BroadSoft, Inc. (NASDAQ:BSFT) insider Scott D. Hoffpauir sold 4,448 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $51.50, for a total transaction of $229,072.00. Following the transaction, the insider now owns 101,054 shares in the company, valued at $5,204,281. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of BroadSoft, Inc. (NASDAQ:BSFT) opened at 50.75 on Wednesday. The stock’s market capitalization is $1.57 billion. BroadSoft, Inc. has a 52-week low of $33.85 and a 52-week high of $52.15. The firm’s 50 day moving average is $46.26 and its 200 day moving average is $41.96.
BroadSoft (NASDAQ:BSFT) last announced its quarterly earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.53. The firm had revenue of $88.80 million during the quarter, compared to the consensus estimate of $86.63 million. BroadSoft had a positive return on equity of 4.72% and a negative net margin of 2.34%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 earnings per share. Equities analysts expect that BroadSoft, Inc. will post $2.27 earnings per share for the current year.
BSFT has been the topic of several recent research reports. Needham & Company LLC increased their target price on shares of BroadSoft from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, September 6th. BidaskClub cut shares of BroadSoft from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. ValuEngine upgraded shares of BroadSoft from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating and set a $55.00 target price on shares of BroadSoft in a report on Monday, June 26th. Finally, Cowen and Company reiterated a “buy” rating and set a $51.00 target price on shares of BroadSoft in a report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $48.38.
Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. purchased a new stake in shares of BroadSoft during the first quarter worth approximately $102,000. Koch Industries Inc. purchased a new position in BroadSoft in the first quarter worth $220,000. Pitcairn Co. purchased a new position in BroadSoft in the second quarter worth $222,000. 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 acquiring an additional 579 shares in the last quarter. Finally, Wrapmanager Inc. purchased a new position in BroadSoft in the second quarter worth $300,000.
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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