Gamco Investors INC. ET AL acquired a new stake in shares of BroadSoft Inc (NASDAQ:BSFT) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 79,650 shares of the software maker’s stock, valued at approximately $4,373,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BSFT. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of BroadSoft during the 3rd quarter valued at about $130,000. Eqis Capital Management Inc. purchased a new position in BroadSoft in the 3rd quarter worth approximately $208,000. Omni Partners LLP purchased a new position in BroadSoft in the 4th quarter worth approximately $259,000. Dynamic Technology Lab Private Ltd purchased a new position in BroadSoft in the 3rd quarter worth approximately $387,000. Finally, Legal & General Group Plc increased its stake in BroadSoft by 53.8% in the 3rd quarter. Legal & General Group Plc now owns 14,623 shares of the software maker’s stock worth $735,000 after purchasing an additional 5,117 shares during the period.

BroadSoft Inc (BSFT) opened at $54.90 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.64 and a current ratio of 2.64. BroadSoft Inc has a 12 month low of $33.85 and a 12 month high of $55.05. The stock has a market capitalization of $1,740.00, a P/E ratio of -152.50 and a beta of 0.97.

In other news, insider Scott D. Hoffpauir sold 4,448 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $54.96, for a total transaction of $244,462.08. Following the transaction, the insider now directly owns 77,991 shares of the company’s stock, valued at $4,286,385.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 13,344 shares of company stock worth $730,317 over the last three months. Insiders own 1.50% of the company’s stock.

BSFT has been the topic of a number of analyst reports. Zacks Investment Research raised BroadSoft from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Tuesday, October 17th. Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 price target on shares of BroadSoft in a research note on Friday, October 20th. Needham & Company LLC cut BroadSoft from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $55.00 price target on shares of BroadSoft in a research note on Tuesday, October 24th. Finally, Dougherty & Co cut BroadSoft from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $50.40.

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BroadSoft 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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Institutional Ownership by Quarter for BroadSoft (NASDAQ:BSFT)

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