Cubist Systematic Strategies LLC lessened its holdings in BroadSoft, Inc. (NASDAQ:BSFT) by 31.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,351 shares of the software maker’s stock after selling 2,011 shares during the period. Cubist Systematic Strategies LLC’s holdings in BroadSoft were worth $187,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Cipher Capital LP purchased a new position in shares of BroadSoft in the 2nd quarter valued at about $1,856,000. Renaissance Group LLC increased its stake in shares of BroadSoft by 16.9% in the 2nd quarter. Renaissance Group LLC now owns 8,285 shares of the software maker’s stock valued at $357,000 after purchasing an additional 1,196 shares in the last quarter. Kennedy Capital Management Inc. purchased a new position in shares of BroadSoft in the 2nd quarter valued at about $10,371,000. Legion Partners Asset Management LLC purchased a new position in shares of BroadSoft in the 2nd quarter valued at about $15,041,000. Finally, Vanguard Group Inc. increased its stake in shares of BroadSoft by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,533,349 shares of the software maker’s stock valued at $109,060,000 after purchasing an additional 92,265 shares in the last quarter.

In other news, insider Scott D. Hoffpauir sold 13,344 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $48.00, for a total value of $640,512.00. Following the completion of the sale, the insider now directly owns 114,398 shares in the company, valued at $5,491,104. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Hoffpauir sold 8,896 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $50.00, for a total value of $444,800.00. Following the completion of the sale, the insider now owns 105,502 shares of the company’s stock, valued at $5,275,100. The disclosure for this sale can be found here. Insiders sold 34,136 shares of company stock valued at $1,693,639 over the last 90 days. Company insiders own 1.50% of the company’s stock.

Shares of BroadSoft, Inc. (NASDAQ:BSFT) opened at $54.95 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.94 and a quick ratio of 3.94. The stock has a market capitalization of $1,735.54, a P/E ratio of 134.02, a PEG ratio of 4.39 and a beta of 0.96. BroadSoft, Inc. has a 52-week low of $33.85 and a 52-week high of $55.00.

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Several equities research analysts have commented on BSFT shares. Zacks Investment Research lowered BroadSoft from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $55.00 price objective on shares of BroadSoft in a research note on Tuesday, October 24th. Dougherty & Co lowered BroadSoft from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. Needham & Company LLC lowered BroadSoft from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, William Blair reiterated an “outperform” rating on shares of BroadSoft in a research note on Thursday, October 5th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $50.40.

About BroadSoft

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.

Institutional Ownership by Quarter for BroadSoft (NASDAQ:BSFT)

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