BroadSoft, Inc. (BSFT) Hits 52-Week High

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The company is trading up by 1.67%% since yesterday’s close of 53.9. The stock last traded at $54.80 which is a tad above the 50 day moving average of $51.65 and which is well above the 200 day moving average of $43.87. The 50 day moving average was up $3.15 or +6.09% and the 200 day average moved up $10.93.

Traders are more bullish on BroadSoft, Inc. lately if you put credence in the motion in short interest. The firm realized a fall in short interest from September 15, 2017 to September 29, 2017 of -16.09%. Short interest decreased from 3,916,407 to 3,286,425 over that period. Days to cover increased 2.0 to 11.0 and the percentage of shorted shares was 0.11% on September 29.

BroadSoft, Inc. (NASDAQ:BSFT) has been the object of insider selling activity recently. Scott D. Hoffpauir, CTO disclosed the sale of 4,448 shares of BSFT stock. The shares were purchased at an average price of $52.89. The CTO now owns $5,006,356 of the stock per the Form 4 SEC filing. Scott D. Hoffpauir, CTO reported the sale of 4,448 shares of (BSFT). The shares were sold on September 18th for an average price of $51.50. Hoffpauir now owns $5,204,281 of the stock according to the SEC filing.

BroadSoft, Inc., launched on November 17, 1998, 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. The Business’s technology is designed to meet service providers’ requirements for service availability, network integration and scale, and to address the needs of various business segments, such as micro, small, medium and large enterprises; market segments, such as hospitality, government, education, contact centers and healthcare, and industries requiring call center functionality. The capabilities of the BroadSoft Business offering can be accessed through desk phones, smartphones, tablets, laptops and personal computers (PCs)..

Here are a few substantial investment firms who have updated their positions. Atria Investments LLC cut its position by selling 1,070 shares a decrease of 17.0% from 06/30/2017 to 09/30/2017. Atria Investments LLC now holds 5,241 shares worth $264,000. The total value of its holdings decreased 2.9%. Cwm, LLC downsized its ownership by shedding 935 shares a decrease of 2.5% in the quarter. Cwm, LLC claims 36,776 shares valued at $1,850,000. The value of the position overall is up by 14.0%.

Central Trust Co reduced its investment by selling 33 shares a decrease of 32.4% as of 09/30/2017. Central Trust Co currently owns 69 shares with a value of $3,000. The value of the position overall is down by 25.0%. Farmers & Merchants Investments Inc divested its holdings by selling 46 shares a decrease of 24.5%. Farmers & Merchants Investments Inc owns 142 shares with a value of $7,000. The total value of its holdings decreased 12.5%.

On July 7, 2017 Barclays starting coverage on the stock with a rating of “Equal-Weight”.

In the last earnings report the EPS was $-0.27 and is projected to be $2.27 for the current year with 31,013,000 shares now outstanding. Analysts expect next quarter’s EPS will be $1.31 and the next full year EPS is anticipated to be $2.62.

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