Paragon Associates Paragon Associates Ii Joint Venture buys $10.8 Million stake in BroadSoft Inc (BSFT)

BroadSoft Inc (BSFT) : Paragon Associates Paragon Associates Ii Joint Venture scooped up 20,000 additional shares in BroadSoft Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 270,000 shares of BroadSoft Inc which is valued at $10.8 Million.BroadSoft Inc makes up approximately 9.58% of Paragon Associates Paragon Associates Ii Joint Venture’s portfolio.

Other Hedge Funds, Including , Brown Brothers Harriman Co boosted its stake in BSFT in the latest quarter, The investment management firm added 1,055 additional shares and now holds a total of 44,614 shares of BroadSoft Inc which is valued at $1.8 Million. BroadSoft Inc makes up approx 0.01% of Brown Brothers Harriman Co’s portfolio.United Services Automobile Association reduced its stake in BSFT by selling 3,400 shares or 4.79% in the most recent quarter. The Hedge Fund company now holds 67,523 shares of BSFT which is valued at $2.7 Million. BroadSoft Inc makes up approx 0.01% of United Services Automobile Association’s portfolio.New York State Common Retirement Fund boosted its stake in BSFT in the latest quarter, The investment management firm added 20,824 additional shares and now holds a total of 129,844 shares of BroadSoft Inc which is valued at $5.1 Million. BroadSoft Inc makes up approx 0.01% of New York State Common Retirement Fund’s portfolio. Quantitative Investment Management sold out all of its stake in BSFT during the most recent quarter. The investment firm sold 7,200 shares of BSFT which is valued $282,240.Russell Frank Co boosted its stake in BSFT in the latest quarter, The investment management firm added 19,766 additional shares and now holds a total of 36,978 shares of BroadSoft Inc which is valued at $1.4 Million.

BroadSoft Inc closed down -0.55 points or -1.26% at $43.07 with 2,76,195 shares getting traded on Wednesday. Post opening the session at $43.75, the shares hit an intraday low of $43.02 and an intraday high of $43.87 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, BroadSoft Inc reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.26. The company had revenue of $73.10 million for the quarter, compared to analysts expectations of $71.59 million. The company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on BroadSoft Inc. Company shares were Reiterated by Dougherty & Company on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 47 from a previous price target of $45 .Company shares were Reiterated by Needham on Mar 1, 2016 to “Buy”, Firm has raised the Price Target to $ 48 from a previous price target of $42 .

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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