BidaskClub lowered shares of BroadSoft (NASDAQ:BSFT) from a sell rating to a strong sell rating in a research report report published on Wednesday.
Other equities research analysts have also issued research reports about the stock. Dougherty & Co lowered shares of BroadSoft from a buy rating to a neutral rating in a report on Tuesday, October 24th. Zacks Investment Research raised shares of BroadSoft from a hold rating to a buy rating and set a $62.00 price objective on the stock in a report on Wednesday, October 25th. Needham & Company LLC lowered shares of BroadSoft from a buy rating to a hold rating in a report on Tuesday, October 24th. Cowen lowered shares of BroadSoft from an outperform rating to a market perform rating in a report on Tuesday, November 7th. Finally, Northland Securities reissued a hold rating and set a $42.00 price objective on shares of BroadSoft in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $50.40.
Shares of BroadSoft (NASDAQ:BSFT) traded down $0.05 during trading on Wednesday, hitting $54.85. 451,356 shares of the company were exchanged, compared to its average volume of 815,542. The firm has a market cap of $1,742.91, a PE ratio of -152.36, a P/E/G ratio of 3.54 and a beta of 0.93. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.41. BroadSoft has a 1-year low of $33.85 and a 1-year high of $55.05.
BroadSoft (NASDAQ:BSFT) last announced its earnings results on Monday, November 6th. The software maker reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. BroadSoft had a negative net margin of 2.86% and a positive return on equity of 3.78%. equities analysts predict that BroadSoft will post 0.8 EPS for the current year.
In other news, insider Scott D. Hoffpauir sold 4,448 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 13,344 shares of company stock worth $721,110 in the last ninety days. Insiders own 1.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. bought a new position in shares of BroadSoft in the 3rd quarter valued at about $130,000. Eqis Capital Management Inc. bought a new position in shares of BroadSoft in the 3rd quarter valued at about $208,000. Ramsey Quantitative Systems bought a new position in shares of BroadSoft in the 2nd quarter valued at about $349,000. Dynamic Technology Lab Private Ltd bought a new position in shares of BroadSoft in the 3rd quarter valued at about $387,000. Finally, Legal & General Group Plc boosted its stake in shares of BroadSoft by 35.0% in the 2nd quarter. Legal & General Group Plc now owns 9,506 shares of the software maker’s stock valued at $409,000 after purchasing an additional 2,465 shares during the last quarter.
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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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