BidaskClub downgraded shares of BroadSoft (NASDAQ:BSFT) from a hold rating to a sell rating in a research report report published on Wednesday.

BSFT has been the subject of several other research reports. Zacks Investment Research upgraded shares of BroadSoft from a hold rating to a buy rating and set a $62.00 price objective for the company in a research report on Wednesday, October 25th. Cowen lowered shares of BroadSoft from an outperform rating to a market perform rating in a research report on Tuesday, November 7th. Northland Securities restated a hold rating and set a $42.00 price objective on shares of BroadSoft in a research report on Wednesday, October 4th. Raymond James Financial restated an outperform rating and set a $55.00 price objective on shares of BroadSoft in a research report on Tuesday, October 24th. Finally, Robert W. Baird restated a hold rating and set a $45.00 price objective on shares of BroadSoft in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $50.40.

BroadSoft (NASDAQ:BSFT) opened at $54.95 on Wednesday. BroadSoft has a 12-month low of $33.85 and a 12-month high of $55.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.64 and a quick ratio of 2.64. The stock has a market cap of $1,746.09, a PE ratio of -152.64, a P/E/G ratio of 4.58 and a beta of 0.92.

In other BroadSoft news, insider Scott D. Hoffpauir sold 4,448 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $52.89, for a total value of $235,254.72. Following the completion of the transaction, the insider now directly owns 94,656 shares in the company, valued at $5,006,355.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 13,344 shares of company stock valued at $721,110. Corporate insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of BroadSoft in the third quarter worth about $130,000. Eqis Capital Management Inc. purchased a new stake in shares of BroadSoft in the third quarter worth approximately $208,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of BroadSoft in the third quarter worth approximately $387,000. Ramsey Quantitative Systems purchased a new stake in shares of BroadSoft in the second quarter worth approximately $349,000. Finally, Renaissance Group LLC lifted its position in shares of BroadSoft by 16.9% in the second quarter. Renaissance Group LLC now owns 8,285 shares of the software maker’s stock worth $357,000 after purchasing an additional 1,196 shares in the last quarter.

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BroadSoft Company 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.

Analyst Recommendations for BroadSoft (NASDAQ:BSFT)

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