BidaskClub lowered shares of BroadSoft (NASDAQ:BSFT) from a buy rating to a hold rating in a research report released on Thursday morning.

Several other brokerages have also recently commented on BSFT. Dougherty & Co cut shares of BroadSoft from a buy rating to a neutral rating in a report on Tuesday, October 24th. Zacks Investment Research lowered shares of BroadSoft from a strong-buy rating to a hold rating in a research report on Tuesday, October 10th. Raymond James Financial lowered shares of BroadSoft from an outperform rating to a market perform rating in a research report on Wednesday, November 15th. Needham & Company LLC increased their price target on shares of BroadSoft from $48.00 to $55.00 and gave the stock a buy rating in a research report on Wednesday, September 6th. Finally, ValuEngine raised shares of BroadSoft from a sell rating to a hold rating in a research report on Friday, September 1st. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. BroadSoft presently has an average rating of Hold and an average target price of $50.40.

Shares of BroadSoft (BSFT) traded up $0.13 on Thursday, hitting $54.80. 714,600 shares of the company’s stock traded hands, compared to its average volume of 598,646. BroadSoft has a one year low of $33.85 and a one year high of $55.05. The firm has a market capitalization of $1,734.39, a PE ratio of 156.57, a price-to-earnings-growth ratio of 4.57 and a beta of 0.92. 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 BroadSoft news, insider Scott D. Hoffpauir sold 4,448 shares of BroadSoft stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $52.89, for a total transaction of $235,254.72. Following the sale, the insider now owns 94,656 shares in the company, valued at $5,006,355.84. The transaction 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 worth $707,054 in the last quarter. Corporate insiders own 1.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Capital Management Holdings LLC. bought a new stake in BroadSoft during the 3rd quarter worth about $130,000. Eqis Capital Management Inc. acquired a new position in shares of BroadSoft during the 3rd quarter worth about $208,000. Pitcairn Co. acquired a new position in shares of BroadSoft during the 2nd quarter worth about $222,000. US Bancorp DE grew its position in shares of BroadSoft by 9.6% during the 2nd quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock worth $284,000 after buying an additional 579 shares during the period. Finally, Wrapmanager Inc. acquired a new position in shares of BroadSoft during the 2nd quarter worth about $300,000.

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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.

Analyst Recommendations for BroadSoft (NASDAQ:BSFT)

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