BroadSoft, Inc. (BSFT) Stock Rating Upgraded by Zacks Investment Research

BroadSoft, Inc. (NASDAQ:BSFT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday. The firm presently has a $63.00 price target on the software maker’s stock. Zacks Investment Research‘s price objective points to a potential upside of 17.76% from the stock’s previous close.

According to Zacks, “BroadSoft, Inc. is engaged in providing software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their Internet protocol-based, or IP-based, networks. The Company’s software, BroadWorks, enables its service provider customers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications, such as hosted IP private branch exchanges, or PBXs, video calling, unified communications, or UC, collaboration and converged mobile and fixed-line services. BroadSoft, Inc. is headquartered in Gaithersburg, Maryland. “

Several other equities research analysts also recently weighed in on BSFT. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $50.00 price target (up from $46.00) on shares of BroadSoft in a research note on Monday, June 19th. Jefferies Group LLC reiterated a “buy” rating and set a $55.00 price objective on shares of BroadSoft in a report on Monday, June 26th. ValuEngine upgraded shares of BroadSoft from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. BidaskClub upgraded shares of BroadSoft from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Finally, Cowen and Company reiterated an “outperform” rating and set a $51.00 price objective on shares of BroadSoft in a report on Wednesday, June 28th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. BroadSoft has an average rating of “Buy” and an average target price of $50.00.

BroadSoft (NASDAQ BSFT) opened at 53.50 on Monday. The firm’s market capitalization is $1.66 billion. BroadSoft has a 52 week low of $33.85 and a 52 week high of $54.70. The company has a 50-day moving average of $49.48 and a 200-day moving average of $42.95.

BroadSoft (NASDAQ:BSFT) last posted its quarterly earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $86.63 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts forecast that BroadSoft will post $2.27 earnings per share for the current fiscal year.

WARNING: “BroadSoft, Inc. (BSFT) Stock Rating Upgraded by Zacks Investment Research” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this report can be read at https://ledgergazette.com/2017/10/11/broadsoft-inc-bsft-stock-rating-upgraded-by-zacks-investment-research.html.

In related news, Director John D. Jr. Markley sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total transaction of $144,000.00. Following the transaction, the director now directly owns 22,839 shares in the company, valued at $1,096,272. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Hoffpauir sold 4,448 shares of the business’s 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,688 shares of company stock worth $1,458,384. 1.50% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new position in BroadSoft during the first quarter worth about $102,000. Eqis Capital Management Inc. purchased a new position in BroadSoft during the third quarter worth about $208,000. Pitcairn Co. purchased a new position in BroadSoft during the second quarter worth about $222,000. US Bancorp DE boosted 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 last quarter. Finally, Wrapmanager Inc. purchased a new position in BroadSoft during the second quarter worth about $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 o

According to Zacks, “BroadSoft, Inc. is engaged in providing software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their Internet protocol-based, or IP-based, networks. The Company’s software, BroadWorks, enables its service provider customers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications, such as hosted IP private branch exchanges, or PBXs, video calling, unified communications, or UC, collaboration and converged mobile and fixed-line services. BroadSoft, Inc. is headquartered in Gaithersburg, Maryland. “

Several other equities research analysts also recently weighed in on BSFT. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $50.00 price target (up from $46.00) on shares of BroadSoft in a research note on Monday, June 19th. Jefferies Group LLC reiterated a “buy” rating and set a $55.00 price objective on shares of BroadSoft in a report on Monday, June 26th. ValuEngine upgraded shares of BroadSoft from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. BidaskClub upgraded shares of BroadSoft from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Finally, Cowen and Company reiterated an “outperform” rating and set a $51.00 price objective on shares of BroadSoft in a report on Wednesday, June 28th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. BroadSoft has an average rating of “Buy” and an average target price of $50.00.

BroadSoft (NASDAQ BSFT) opened at 53.50 on Monday. The firm’s market capitalization is $1.66 billion. BroadSoft has a 52 week low of $33.85 and a 52 week high of $54.70. The company has a 50-day moving average of $49.48 and a 200-day moving average of $42.95.

BroadSoft (NASDAQ:BSFT) last posted its quarterly earnings results on Monday, August 7th. The software maker reported $0.40 earnings per share for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $86.63 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts forecast that BroadSoft will post $2.27 earnings per share for the current fiscal year.

WARNING: “BroadSoft, Inc. (BSFT) Stock Rating Upgraded by Zacks Investment Research” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this report can be read at https://ledgergazette.com/2017/10/11/broadsoft-inc-bsft-stock-rating-upgraded-by-zacks-investment-research.html.

In related news, Director John D. Jr. Markley sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total transaction of $144,000.00. Following the transaction, the director now directly owns 22,839 shares in the company, valued at $1,096,272. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Hoffpauir sold 4,448 shares of the business’s 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,688 shares of company stock worth $1,458,384. 1.50% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new position in BroadSoft during the first quarter worth about $102,000. Eqis Capital Management Inc. purchased a new position in BroadSoft during the third quarter worth about $208,000. Pitcairn Co. purchased a new position in BroadSoft during the second quarter worth about $222,000. US Bancorp DE boosted 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 last quarter. Finally, Wrapmanager Inc. purchased a new position in BroadSoft during the second quarter worth about $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.

Analyst Recommendations for BroadSoft (NASDAQ:BSFT)

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