ARP Americas LP Takes $7.50 Million Position in BroadSoft Inc (BSFT)

ARP Americas LP bought a new stake in shares of BroadSoft Inc (NASDAQ:BSFT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 136,626 shares of the software maker’s stock, valued at approximately $7,501,000. BroadSoft accounts for 2.2% of ARP Americas LP’s investment portfolio, making the stock its 4th largest position.

A number of other institutional investors have also recently bought and sold shares of the business. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of BroadSoft in the 3rd quarter worth approximately $130,000. Eqis Capital Management Inc. acquired a new stake in shares of BroadSoft in the 3rd quarter worth approximately $208,000. Omni Partners LLP acquired a new stake in shares of BroadSoft in the 4th quarter worth approximately $259,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of BroadSoft in the 3rd quarter worth approximately $387,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of BroadSoft in the 4th quarter worth approximately $587,000.

In related news, insider Scott D. Hoffpauir sold 4,448 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $54.96, for a total transaction of $244,462.08. Following the completion of the sale, the insider now directly owns 77,991 shares of the company’s stock, valued at $4,286,385.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by corporate insiders.

A number of analysts have recently weighed in on the stock. Cowen lowered shares of BroadSoft from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 7th. BidaskClub lowered shares of BroadSoft from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Zacks Investment Research lowered shares of BroadSoft from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Raymond James Financial reaffirmed an “outperform” rating and issued a $55.00 price target on shares of BroadSoft in a research note on Tuesday, October 24th. Finally, Dougherty & Co lowered shares of BroadSoft from a “buy” rating to a “neutral” rating 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 given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $50.40.

Shares of BroadSoft Inc (NASDAQ BSFT) opened at $54.90 on Monday. BroadSoft Inc has a one year low of $33.85 and a one year high of $55.05. The company 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 current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.41.

ILLEGAL ACTIVITY WARNING: This article was first reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this article on another publication, it was illegally copied and republished in violation of international copyright and trademark law. The original version of this article can be accessed at https://www.thelincolnianonline.com/2018/02/19/arp-americas-lp-takes-7-50-million-position-in-broadsoft-inc-bsft.html.

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.

Want to see what other hedge funds are holding BSFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BroadSoft Inc (NASDAQ:BSFT).

Institutional Ownership by Quarter for BroadSoft (NASDAQ:BSFT)

Receive News & Ratings for BroadSoft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BroadSoft and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply