RK Capital Management LLC raised its stake in BroadSoft, Inc. (NASDAQ:BSFT) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 176,060 shares of the software maker’s stock after buying an additional 10,000 shares during the quarter. RK Capital Management LLC owned 0.57% of BroadSoft worth $7,579,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. bought a new stake in shares of BroadSoft in the first quarter worth about $102,000. Koch Industries Inc. bought a new stake in shares of BroadSoft in the first quarter worth about $220,000. Pitcairn Co. bought a new stake in shares of BroadSoft in the second quarter worth about $222,000. US Bancorp DE increased its holdings in shares of BroadSoft by 9.6% in the second quarter. US Bancorp DE now owns 6,595 shares of the software maker’s stock worth $284,000 after acquiring an additional 579 shares in the last quarter. Finally, Wrapmanager Inc. bought a new stake in shares of BroadSoft in the second quarter worth about $300,000.
BroadSoft, Inc. (BSFT) traded up 1.08% on Friday, hitting $51.55. The company had a trading volume of 501,512 shares. The company’s market capitalization is $1.60 billion. The stock’s 50-day moving average price is $45.85 and its 200 day moving average price is $41.85. BroadSoft, Inc. has a one year low of $33.85 and a one year high of $51.60.
BroadSoft (NASDAQ:BSFT) last announced its quarterly earnings data on Monday, August 7th. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.53. BroadSoft had a positive return on equity of 4.72% and a negative net margin of 2.34%. The company had revenue of $88.80 million for the quarter, compared to the consensus estimate of $86.63 million. During the same period in the previous year, the business earned $0.49 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, analysts expect that BroadSoft, Inc. will post $2.27 EPS for the current fiscal year.
BSFT has been the subject of several recent analyst reports. Needham & Company LLC increased their price target on BroadSoft from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, September 6th. BidaskClub downgraded BroadSoft from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. ValuEngine upgraded BroadSoft from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group LLC restated a “buy” rating and issued a $55.00 price target on shares of BroadSoft in a report on Monday, June 26th. Finally, Cowen and Company restated a “buy” rating and issued a $51.00 price target on shares of BroadSoft in a report on Friday, July 28th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. BroadSoft currently has a consensus rating of “Buy” and an average target price of $48.38.
In related news, insider Scott D. Hoffpauir sold 13,344 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $48.00, for a total transaction of $640,512.00. Following the transaction, the insider now directly owns 114,398 shares of the company’s stock, valued at approximately $5,491,104. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Scott D. Hoffpauir sold 8,896 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $50.00, for a total value of $444,800.00. Following the transaction, the insider now directly owns 105,502 shares in the company, valued at $5,275,100. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,240 shares of company stock worth $1,229,312. 1.50% of the stock is owned by company insiders.
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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.
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