What Will Happen to Broadsoft Incorporated (NASDAQ:BSFT) Next? The Stock Has Decline in Shorts

June 19, 2017 - By Richard Conner

 What Will Happen to Broadsoft Incorporated (NASDAQ:BSFT) Next? The Stock Has Decline in Shorts

Investors sentiment decreased to 0.9 in 2016 Q4. Its down 0.06, from 0.96 in 2016Q3. It is negative, as 28 investors sold BroadSoft Inc shares while 55 reduced holdings. 15 funds opened positions while 60 raised stakes. 32.64 million shares or 2.32% more from 31.90 million shares in 2016Q3 were reported.
Rhumbline Advisers holds 0% or 33,870 shares in its portfolio. Moreover, State Board Of Administration Of Florida Retirement Systems has 0% invested in BroadSoft Inc (NASDAQ:BSFT). 7,183 were reported by Legal & General Group Inc Public Ltd Company. Hsbc Public Limited Co stated it has 6,508 shares or 0% of all its holdings. Moreover, Scout Investments Incorporated has 0.17% invested in BroadSoft Inc (NASDAQ:BSFT). Argent Cap Ltd Llc invested in 0.14% or 81,825 shares. Lord Abbett And Communications Limited Liability Corporation has invested 0.02% in BroadSoft Inc (NASDAQ:BSFT). Walleye Trading Ltd accumulated 14,205 shares. Pillar Pacific Mgmt Ltd Limited Liability Company reported 6,200 shares. Ny State Common Retirement Fund stated it has 158,165 shares. Aqr Cap Lc holds 0% in BroadSoft Inc (NASDAQ:BSFT) or 13,252 shares. Ipswich Mngmt Company Inc accumulated 5,618 shares or 0.1% of the stock. Goldman Sachs Grp Incorporated Inc has invested 0% in BroadSoft Inc (NASDAQ:BSFT). Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 758 shares. Symphony Asset Management Limited Liability holds 36,487 shares or 0.16% of its portfolio.

Since January 20, 2017, it had 0 buys, and 5 selling transactions for $813,020 activity. Markley John D. Jr. sold 2,000 shares worth $92,120. 5,000 shares were sold by Bernardi David, worth $215,750 on Wednesday, March 1. 6,446 BroadSoft Inc (NASDAQ:BSFT) shares with value of $290,070 were sold by Tessler Michael. BEHBEHANI TAHER G. sold $172,420 worth of stock.

The stock of Broadsoft Incorporated (NASDAQ:BSFT) registered a decrease of 6.7% in short interest. BSFT’s total short interest was 2.47 million shares in June as published by FINRA. Its down 6.7% from 2.65M shares, reported previously. With 790,800 shares average volume, it will take short sellers 3 days to cover their BSFT’s short positions. The short interest to Broadsoft Incorporated’s float is 8.23%.

About 43,092 shares traded. BroadSoft Inc (NASDAQ:BSFT) has declined 7.18% since June 19, 2016 and is downtrending. It has underperformed by 23.88% the S&P500.

BroadSoft, Inc. is a global provider of software and services that enable telecommunications service providers to deliver hosted, cloud Unified Communications to their enterprise customers. The company has market cap of $1.28 billion. 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 private branch exchange (PBX) equipment. It currently has negative earnings. BroadSoft Business includes its UC-One, Team-One and CC-One applications.

BroadSoft Inc (NASDAQ:BSFT) Ratings Coverage

Among 7 analysts covering Broadsoft (NASDAQ:BSFT), 6 have Buy rating, 0 Sell and 1 Hold. Therefore 86% are positive. Broadsoft had 9 analyst reports since November 5, 2015 according to SRatingsIntel. Dougherty & Company maintained it with “Buy” rating and $47 target in Friday, April 29 report. Raymond James maintained the stock with “Strong Buy” rating in Tuesday, August 2 report. The stock of BroadSoft Inc (NASDAQ:BSFT) has “Buy” rating given on Tuesday, August 2 by Jefferies. Jefferies maintained the shares of BSFT in report on Wednesday, September 28 with “Buy” rating. The firm has “Buy” rating given on Wednesday, May 31 by William Blair. The rating was upgraded by Wells Fargo on Wednesday, January 20 to “Outperform”. Needham maintained BroadSoft Inc (NASDAQ:BSFT) rating on Tuesday, November 1. Needham has “Buy” rating and $47 target. Needham maintained BroadSoft Inc (NASDAQ:BSFT) rating on Thursday, November 5. Needham has “Buy” rating and $42 target.

More important recent BroadSoft Inc (NASDAQ:BSFT) news were published by: Fool.com which released: “Why BroadSoft Inc. Stock Plunged Today” on May 01, 2017, also Nasdaq.com published article titled: “Commit To Purchase BroadSoft At $35, Earn 9.4% Annualized Using Options”, Seekingalpha.com published: “BroadSoft (BSFT) Q4 2016 Results – Earnings Call Transcript” on February 23, 2017. More interesting news about BroadSoft Inc (NASDAQ:BSFT) was released by: Globenewswire.com and their article: “BroadSoft Showcases Market Trends and New Opportunities for Cloud …” with publication date: May 25, 2017.

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