Brokerages Set BroadSoft, Inc. (BSFT) Price Target at $49.00
BroadSoft, Inc. (NASDAQ:BSFT) has been assigned a consensus rating of “Hold” from the thirteen brokerages that are covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $49.00.
Several brokerages have recently weighed in on BSFT. Zacks Investment Research cut BroadSoft from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Raymond James Financial, Inc. restated an “outperform” rating and issued a $55.00 price objective on shares of BroadSoft in a report on Tuesday, October 24th. Dougherty & Co cut BroadSoft from a “buy” rating to a “neutral” rating in a report on Tuesday, October 24th. Needham & Company LLC cut BroadSoft from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, William Blair restated an “outperform” rating on shares of BroadSoft in a report on Thursday, October 5th.
In related news, insider Scott D. Hoffpauir sold 8,896 shares of BroadSoft stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $50.00, for a total transaction of $444,800.00. Following the completion of the transaction, the insider now owns 105,502 shares in the company, valued at $5,275,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Hoffpauir sold 4,448 shares of BroadSoft stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $52.89, for a total value of $235,254.72. Following the transaction, the insider now owns 94,656 shares of the company’s stock, valued at approximately $5,006,355.84. The disclosure for this sale can be found here. Insiders have sold 34,136 shares of company stock valued at $1,693,639 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of BSFT. Eqis Capital Management Inc. bought a new position in BroadSoft during the third quarter worth about $208,000. Pitcairn Co. bought a new position in BroadSoft during the second quarter worth about $222,000. US Bancorp DE grew its holdings in 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 during the period. Wrapmanager Inc. acquired a new stake in BroadSoft during the second quarter worth approximately $300,000. Finally, Ramsey Quantitative Systems acquired a new stake in BroadSoft during the second quarter worth approximately $349,000.
Shares of BroadSoft (NASDAQ BSFT) traded up $0.05 during midday trading on Thursday, hitting $54.95. The stock had a trading volume of 1,405,984 shares, compared to its average volume of 1,832,818. The company has a market cap of $1,735.54, a PE ratio of 134.02, a price-to-earnings-growth ratio of 4.39 and a beta of 0.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.94 and a quick ratio of 3.94. BroadSoft has a 12 month low of $33.85 and a 12 month high of $55.00.
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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