BroadSoft, Inc. (BSFT) Receives Consensus Rating of “Hold” from Brokerages

BroadSoft, Inc. (NASDAQ:BSFT) has been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $47.40.

A number of research firms recently commented on BSFT. Zacks Investment Research raised shares of BroadSoft from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Wednesday, October 25th. BidaskClub lowered shares of BroadSoft from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Cowen lowered shares of BroadSoft from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 7th. Northland Securities reissued a “hold” rating and issued a $42.00 target price on shares of BroadSoft in a report on Wednesday, October 4th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $55.00 target price on shares of BroadSoft in a report on Tuesday, October 24th.

In other news, insider Scott D. Hoffpauir sold 4,448 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $54.57, for a total value of $242,727.36. Following the sale, the insider now directly owns 90,208 shares in the company, valued at approximately $4,922,650.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 13,344 shares of company stock worth $721,110. 1.50% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of BSFT. Dimensional Fund Advisors LP increased its stake in shares of BroadSoft by 198.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 31,316 shares of the software maker’s stock valued at $1,259,000 after acquiring an additional 20,829 shares in the last quarter. Sei Investments Co. boosted its stake in shares of BroadSoft by 1.1% during the second quarter. Sei Investments Co. now owns 36,486 shares of the software maker’s stock valued at $1,571,000 after purchasing an additional 410 shares during the period. Rhumbline Advisers boosted its stake in shares of BroadSoft by 2.6% during the second quarter. Rhumbline Advisers now owns 35,386 shares of the software maker’s stock valued at $1,523,000 after purchasing an additional 894 shares during the period. Legal & General Group Plc boosted its stake in shares of BroadSoft by 35.0% during the second quarter. Legal & General Group Plc now owns 9,506 shares of the software maker’s stock valued at $409,000 after purchasing an additional 2,465 shares during the period. Finally, Renaissance Group LLC boosted its stake in shares of BroadSoft by 16.9% during the second quarter. Renaissance Group LLC now owns 8,285 shares of the software maker’s stock valued at $357,000 after purchasing an additional 1,196 shares during the period.

BroadSoft (NASDAQ:BSFT) traded down $0.05 during trading hours on Friday, reaching $54.95. 620,000 shares of the company were exchanged, compared to its average volume of 619,289. BroadSoft has a 1-year low of $33.85 and a 1-year high of $55.05. The company has a market capitalization of $1,747.68, a price-to-earnings ratio of 157.14, a price-to-earnings-growth ratio of 4.58 and a beta of 0.92. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.41.

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About BroadSoft

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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