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.
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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.
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