Dennis Dourgarian Sells 2,600 Shares of BroadSoft Inc. (BSFT) Stock
BroadSoft Inc. (NASDAQ:BSFT) insider Dennis Dourgarian sold 2,600 shares of the company’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $45.40, for a total transaction of $118,040.00. Following the completion of the transaction, the insider now owns 30,035 shares of the company’s stock, valued at $1,363,589. The sale was disclosed in a filing with the SEC, which is available at this link.
Dennis Dourgarian also recently made the following trade(s):
- On Friday, September 9th, Dennis Dourgarian sold 2,802 shares of BroadSoft stock. The stock was sold at an average price of $45.65, for a total transaction of $127,911.30.
Shares of BroadSoft Inc. (NASDAQ:BSFT) opened at 44.84 on Monday. BroadSoft Inc. has a one year low of $26.99 and a one year high of $48.01. The stock’s 50 day moving average is $44.29 and its 200-day moving average is $41.67. The stock has a market cap of $1.34 billion, a P/E ratio of 329.71 and a beta of 1.46.
BroadSoft (NASDAQ:BSFT) last issued its earnings results on Monday, August 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.13. The firm earned $81.70 million during the quarter, compared to analyst estimates of $78.99 million. BroadSoft had a net margin of 0.79% and a return on equity of 11.07%. The business’s revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 earnings per share. On average, equities analysts forecast that BroadSoft Inc. will post $2.06 EPS for the current year.
BSFT has been the subject of several research reports. Jefferies Group upped their price objective on shares of BroadSoft from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Dougherty & Co increased their price target on shares of BroadSoft from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. William Blair reiterated an “outperform” rating on shares of BroadSoft in a research note on Tuesday, August 2nd. Finally, Raymond James Financial Inc. increased their price target on shares of BroadSoft from $45.00 to $51.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $45.00.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of BroadSoft by 22.1% in the second quarter. BlackRock Inc. now owns 2,511 shares of the company’s stock worth $103,000 after buying an additional 455 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in shares of BroadSoft during the second quarter worth about $135,000. Teacher Retirement System of Texas raised its stake in shares of BroadSoft by 20.4% in the second quarter. Teacher Retirement System of Texas now owns 4,053 shares of the company’s stock worth $166,000 after buying an additional 686 shares in the last quarter. Legal & General Group Plc raised its stake in shares of BroadSoft by 11.0% in the first quarter. Legal & General Group Plc now owns 4,690 shares of the company’s stock worth $183,000 after buying an additional 463 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of BroadSoft during the second quarter worth about $199,000.
BroadSoft, Inc is a provider of software and services that enable telecommunications service providers to deliver hosted, cloud-based Unified Communications (UC) to their enterprise customers. The Company offers service providers two deployment options, software and software-as-a-service (SaaS), to enable them to offer UC services to their enterprise customers.
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