Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in BroadSoft Inc (NASDAQ:BSFT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 152,255 shares of the software maker’s stock, valued at approximately $8,359,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned about 0.48% of BroadSoft as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of BroadSoft in the 3rd quarter worth $130,000. Amalgamated Bank acquired a new position in shares of BroadSoft in the 4th quarter worth $237,000. Omni Partners LLP acquired a new position in shares of BroadSoft in the 4th quarter worth $259,000. DLD Asset Management LP purchased a new position in shares of BroadSoft during the fourth quarter valued at $275,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of BroadSoft during the third quarter valued at $387,000.
A number of research analysts have recently weighed in on the company. BidaskClub downgraded BroadSoft from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Zacks Investment Research downgraded BroadSoft from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. BroadSoft presently has an average rating of “Hold” and an average target price of $50.40.
In other news, insider Scott D. Hoffpauir sold 4,448 shares of BroadSoft stock in a transaction 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 owns 77,991 shares in the company, valued at $4,286,385.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.
BSFT stock opened at $54.95 on Friday. BroadSoft Inc has a twelve month low of $33.85 and a twelve month high of $55.05. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1,740.00, a price-to-earnings ratio of -152.64 and a beta of 0.97.
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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