Paloma Partners Management Co purchased a new stake in shares of BroadSoft Inc (NASDAQ:BSFT) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 55,400 shares of the software maker’s stock, valued at approximately $3,041,000. Paloma Partners Management Co owned approximately 0.17% of BroadSoft at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of BroadSoft by 3.0% during the fourth quarter. BlackRock Inc. now owns 2,226,250 shares of the software maker’s stock valued at $122,221,000 after buying an additional 65,820 shares during the period. Brown Advisory Inc. grew its holdings in shares of BroadSoft by 2.9% during the fourth quarter. Brown Advisory Inc. now owns 1,773,573 shares of the software maker’s stock valued at $97,369,000 after buying an additional 50,677 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of BroadSoft by 101.6% during the fourth quarter. Deutsche Bank AG now owns 1,731,146 shares of the software maker’s stock valued at $95,037,000 after buying an additional 872,366 shares during the last quarter. Alpine Associates Management Inc. bought a new position in BroadSoft during the fourth quarter valued at approximately $67,743,000. Finally, Legion Partners Asset Management LLC lifted its position in BroadSoft by 166.0% during the third quarter. Legion Partners Asset Management LLC now owns 929,226 shares of the software maker’s stock valued at $46,740,000 after purchasing an additional 579,835 shares during the period.
BroadSoft Inc (NASDAQ BSFT) traded up $0.05 during trading hours on Tuesday, hitting $54.95. 19,000 shares of the stock traded hands, compared to its average volume of 821,017. The company has a market cap of $1,740.00, a price-to-earnings ratio of -152.64 and a beta of 0.97. BroadSoft Inc has a twelve month low of $33.85 and a twelve month high of $55.05. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.64 and a current ratio of 2.64.
In other news, insider Scott D. Hoffpauir sold 4,448 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were 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 of the company’s stock, valued at approximately $4,286,385.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.
Several research analysts have weighed in on the stock. BidaskClub downgraded shares of BroadSoft from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 10th. Zacks Investment Research upgraded shares of BroadSoft from a “sell” rating to a “hold” rating in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus 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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