Raymond James began coverage on shares of BroadSoft (NASDAQ:BSFT) in a research report report published on Monday, The Fly reports. The firm issued a strong-buy rating on the software maker’s stock.
Shares of NASDAQ:BSFT opened at $54.90 on Monday. BroadSoft 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.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in BroadSoft by 3.0% during the 4th quarter. BlackRock Inc. now owns 2,226,250 shares of the software maker’s stock valued at $122,221,000 after purchasing an additional 65,820 shares during the period. Brown Advisory Inc. boosted its stake in BroadSoft by 2.9% during the 4th quarter. Brown Advisory Inc. now owns 1,773,573 shares of the software maker’s stock valued at $97,369,000 after purchasing an additional 50,677 shares during the period. Deutsche Bank AG boosted its stake in BroadSoft by 101.6% during the 4th quarter. Deutsche Bank AG now owns 1,731,146 shares of the software maker’s stock valued at $95,037,000 after purchasing an additional 872,366 shares during the period. Alpine Associates Management Inc. acquired a new position in BroadSoft in the 4th quarter valued at approximately $67,743,000. Finally, Water Island Capital LLC acquired a new position in BroadSoft in the 4th quarter valued at approximately $44,532,000.
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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