Shares of BroadSoft, Inc. (NASDAQ:BSFT) have been given a consensus rating of “Hold” by the thirteen research firms that are presently covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $47.40.
Several research analysts have weighed in on BSFT shares. Zacks Investment Research lowered shares of BroadSoft from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Jefferies Group LLC restated a “buy” rating and set a $55.00 target price on shares of BroadSoft in a research report on Thursday, September 28th. Robert W. Baird restated a “hold” rating and set a $45.00 target price on shares of BroadSoft in a research report on Friday, October 20th. Raymond James Financial, Inc. restated an “outperform” rating and set a $55.00 target price on shares of BroadSoft in a research report on Tuesday, October 24th. Finally, ValuEngine upgraded shares of BroadSoft from a “sell” rating to a “hold” rating in a research report on Friday, September 1st.
Shares of BroadSoft (NASDAQ BSFT) traded up $0.10 on Monday, reaching $54.80. 357,500 shares of the company’s stock traded hands, compared to its average volume of 562,973. 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 has a one year low of $33.85 and a one year high of $55.00. The firm has a market capitalization of $1,730.00, a price-to-earnings ratio of 156.57, a P/E/G ratio of 4.29 and a beta of 0.96.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Cipher Capital LP purchased a new position in shares of BroadSoft during the second quarter valued at approximately $1,856,000. Renaissance Group LLC lifted its stake in shares of BroadSoft by 16.9% during the second quarter. Renaissance Group LLC now owns 8,285 shares of the software maker’s stock valued at $357,000 after buying an additional 1,196 shares during the period. Kennedy Capital Management Inc. purchased a new position in shares of BroadSoft during the second quarter valued at approximately $10,371,000. Legion Partners Asset Management LLC purchased a new position in shares of BroadSoft during the second quarter valued at approximately $15,041,000. Finally, Vanguard Group Inc. lifted its stake in shares of BroadSoft by 3.8% during the second quarter. Vanguard Group Inc. now owns 2,533,349 shares of the software maker’s stock valued at $109,060,000 after buying an additional 92,265 shares during the period.
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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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