BroadSoft Inc. (NASDAQ:BSFT) had its price objective raised by Jefferies Group from $52.00 to $55.00 in a research note released on Wednesday morning. Jefferies Group currently has a buy rating on the stock.
BSFT has been the subject of a number of other reports. William Blair restated a buy rating on shares of BroadSoft in a research report on Wednesday, June 15th. Raymond James Financial Inc. upped their price target on BroadSoft from $45.00 to $51.00 and gave the company a strong-buy rating in a research report on Tuesday, August 2nd. Finally, Dougherty & Co increased their price objective on BroadSoft from $47.00 to $50.00 and gave the stock a buy rating in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $45.43.
BroadSoft (NASDAQ:BSFT) opened at 46.74 on Wednesday. The stock has a market capitalization of $1.39 billion, a P/E ratio of 343.68 and a beta of 1.61. The stock has a 50 day moving average price of $45.38 and a 200-day moving average price of $42.63. BroadSoft has a one year low of $26.99 and a one year high of $48.01.
BroadSoft (NASDAQ:BSFT) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.13. The business earned $81.70 million during the quarter, compared to analyst estimates of $78.99 million. BroadSoft had a return on equity of 11.07% and a net margin of 0.79%. The business’s revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. Analysts anticipate that BroadSoft will post $2.06 earnings per share for the current year.
In other BroadSoft news, insider Dennis Dourgarian sold 2,600 shares of the company’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $45.40, for a total transaction of $118,040.00. Following the transaction, the insider now directly owns 30,035 shares in the company, valued at $1,363,589. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Taher G. Behbehani sold 4,273 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $45.89, for a total value of $196,087.97. Following the transaction, the insider now owns 62,574 shares in the company, valued at $2,871,520.86. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in BroadSoft by 3.0% in the second quarter. Vanguard Group Inc. now owns 2,135,790 shares of the company’s stock worth $87,631,000 after buying an additional 61,511 shares during the period. Fiera Capital Corp purchased a new position in BroadSoft during the second quarter worth approximately $51,478,000. BlackRock Fund Advisors boosted its position in BroadSoft by 1.6% in the second quarter. BlackRock Fund Advisors now owns 699,279 shares of the company’s stock worth $28,691,000 after buying an additional 11,096 shares during the period. Ranger Investment Management L.P. boosted its position in BroadSoft by 144.2% in the second quarter. Ranger Investment Management L.P. now owns 466,379 shares of the company’s stock worth $19,136,000 after buying an additional 275,386 shares during the period. Finally, Rice Hall James & Associates LLC purchased a new position in BroadSoft during the second quarter worth approximately $15,703,000.
BroadSoft, Inc is a provider of software and services that enable telecommunications service providers to deliver hosted, cloud-based Unified Communications (UC) to their enterprise customers. The Company offers service providers two deployment options, software and software-as-a-service (SaaS), to enable them to offer UC services to their enterprise customers.
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 MarketBeat.com's FREE daily email newsletter.