BroadSoft’s (BSFT) “Hold” Rating Reiterated at Northland Securities

Northland Securities reaffirmed their hold rating on shares of BroadSoft, Inc. (NASDAQ:BSFT) in a report released on Sunday. They currently have a $42.00 price target on the software maker’s stock.

BSFT has been the topic of a number of other research reports. Jefferies Group LLC restated a buy rating and set a $55.00 price objective on shares of BroadSoft in a research note on Tuesday, July 25th. Zacks Investment Research upgraded BroadSoft from a hold rating to a buy rating and set a $62.00 price target on the stock in a research note on Wednesday, October 25th. William Blair reiterated a buy rating on shares of BroadSoft in a research note on Wednesday, August 9th. Cowen and Company cut BroadSoft from an outperform rating to a market perform rating in a research note on Tuesday, November 7th. Finally, BidaskClub cut BroadSoft from a buy rating to a hold rating in a research note on Monday, July 24th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. BroadSoft presently has an average rating of Hold and a consensus target price of $50.40.

BroadSoft (NASDAQ BSFT) opened at $54.65 on Friday. The company has a market capitalization of $1,730.00, a PE ratio of 156.29, a price-to-earnings-growth ratio of 4.28 and a beta of 0.96. BroadSoft has a one year low of $33.85 and a one year high of $55.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.64 and a current ratio of 2.64.

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In related news, insider Scott D. Hoffpauir sold 8,896 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $50.00, for a total value of $444,800.00. Following the completion of the sale, the insider now directly owns 105,502 shares of the company’s stock, valued at $5,275,100. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John D. Jr. Markley sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $48.00, for a total value of $144,000.00. Following the completion of the sale, the director now directly 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 three months, insiders sold 38,584 shares of company stock valued at $1,936,366. 1.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System increased its holdings in BroadSoft by 4.5% in the third quarter. California Public Employees Retirement System now owns 58,094 shares of the software maker’s stock valued at $2,922,000 after buying an additional 2,494 shares during the last quarter. Pacific Grove Capital LP bought a new stake in BroadSoft in the third quarter valued at about $3,089,000. Legion Partners Asset Management LLC increased its holdings in BroadSoft by 166.0% in the third quarter. Legion Partners Asset Management LLC now owns 929,226 shares of the software maker’s stock valued at $46,740,000 after buying an additional 579,835 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in BroadSoft in the third quarter valued at about $130,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in BroadSoft by 22.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,888 shares of the software maker’s stock valued at $849,000 after buying an additional 3,043 shares during the last quarter.

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)

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