BroadSoft, Inc. (BSFT) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of BroadSoft, Inc. (NASDAQ:BSFT) from a buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “BroadSoft, Inc. is engaged in providing software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their Internet protocol-based, or IP-based, networks. The Company’s software, BroadWorks, enables its service provider customers to provide enterprises and consumers with a range of cloud-based, or hosted, IP multimedia communications, such as hosted IP private branch exchanges, or PBXs, video calling, unified communications, or UC, collaboration and converged mobile and fixed-line services. BroadSoft, Inc. is headquartered in Gaithersburg, Maryland. “

A number of other equities analysts have also recently issued reports on the stock. William Blair reiterated an outperform rating on shares of BroadSoft in a research report on Thursday, October 5th. Northland Securities restated a hold rating and issued a $42.00 price target on shares of BroadSoft in a research report on Wednesday, October 4th. Jefferies Group LLC restated a buy rating and issued a $55.00 price target on shares of BroadSoft in a research report on Thursday, September 28th. Needham & Company LLC upped their price target on shares of BroadSoft from $48.00 to $55.00 and gave the company a buy rating in a research report on Wednesday, September 6th. Finally, ValuEngine upgraded shares of BroadSoft from a sell rating to a hold rating in a research report on Friday, September 1st. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $49.67.

Shares of BroadSoft (NASDAQ BSFT) traded up 0.19% during mid-day trading on Wednesday, hitting $53.60. 93,496 shares of the company were exchanged. The company’s 50-day moving average price is $51.23 and its 200-day moving average price is $43.48. The firm’s market capitalization is $1.66 billion. BroadSoft has a 12-month low of $33.85 and a 12-month high of $54.70.

BroadSoft (NASDAQ:BSFT) last released its quarterly earnings data on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.53. The business had revenue of $88.80 million during the quarter, compared to analysts’ expectations of $86.63 million. BroadSoft had a negative net margin of 2.34% and a positive return on equity of 4.72%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. Equities research analysts predict that BroadSoft will post $2.27 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “BroadSoft, Inc. (BSFT) Downgraded by Zacks Investment Research to Hold” was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another website, it was stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this story can be read at https://stocknewstimes.com/2017/10/19/broadsoft-inc-bsft-downgraded-by-zacks-investment-research-to-hold.html.

In other news, insider Scott D. Hoffpauir sold 13,344 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total transaction of $640,512.00. Following the completion of the sale, the insider now directly owns 114,398 shares in the company, valued at $5,491,104. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John D. Jr. Markley sold 3,000 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $48.00, for a total transaction of $144,000.00. Following the sale, the director now owns 22,839 shares of the company’s stock, valued at $1,096,272. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,688 shares of company stock valued at $1,458,384. Corporate insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of BroadSoft during the first quarter worth $102,000. Eqis Capital Management Inc. acquired a new stake in shares of BroadSoft during the third quarter worth $208,000. Pitcairn Co. acquired a new stake in shares of BroadSoft during the second quarter worth $222,000. US Bancorp DE increased its position in shares of BroadSoft by 9.6% during the second quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock worth $284,000 after buying an additional 579 shares during the period. Finally, Wrapmanager Inc. acquired a new stake in shares of BroadSoft during the second quarter worth $300,000.

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.

Analyst Recommendations for BroadSoft (NASDAQ:BSFT)

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

Latest News

Leave a Reply