BroadSoft Inc (NASDAQ:BSFT) insider Scott D. Hoffpauir sold 4,448 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $54.96, for a total value of $244,462.08. Following the completion of the transaction, the insider now owns 77,991 shares in the company, valued at approximately $4,286,385.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of BroadSoft Inc (NASDAQ BSFT) remained flat at $$54.90 during trading on Monday. The company had a trading volume of 875,100 shares, compared to its average volume of 821,017. The stock has a market cap of $1,740.00, a P/E ratio of -152.50 and a beta of 0.97. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.41. BroadSoft Inc has a 52 week low of $33.85 and a 52 week high of $55.05.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in BroadSoft by 3.8% during the second quarter. Vanguard Group Inc. now owns 2,533,349 shares of the software maker’s stock worth $109,060,000 after purchasing an additional 92,265 shares during the period. BlackRock Inc. boosted its position in shares of BroadSoft by 3.0% in the fourth quarter. BlackRock Inc. now owns 2,226,250 shares of the software maker’s stock valued at $122,221,000 after acquiring an additional 65,820 shares during the period. Brown Advisory Inc. boosted its position in shares of BroadSoft by 2.9% in the fourth quarter. Brown Advisory Inc. now owns 1,773,573 shares of the software maker’s stock valued at $97,369,000 after acquiring an additional 50,677 shares during the period. Southpoint Capital Advisors LP bought a new stake in shares of BroadSoft in the second quarter valued at approximately $59,979,000. Finally, Alpine Associates Management Inc. bought a new stake in shares of BroadSoft in the fourth quarter valued at approximately $67,743,000.
A number of brokerages have recently weighed in on BSFT. Zacks Investment Research downgraded BroadSoft from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Dougherty & Co cut BroadSoft from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. BidaskClub cut BroadSoft from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Northland Securities reissued a “hold” rating and issued a $42.00 price target on shares of BroadSoft in a research note on Sunday, November 19th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $55.00 price target on shares of BroadSoft in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $50.40.
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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