FIL Ltd increased its stake in BroadSoft, Inc. (NASDAQ:BSFT) by 43.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 459,448 shares of the company’s stock after buying an additional 139,345 shares during the period. FIL Ltd’s holdings in BroadSoft were worth $18,952,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BSFT. Cortina Asset Management LLC raised its position in shares of BroadSoft by 23.4% in the fourth quarter. Cortina Asset Management LLC now owns 693,811 shares of the company’s stock valued at $28,620,000 after buying an additional 131,748 shares during the period. Renaissance Group LLC raised its position in shares of BroadSoft by 2.1% in the fourth quarter. Renaissance Group LLC now owns 7,267 shares of the company’s stock valued at $300,000 after buying an additional 147 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of BroadSoft by 651.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 75,913 shares of the company’s stock valued at $3,131,000 after buying an additional 65,808 shares during the period. State Street Corp raised its position in shares of BroadSoft by 4.9% in the fourth quarter. State Street Corp now owns 534,017 shares of the company’s stock valued at $22,033,000 after buying an additional 24,877 shares during the period. Finally, Cadence Capital Management LLC raised its position in shares of BroadSoft by 2.8% in the fourth quarter. Cadence Capital Management LLC now owns 26,611 shares of the company’s stock valued at $1,098,000 after buying an additional 720 shares during the period.

Institutional Ownership by Quarter for BroadSoft (NASDAQ:BSFT)

Shares of BroadSoft, Inc. (NASDAQ:BSFT) traded up 0.81% during mid-day trading on Friday, hitting $43.65. 41,615 shares of the stock traded hands. BroadSoft, Inc. has a one year low of $27.91 and a one year high of $48.40. The stock has a 50 day moving average price of $42.53 and a 200-day moving average price of $43.33. The company has a market cap of $1.32 billion, a P/E ratio of 196.62 and a beta of 1.67.

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Several brokerages have weighed in on BSFT. Needham & Company LLC reaffirmed a “buy” rating and set a $47.00 target price on shares of BroadSoft in a research note on Wednesday, December 7th. William Blair reissued a “buy” rating on shares of BroadSoft in a research report on Wednesday, October 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. BroadSoft presently has a consensus rating of “Buy” and an average target price of $45.29.

In other news, insider Taher G. Behbehani sold 4,188 shares of BroadSoft stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $41.17, for a total transaction of $172,419.96. Following the completion of the transaction, the insider now owns 50,141 shares of the company’s stock, valued at approximately $2,064,304.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company’s stock.

About BroadSoft

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.

5 Day Chart for NASDAQ:BSFT

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