Endicott Management Co adds BroadSoft Inc (BSFT) to its portfolio

BroadSoft Inc (BSFT) : Endicott Management Co added new position in BroadSoft Inc during the most recent quarter end. The investment management firm now holds 18,000 shares of BroadSoft Inc which is valued at $764,820 , the company said in a statement filed on Aug 15, 2016 with the SEC.BroadSoft Inc makes up approximately 0.26% of Endicott Management Co’s portfolio.

Other Hedge Funds, Including , Nuveen Asset Management reduced its stake in BSFT by selling 25,225 shares or 28.02% in the most recent quarter. The Hedge Fund company now holds 64,813 shares of BSFT which is valued at $2,753,904. BroadSoft Inc makes up approx 0.02% of Nuveen Asset Management’s portfolio.Eam Investors reduced its stake in BSFT by selling 31,830 shares or 26.91% in the most recent quarter. The Hedge Fund company now holds 86,463 shares of BSFT which is valued at $3,692,835. BroadSoft Inc makes up approx 0.52% of Eam Investors’s portfolio.Redwood Investments boosted its stake in BSFT in the latest quarter, The investment management firm added 18,047 additional shares and now holds a total of 112,384 shares of BroadSoft Inc which is valued at $5,267,438. BroadSoft Inc makes up approx 0.46% of Redwood Investments’s portfolio.

BroadSoft Inc opened for trading at $45.78 and hit $46.17 on the upside on Thursday, eventually ending the session at $46.17, with a gain of 1.01% or 0.46 points. The heightened volatility saw the trading volume jump to 3,74,302 shares. Company has a market cap of $1,376 M.

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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