Paloma Partners Management Co purchased a new stake in BroadSoft Inc (NASDAQ:BSFT) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 55,400 shares of the software maker’s stock, valued at approximately $3,041,000.
Other institutional investors have also made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of BroadSoft in the 3rd quarter valued at $130,000. Amalgamated Bank acquired a new position in shares of BroadSoft in the 4th quarter valued at $237,000. Omni Partners LLP acquired a new position in shares of BroadSoft in the 4th quarter valued at $259,000. DLD Asset Management LP acquired a new position in shares of BroadSoft in the 4th quarter valued at $275,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of BroadSoft in the 3rd quarter valued at $387,000.
BroadSoft Inc (BSFT) opened at $54.95 on Tuesday. BroadSoft Inc has a 12 month low of $33.85 and a 12 month high of $55.05. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $1,740.00, a PE ratio of -152.64 and a beta of 0.97.
In related news, insider Scott D. Hoffpauir sold 4,448 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $54.96, for a total transaction of $244,462.08. Following the transaction, the insider now owns 77,991 shares of the company’s stock, valued at approximately $4,286,385.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.
Several research firms recently issued reports on BSFT. BidaskClub lowered BroadSoft from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Zacks Investment Research lowered BroadSoft from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Northland Securities reissued a “hold” rating and set a $42.00 target price on shares of BroadSoft in a research note on Sunday, November 19th. Finally, Raymond James Financial lowered BroadSoft from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $50.40.
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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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