Insider Selling: BroadSoft, Inc. (BSFT) Insider Sells 4,448 Shares of Stock
BroadSoft, Inc. (NASDAQ:BSFT) insider Scott D. Hoffpauir sold 4,448 shares of BroadSoft stock in a transaction on Monday, September 18th. The shares were sold at an average price of $51.50, for a total transaction of $229,072.00. Following the completion of the transaction, the insider now owns 101,054 shares in the company, valued at $5,204,281. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
BroadSoft, Inc. (NASDAQ:BSFT) traded down 1.93% during midday trading on Tuesday, reaching $50.75. The company’s stock had a trading volume of 533,279 shares. BroadSoft, Inc. has a 1-year low of $33.85 and a 1-year high of $52.15. The company’s 50-day moving average price is $46.07 and its 200-day moving average price is $41.90. The company’s market capitalization is $1.57 billion.
BroadSoft (NASDAQ:BSFT) last released its quarterly earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $86.63 million. During the same quarter in the prior year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts predict that BroadSoft, Inc. will post $2.27 earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Cipher Capital LP bought a new position in shares of BroadSoft in the second quarter worth $1,856,000. Renaissance Group LLC grew its stake in shares of BroadSoft by 16.9% in the second quarter. Renaissance Group LLC now owns 8,285 shares of the software maker’s stock worth $357,000 after purchasing an additional 1,196 shares in the last quarter. Kennedy Capital Management Inc. bought a new position in shares of BroadSoft in the second quarter worth $10,371,000. OLD National Bancorp IN bought a new position in shares of BroadSoft in the second quarter worth $382,000. Finally, Scout Investments Inc. grew its stake in shares of BroadSoft by 3.9% in the second quarter. Scout Investments Inc. now owns 149,950 shares of the software maker’s stock worth $6,455,000 after purchasing an additional 5,650 shares in the last quarter.
A number of equities analysts recently weighed in on BSFT shares. BidaskClub lowered shares of BroadSoft from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of BroadSoft in a research report on Monday, June 26th. Cowen and Company reiterated a “buy” rating and issued a $51.00 price objective on shares of BroadSoft in a research report on Friday, July 28th. William Blair reiterated a “buy” rating on shares of BroadSoft in a research report on Wednesday, August 9th. Finally, Needham & Company LLC lifted their price objective on shares of BroadSoft from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $48.38.
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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