BroadSoft, Inc. (NASDAQ:BSFT) Stake Lowered by Legal & General Group Plc
Legal & General Group Plc decreased its position in BroadSoft, Inc. (NASDAQ:BSFT) by 2.0% during the first quarter, Holdings Channel reports. The firm owned 7,041 shares of the software maker’s stock after selling 142 shares during the period. Legal & General Group Plc’s holdings in BroadSoft were worth $283,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Atria Investments LLC boosted its position in BroadSoft by 3.7% in the first quarter. Atria Investments LLC now owns 6,384 shares of the software maker’s stock worth $257,000 after buying an additional 227 shares during the period. Quotient Investors LLC boosted its stake in shares of BroadSoft by 1.7% in the first quarter. Quotient Investors LLC now owns 17,600 shares of the software maker’s stock worth $708,000 after buying an additional 300 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of BroadSoft by 2.8% in the first quarter. TD Asset Management Inc. now owns 14,500 shares of the software maker’s stock worth $583,000 after buying an additional 400 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of BroadSoft by 1.2% in the first quarter. Teachers Advisors LLC now owns 49,286 shares of the software maker’s stock worth $1,981,000 after buying an additional 581 shares during the last quarter. Finally, Wealthsource Partners LLC boosted its stake in shares of BroadSoft by 13.2% in the first quarter. Wealthsource Partners LLC now owns 6,285 shares of the software maker’s stock worth $253,000 after buying an additional 735 shares during the last quarter.
BroadSoft, Inc. (NASDAQ BSFT) opened at 43.825 on Thursday. BroadSoft, Inc. has a one year low of $33.85 and a one year high of $48.40. The stock’s market capitalization is $1.36 billion. The stock’s 50 day moving average is $43.23 and its 200 day moving average is $41.19.
BroadSoft (NASDAQ:BSFT) last released its earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $88.80 million for the quarter, compared to analysts’ expectations of $86.63 million. During the same quarter in the previous year, the business posted $0.49 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts forecast that BroadSoft, Inc. will post $2.27 EPS for the current year.
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A number of equities research analysts recently commented on BSFT shares. Wells Fargo & Company reissued an “outperform” rating and issued a $50.00 price objective (up from $46.00) on shares of BroadSoft in a research note on Monday, June 19th. William Blair reissued a “buy” rating on shares of BroadSoft in a research note on Thursday, May 4th. Dougherty & Co lowered their price objective on shares of BroadSoft from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, May 2nd. Barclays PLC started coverage on shares of BroadSoft in a research note on Friday, July 7th. They issued an “equal weight” rating and a $45.00 price objective on the stock. Finally, Northland Securities reissued a “hold” rating and issued a $42.00 price objective on shares of BroadSoft in a research note on Friday, July 21st. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. BroadSoft has an average rating of “Buy” and an average price target of $47.00.
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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