BroadSoft, Inc. (BSFT) Sets New 12-Month High at $53.30
BroadSoft, Inc. (NASDAQ:BSFT)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $53.30 and last traded at $53.25, with a volume of 530,721 shares changing hands. The stock had previously closed at $51.40.
A number of analysts have recently commented on BSFT shares. Jefferies Group LLC restated a “buy” rating and set a $55.00 target price on shares of BroadSoft in a report on Tuesday, July 25th. William Blair reiterated a “buy” rating on shares of BroadSoft in a research note on Wednesday, August 9th. Cowen and Company reiterated an “outperform” rating and issued a $51.00 price target on shares of BroadSoft in a research note on Wednesday, June 28th. Northland Securities reissued a “hold” rating and set a $42.00 price target on shares of BroadSoft in a research report on Wednesday. Finally, BidaskClub cut shares of BroadSoft from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $48.38.
The company’s market capitalization is $1.66 billion. The firm’s 50-day moving average is $48.09 and its 200 day moving average is $42.53.
BroadSoft (NASDAQ:BSFT) last announced its earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.53. BroadSoft had a positive return on equity of 4.72% and a negative net margin of 2.34%. The business had revenue of $88.80 million for the quarter, compared to analysts’ expectations of $86.63 million. During the same quarter last year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts anticipate that BroadSoft, Inc. will post $2.27 EPS for the current fiscal year.
In related news, insider Scott D. Hoffpauir sold 13,344 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total transaction of $640,512.00. Following the completion of the sale, the insider now owns 114,398 shares of the company’s stock, valued at $5,491,104. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John D. Jr. Markley sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total transaction of $144,000.00. Following the sale, the director now directly owns 22,839 shares of the company’s stock, valued at approximately $1,096,272. The disclosure for this sale can be found here. Insiders have sold a total of 29,688 shares of company stock valued at $1,458,384 over the last 90 days. 1.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. purchased a new position in BroadSoft in the first quarter worth $102,000. Eqis Capital Management Inc. acquired a new position in shares of BroadSoft during the third quarter worth $208,000. Koch Industries Inc. acquired a new position in shares of BroadSoft during the first quarter worth $220,000. Pitcairn Co. acquired a new position in shares of BroadSoft during the second quarter worth $222,000. Finally, US Bancorp DE increased its position in shares of BroadSoft by 9.6% during the second quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock worth $284,000 after purchasing an additional 579 shares in the last quarter.
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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