SG Americas Securities LLC Invests $2.05 Million in BroadSoft Inc (BSFT) Stock

SG Americas Securities LLC acquired a new position in BroadSoft Inc (NASDAQ:BSFT) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 37,388 shares of the software maker’s stock, valued at approximately $2,053,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Omni Partners LLP bought a new position in BroadSoft in the 4th quarter worth approximately $259,000. Schwab Charles Investment Management Inc. boosted its holdings in BroadSoft by 6.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 157,555 shares of the software maker’s stock worth $8,650,000 after buying an additional 9,356 shares during the period. Bank of Montreal Can boosted its holdings in BroadSoft by 229,591.8% in the 4th quarter. Bank of Montreal Can now owns 225,098 shares of the software maker’s stock worth $12,358,000 after buying an additional 225,000 shares during the period. California Public Employees Retirement System boosted its holdings in BroadSoft by 4.5% in the 3rd quarter. California Public Employees Retirement System now owns 58,094 shares of the software maker’s stock worth $2,922,000 after buying an additional 2,494 shares during the period. Finally, Pacific Grove Capital LP bought a new position in BroadSoft in the 3rd quarter worth approximately $3,089,000.

Shares of BroadSoft Inc (NASDAQ BSFT) opened at $54.95 on Tuesday. BroadSoft Inc has a 52 week low of $33.85 and a 52 week high of $55.05. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1,744.50, a P/E ratio of 156.86 and a beta of 0.97.

BroadSoft (NASDAQ:BSFT) last posted its earnings results on Monday, November 6th. The software maker reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.06. BroadSoft had a negative net margin of 2.86% and a positive return on equity of 3.78%. The business had revenue of $91.47 million for the quarter, compared to analysts’ expectations of $87.92 million.

BSFT has been the subject of several analyst reports. Zacks Investment Research raised shares of BroadSoft from a “hold” rating to a “strong-buy” rating and set a $63.00 price objective for the company in a report on Monday, October 9th. Robert W. Baird reiterated a “hold” rating and issued a $45.00 target price on shares of BroadSoft in a research note on Friday, October 20th. Needham & Company LLC cut shares of BroadSoft from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Raymond James Financial reiterated an “outperform” rating and issued a $55.00 target price on shares of BroadSoft in a research note on Tuesday, October 24th. Finally, Dougherty & Co cut shares of BroadSoft from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $50.40.

In other BroadSoft 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 value of $244,462.08. Following the sale, the insider now directly owns 77,991 shares in the company, valued at approximately $4,286,385.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 13,344 shares of company stock worth $730,317 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

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BroadSoft 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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Institutional Ownership by Quarter for BroadSoft (NASDAQ:BSFT)

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