Chicago Capital Management LLC bought a new position in shares of BroadSoft Inc (NASDAQ:BSFT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 337,710 shares of the software maker’s stock, valued at approximately $18,540,000. BroadSoft comprises about 11.1% of Chicago Capital Management LLC’s holdings, making the stock its 4th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BSFT. Southpoint Capital Advisors LP bought a new position in BroadSoft during the second quarter worth $59,979,000. Legion Partners Asset Management LLC grew its holdings in BroadSoft by 166.0% in the third quarter. Legion Partners Asset Management LLC now owns 929,226 shares of the software maker’s stock worth $46,740,000 after purchasing an additional 579,835 shares during the period. Bank of Montreal Can grew its holdings in BroadSoft by 229,591.8% in the fourth quarter. Bank of Montreal Can now owns 225,098 shares of the software maker’s stock worth $12,358,000 after purchasing an additional 225,000 shares during the period. Pier Capital LLC acquired a new stake in BroadSoft in the third quarter worth $6,194,000. Finally, Brown Advisory Inc. grew its holdings in BroadSoft by 6.2% in the third quarter. Brown Advisory Inc. now owns 1,722,896 shares of the software maker’s stock worth $86,662,000 after purchasing an additional 100,797 shares during the period.

BSFT has been the subject of a number of research reports. Northland Securities restated a “hold” rating and issued a $42.00 price target on shares of BroadSoft in a report on Wednesday, October 4th. William Blair restated an “outperform” rating on shares of BroadSoft in a report on Thursday, October 5th. Zacks Investment Research upgraded shares of BroadSoft from a “hold” rating to a “strong-buy” rating and set a $63.00 price target for the company in a report on Monday, October 9th. Robert W. Baird restated a “hold” rating and issued a $45.00 price target on shares of BroadSoft in a report on Friday, October 20th. Finally, Needham & Company LLC cut shares of BroadSoft from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $50.40.

In other news, insider Scott D. Hoffpauir sold 4,448 shares of BroadSoft stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $54.66, for a total transaction of $243,127.68. Following the completion of the transaction, the insider now directly owns 83,945 shares in the company, valued at $4,588,433.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 13,344 shares of company stock valued at $730,317 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Shares of BroadSoft Inc (NASDAQ BSFT) traded up $0.02 during midday trading on Wednesday, hitting $54.92. 880,121 shares of the stock were exchanged, compared to its average volume of 839,838. The firm has a market capitalization of $1,744.50, a PE ratio of 156.86, a P/E/G ratio of 3.31 and a beta of 0.93. BroadSoft Inc has a 52-week low of $33.85 and a 52-week high of $55.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.64 and a quick ratio of 2.64.

BroadSoft (NASDAQ:BSFT) last issued its quarterly earnings data on Monday, November 6th. The software maker reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. The firm had revenue of $91.47 million during the quarter, compared to analysts’ expectations of $87.92 million. BroadSoft had a negative net margin of 2.86% and a positive return on equity of 3.78%. research analysts forecast that BroadSoft Inc will post 0.83 EPS for the current year.

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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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Institutional Ownership by Quarter for BroadSoft (NASDAQ:BSFT)

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