Trade Report: The Nationwide Fund Advisors Reached $796,000 position of BroadSoft Inc. (BSFT)

The Nationwide Fund Advisors Reached $796,000 position  of BroadSoft Inc. (BSFT)

Nationwide Fund Advisors increased its position in shares of BroadSoft Inc. (NASDAQ:BSFT) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,408 shares of the company’s stock after buying an additional 488 shares during the period. Nationwide Fund Advisors owned approximately 0.07% of BroadSoft worth $796,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BSFT. JPMorgan Chase & Co. raised its stake in BroadSoft by 14,286.4% in the second quarter. JPMorgan Chase & Co. now owns 6,330 shares of the company’s stock worth $260,000 after buying an additional 6,286 shares during the period. Royce & Associates LP bought a new stake in BroadSoft during the second quarter worth about $2,134,000. Argent Capital Management LLC raised its stake in BroadSoft by 14.9% in the second quarter. Argent Capital Management LLC now owns 72,650 shares of the company’s stock worth $2,981,000 after buying an additional 9,400 shares during the period. First Trust Advisors LP bought a new stake in BroadSoft during the second quarter worth about $1,699,000. Finally, California Public Employees Retirement System raised its stake in BroadSoft by 0.6% in the second quarter. California Public Employees Retirement System now owns 77,500 shares of the company’s stock worth $3,180,000 after buying an additional 500 shares during the period.

Shares of BroadSoft Inc. (NASDAQ:BSFT) traded up 0.45% during mid-day trading on Friday, hitting $44.25. The stock had a trading volume of 350,145 shares. BroadSoft Inc. has a 12-month low of $26.99 and a 12-month high of $48.40. The stock has a market cap of $1.32 billion, a P/E ratio of 325.37 and a beta of 1.61. The company’s 50 day moving average price is $46.10 and its 200 day moving average price is $43.49.

BroadSoft (NASDAQ:BSFT) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.13. BroadSoft had a return on equity of 11.07% and a net margin of 0.79%. The firm earned $81.70 million during the quarter, compared to the consensus estimate of $78.99 million. During the same period in the previous year, the firm posted $0.32 EPS. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. Equities research analysts predict that BroadSoft Inc. will post $2.06 EPS for the current fiscal year.

Several research analysts recently weighed in on the company. William Blair reiterated a “buy” rating on shares of BroadSoft in a research report on Wednesday. Jefferies Group increased their price objective on BroadSoft from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, September 28th. Raymond James Financial Inc. increased their price objective on BroadSoft from $45.00 to $51.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, August 2nd. Finally, Dougherty & Co increased their price objective on BroadSoft from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $45.43.

In other BroadSoft news, insider Dennis Dourgarian sold 2,600 shares of BroadSoft stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $45.40, for a total value of $118,040.00. Following the completion of the sale, the insider now directly owns 30,035 shares of the company’s stock, valued at approximately $1,363,589. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Tessler sold 7,149 shares of BroadSoft stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $42.75, for a total transaction of $305,619.75. Following the completion of the sale, the chief executive officer now directly owns 192,222 shares of the company’s stock, valued at $8,217,490.50. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

BroadSoft Company Profile

BroadSoft, Inc is a provider of software and services that enable telecommunications service providers to deliver hosted, cloud-based Unified Communications (UC) to their enterprise customers. The Company offers service providers two deployment options, software and software-as-a-service (SaaS), to enable them to offer UC services to their enterprise customers.

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