stock worth $1,981,000 after purchasing an additional 581 shares during the period. Finally, Rhumbline Advisers boosted its position in BroadSoft by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 35,386 shares of the software maker’s stock worth $1,523,000 after purchasing an additional 894 shares during the period.
A number of equities analysts have weighed in on BSFT shares. Jefferies Group LLC reissued a “buy” rating and issued a $55.00 price objective on shares of BroadSoft in a research report on Thursday, September 28th. Needham & Company LLC upped their price objective on shares of BroadSoft from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. Cowen and Company reissued a “buy” rating and issued a $51.00 price objective on shares of BroadSoft in a research report on Friday, July 28th. William Blair reissued a “buy” rating on shares of BroadSoft in a research report on Wednesday, August 9th. Finally, BidaskClub cut shares of BroadSoft from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. BroadSoft has a consensus rating of “Hold” and an average target price of $50.40.
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Shares of BroadSoft Inc (NASDAQ:BSFT) traded up 0.09% during midday trading on Friday, hitting $54.90. 2,008,229 shares of the company’s stock traded hands. The firm’s market capitalization is $1.70 billion. BroadSoft Inc has a 1-year low of $33.85 and a 1-year high of $55.00. The company has a 50 day moving average price of $51.91 and a 200 day moving average price of $44.06.
BroadSoft (NASDAQ:BSFT) last released its quarterly earnings data on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 3.66% and a negative net margin of 3.36%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. Equities analysts anticipate that BroadSoft Inc will post $2.27 earnings per share for the current year.
In related news, insider Scott D. Hoffpauir sold 13,344 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $48.00, for a total transaction of $640,512.00. Following the completion of the transaction, the insider now owns 114,398 shares in the company, valued at approximately $5,491,104. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott D. Hoffpauir sold 4,448 shares of the business’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $52.89, for a total value of $235,254.72. Following the transaction, the insider now owns 94,656 shares of the company’s stock, valued at approximately $5,006,355.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,136 shares of company stock valued at $1,693,639. Company insiders own 1.50% of the company’s stock.
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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