Pitcairn Co. purchased a new stake in BroadSoft, Inc. (NASDAQ:BSFT) during the second quarter, Holdings Channel reports. The firm purchased 5,152 shares of the software maker’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Atria Investments LLC raised its position in shares of BroadSoft by 3.7% in the first quarter. Atria Investments LLC now owns 6,384 shares of the software maker’s stock valued at $257,000 after buying an additional 227 shares during the period. TD Asset Management Inc. raised its position in 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. Sei Investments Co. raised its position in BroadSoft by 1.1% in the second quarter. Sei Investments Co. now owns 36,486 shares of the software maker’s stock worth $1,571,000 after buying an additional 410 shares during the last quarter. Tealwood Asset Management Inc. raised its position in BroadSoft by 0.7% in the second quarter. Tealwood Asset Management Inc. now owns 66,260 shares of the software maker’s stock worth $2,852,000 after buying an additional 435 shares during the last quarter. Finally, US Bancorp DE raised its position in BroadSoft by 9.6% in the second quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock worth $284,000 after buying an additional 579 shares during the last quarter.

Shares of BroadSoft, Inc. (BSFT) opened at 44.45 on Friday. The firm’s market capitalization is $1.38 billion. The firm has a 50-day moving average of $43.33 and a 200 day moving average of $41.25. BroadSoft, Inc. has a 52-week low of $33.85 and a 52-week high of $48.40.

BroadSoft (NASDAQ:BSFT) last posted 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 negative net margin of 2.34% and a positive return on equity of 4.72%. The firm had revenue of $88.80 million for the quarter, compared to analyst estimates of $86.63 million. During the same period in the prior year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts predict that BroadSoft, Inc. will post $2.27 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Pitcairn Co. Purchases New Position in BroadSoft, Inc. (BSFT)” was posted by Watch List News and is the property of of Watch List News. If you are reading this story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this story can be viewed at https://www.watchlistnews.com/pitcairn-co-purchases-new-position-in-broadsoft-inc-bsft/1502224.html.

A number of research firms recently issued reports on BSFT. Robert W. Baird raised their target price on shares of BroadSoft from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, August 8th. William Blair reiterated a “buy” rating on shares of BroadSoft in a research note on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 target price on shares of BroadSoft in a research note on Tuesday, July 25th. ValuEngine upgraded shares of BroadSoft from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, BidaskClub lowered shares of BroadSoft from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus 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.

Want to see what other hedge funds are holding BSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BroadSoft, Inc. (NASDAQ:BSFT).

Institutional Ownership by Quarter for BroadSoft (NASDAQ:BSFT)

Receive News & Ratings for BroadSoft Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BroadSoft Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.