Sabal Capital Management buys $7.2 Million stake in BroadSoft Inc (BSFT)

BroadSoft Inc (BSFT) : Sabal Capital Management scooped up 85,846 additional shares in BroadSoft Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 179,398 shares of BroadSoft Inc which is valued at $7.2 Million.BroadSoft Inc makes up approximately 12.33% of Sabal Capital Management’s portfolio.

Other Hedge Funds, Including , 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.Picton Mahoney Asset Management reduced its stake in BSFT by selling 37,689 shares or 10.58% in the most recent quarter. The Hedge Fund company now holds 318,600 shares of BSFT which is valued at $12.7 Million. BroadSoft Inc makes up approx 0.87% of Picton Mahoney Asset Management’s portfolio. Penserra Capital Management added BSFT to its portfolio by purchasing 5,584 company shares during the most recent quarter which is valued at $223,248. BroadSoft Inc makes up approx 0.03% of Penserra Capital Management’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.Pier Capital reduced its stake in BSFT by selling 18,181 shares or 9.69% in the most recent quarter. The Hedge Fund company now holds 169,396 shares of BSFT which is valued at $6.6 Million. BroadSoft Inc makes up approx 1.31% of Pier Capital’s portfolio.

BroadSoft Inc opened for trading at $40.41 and hit $41.5 on the upside on Friday, eventually ending the session at $41.08, with a gain of 2.09% or 0.84 points. The heightened volatility saw the trading volume jump to 3,38,009 shares. Company has a market cap of $1,204,301 M.

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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