GMT Capital Corp acquired a new position in BroadSoft, Inc. (NASDAQ:BSFT) during the first quarter, according to its most recent filing with the SEC. The fund acquired 72,500 shares of the software maker’s stock, valued at approximately $2,914,000.
Other institutional investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new position in BroadSoft during the first quarter worth $102,000. Koch Industries Inc. bought a new position in BroadSoft during the first quarter worth $220,000. Fox Run Management L.L.C. bought a new position in BroadSoft during the first quarter worth $225,000. Wealthsource Partners LLC boosted its position in BroadSoft by 13.2% in the first quarter. Wealthsource Partners LLC now owns 6,285 shares of the software maker’s stock worth $253,000 after buying an additional 735 shares during the last quarter. Finally, Atria Investments LLC boosted its position in BroadSoft by 3.7% in the first quarter. Atria Investments LLC now owns 6,384 shares of the software maker’s stock worth $257,000 after buying an additional 227 shares during the last quarter.
Shares of BroadSoft, Inc. (NASDAQ BSFT) traded down 0.24% during trading on Monday, reaching $42.00. 508,397 shares of the company’s stock traded hands. BroadSoft, Inc. has a 1-year low of $33.85 and a 1-year high of $48.40. The stock has a 50-day moving average of $38.11 and a 200-day moving average of $40.80. The company’s market capitalization is $1.29 billion.
BroadSoft (NASDAQ:BSFT) last released its quarterly earnings data on Monday, May 1st. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. BroadSoft had a negative net margin of 2.36% and a positive return on equity of 5.12%. The company had revenue of $79.70 million during the quarter, compared to the consensus estimate of $80.42 million. During the same period in the previous year, the firm earned $0.37 earnings per share. BroadSoft’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities analysts predict that BroadSoft, Inc. will post $2.28 EPS for the current fiscal year.
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A number of equities analysts recently weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of BroadSoft in a research report on Friday, February 24th. Robert W. Baird assumed coverage on shares of BroadSoft in a research report on Tuesday, April 11th. They set a “neutral” rating and a $44.00 price objective for the company. William Blair reaffirmed a “buy” rating on shares of BroadSoft in a research report on Sunday, April 9th. Cowen and Company lowered their price objective on shares of BroadSoft from $54.00 to $51.00 and set an “outperform” rating for the company in a research report on Tuesday, May 2nd. Finally, Needham & Company LLC lowered their price objective on shares of BroadSoft from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, May 2nd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $48.17.
In other BroadSoft news, insider Taher G. Behbehani sold 1,716 shares of the business’s stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $38.00, for a total transaction of $65,208.00. Following the completion of the sale, the insider now directly owns 72,221 shares in the company, valued at $2,744,398. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is owned by insiders.
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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