Ao Asset Management Lowers stake in BroadSoft Inc (BSFT)

BroadSoft Inc (BSFT) : Ao Asset Management reduced its stake in BroadSoft Inc by 5.89% during the most recent quarter end. The investment management company now holds a total of 331,256 shares of BroadSoft Inc which is valued at $13,670,935 after selling 20,744 shares in BroadSoft Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.BroadSoft Inc makes up approximately 3.37% of Ao Asset Management’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities sold out all of its stake in BSFT during the most recent quarter. The investment firm sold 3,660 shares of BSFT which is valued $151,048.Kornitzer Capital Management Inc Ks reduced its stake in BSFT by selling 290,506 shares or 46.7% in the most recent quarter. The Hedge Fund company now holds 331,624 shares of BSFT which is valued at $14,866,704. BroadSoft Inc makes up approx 0.27% of Kornitzer Capital Management Inc Ks’s portfolio.Dudley Shanley reduced its stake in BSFT by selling 8,500 shares or 15.45% in the most recent quarter. The Hedge Fund company now holds 46,500 shares of BSFT which is valued at $2,084,595. BroadSoft Inc makes up approx 0.45% of Dudley Shanley’s portfolio.Financial Architects Inc boosted its stake in BSFT in the latest quarter, The investment management firm added 19 additional shares and now holds a total of 74 shares of BroadSoft Inc which is valued at $3,468. Creative Planning added BSFT to its portfolio by purchasing 94 company shares during the most recent quarter which is valued at $4,145.

BroadSoft Inc closed down -0.1 points or -0.23% at $42.61 with 3,64,910 shares getting traded on Monday. Post opening the session at $42.35, the shares hit an intraday low of $42.061 and an intraday high of $43.26 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, BroadSoft Inc reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.36. The company had revenue of $81.70 million for the quarter, compared to analysts expectations of $78.75 million. The company’s revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Many Wall Street Analysts have commented on BroadSoft Inc. Company shares were Reiterated by Dougherty & Company on Aug 2, 2016 to “Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $47 .Company shares were Reiterated by Jefferies on Aug 2, 2016 to “Buy”, Firm has raised the Price Target to $ 52 from a previous price target of $48 .

BroadSoft Inc. is a provider of software and services that enable mobile fixed-line and cable service providers to deliver hosted cloud-based unified communications (UC) over their internet protocol (IP)- -based networks. The Company offers service providers two deployment options software and software-as-a-service (SaaS). Hosted UC enables the delivery of PBX features without the need for premise-based equipment. BroadWorks is the Company’s application server software offering. The Company’s second deployment option is BroadCloud SaaS offering. UC-One is a communications and collaboration offering that enables mobile fixed-line cable and converged service providers to offer businesses and other enterprises UC features and functionalities on a hosted basis. The key elements of the Company’s technology include SIP Call control Geographic redundancy Common OAMP platform Media resource framework Client technology IMS and VoLTE and Network Function Virtualization.

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