Schwab Charles Investment Management Inc. cut its position in BroadSoft, Inc. (NASDAQ:BSFT) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,613 shares of the software maker’s stock after selling 21,249 shares during the period. Schwab Charles Investment Management Inc. owned about 0.72% of BroadSoft worth $8,829,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in BroadSoft by 6.6% in the first quarter. Vanguard Group Inc. now owns 2,441,084 shares of the software maker’s stock worth $98,132,000 after buying an additional 150,680 shares in the last quarter. BlackRock Inc. raised its position in BroadSoft by 86,871.0% in the first quarter. BlackRock Inc. now owns 2,208,194 shares of the software maker’s stock worth $88,770,000 after buying an additional 2,205,655 shares in the last quarter. TimesSquare Capital Management LLC raised its position in BroadSoft by 20.8% in the first quarter. TimesSquare Capital Management LLC now owns 914,297 shares of the software maker’s stock worth $36,755,000 after buying an additional 157,680 shares in the last quarter. Westfield Capital Management Co. LP raised its position in BroadSoft by 14.8% in the first quarter. Westfield Capital Management Co. LP now owns 802,544 shares of the software maker’s stock worth $32,262,000 after buying an additional 103,285 shares in the last quarter. Finally, Copper Rock Capital Partners LLC raised its position in BroadSoft by 1.7% in the first quarter. Copper Rock Capital Partners LLC now owns 698,248 shares of the software maker’s stock worth $27,895,000 after buying an additional 11,776 shares in the last quarter.
Shares of BroadSoft, Inc. (NASDAQ:BSFT) traded up 3.86% during midday trading on Monday, reaching $44.40. The company had a trading volume of 262,743 shares. The company’s market capitalization is $1.36 billion. The company has a 50-day moving average price of $42.89 and a 200 day moving average price of $41.10. BroadSoft, Inc. has a one year low of $33.85 and a one year high of $48.40.
BroadSoft (NASDAQ:BSFT) last announced its quarterly earnings data on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.11. The business had revenue of $88.80 million during the quarter, compared to analysts’ expectations of $86.63 million. BroadSoft had a positive return on equity of 5.12% and a negative net margin of 2.36%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share. Equities analysts anticipate that BroadSoft, Inc. will post $2.27 earnings per share for the current fiscal year.
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BSFT has been the topic of a number of recent analyst reports. Dougherty & Co cut their price objective on BroadSoft from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, May 2nd. Needham & Company LLC cut their price objective on BroadSoft from $48.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, May 2nd. William Blair reaffirmed a “buy” rating on shares of BroadSoft in a research note on Thursday, May 4th. BidaskClub lowered BroadSoft from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of BroadSoft in a research note on Monday, June 26th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $46.88.
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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