Short Interest Change: What’s Next for Broadsoft Incorporated (NASDAQ:BSFT) After Having Less Shares Shorted?

November 28, 2016 - By Vivian Park   ·   0 Comments

Short Interest Change: What's Next for Broadsoft Incorporated (NASDAQ:BSFT) After Having Less Shares Shorted?

The stock of Broadsoft Incorporated (NASDAQ:BSFT) registered a decrease of 5.36% in short interest. BSFT’s total short interest was 2.62 million shares in November as published by FINRA. Its down 5.36% from 2.77M shares, reported previously. With 411,500 shares average volume, it will take short sellers 6 days to cover their BSFT’s short positions. The short interest to Broadsoft Incorporated’s float is 8.9%. About 5,986 shares traded hands. BroadSoft Inc (NASDAQ:BSFT) has risen 7.75% since April 25, 2016 and is uptrending. It has outperformed by 1.74% the S&P500.

BroadSoft, Inc. is a provider of software and services that enable telecommunications service providers to deliver hosted, cloud Unified Communications to their enterprise customers. The company has a market cap of $1.29 billion. The Firm offers service providers two deployment options, software and software-as-a-service (SaaS), to enable them to offer UC services to their enterprise customers. It has a 139.42 P/E ratio. Hosted UC enables the delivery of Private Branch Exchange (PBX) features without the need for premise equipment.

Insitutional Activity: The institutional sentiment increased to 0.96 in Q2 2016. Its up 0.17, from 0.79 in 2016Q1. The ratio improved, as 17 funds sold all BroadSoft Inc shares owned while 65 reduced positions. 20 funds bought stakes while 45 increased positions. They now own 30.29 million shares or 0.23% more from 30.22 million shares in 2016Q1.
Prudential Fincl has invested 0% of its portfolio in BroadSoft Inc (NASDAQ:BSFT). Oberweis Asset Management, a Illinois-based fund reported 20,470 shares. Blackrock Fund Advsr holds 0.01% of its portfolio in BroadSoft Inc (NASDAQ:BSFT) for 699,279 shares. Financial Architects has invested 0% of its portfolio in BroadSoft Inc (NASDAQ:BSFT). Aqr Management Ltd Com, a Connecticut-based fund reported 26,373 shares. Legal General Grp Inc Plc last reported 0% of its portfolio in the stock. Rhumbline Advisers has 0% invested in the company for 31,703 shares. Invesco owns 153,637 shares or 0% of their US portfolio. Moreover, Metropolitan Life Insurance Co has 0.01% invested in BroadSoft Inc (NASDAQ:BSFT) for 21,710 shares. Ameriprise Financial owns 886,949 shares or 0.02% of their US portfolio. Moreover, Raymond James And Associate has 0% invested in BroadSoft Inc (NASDAQ:BSFT) for 22,157 shares. Jpmorgan Chase Com accumulated 6,330 shares or 0% of the stock. Ranger Inv Management L P last reported 1.18% of its portfolio in the stock. D E Shaw Company last reported 0.01% of its portfolio in the stock. Neuberger Berman Ltd Limited Liability Company reported 25,000 shares or 0% of all its holdings.

Insider Transactions: Since June 10, 2016, the stock had 0 insider buys, and 9 sales for $2.12 million net activity. BEHBEHANI TAHER G. sold $196,088 worth of stock or 4,273 shares. $150,411 worth of BroadSoft Inc (NASDAQ:BSFT) was sold by Magelli Paul. $331,504 worth of BroadSoft Inc (NASDAQ:BSFT) was sold by Tessler Michael. Tholen James Albert also sold $508,099 worth of BroadSoft Inc (NASDAQ:BSFT) shares. The insider Dourgarian Dennis sold 2,802 shares worth $127,911.

BroadSoft Inc (NASDAQ:BSFT) Ratings Coverage

Out of 5 analysts covering Broadsoft (NASDAQ:BSFT), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Broadsoft has been the topic of 7 analyst reports since November 5, 2015 according to StockzIntelligence Inc. Needham maintained the stock with “Buy” rating in Tuesday, November 1 report. The stock of BroadSoft Inc (NASDAQ:BSFT) earned “Buy” rating by Dougherty & Company on Friday, April 29. On Thursday, November 5 the stock rating was maintained by Needham with “Buy”. The company was upgraded on Wednesday, January 20 by Wells Fargo. Jefferies maintained the stock with “Buy” rating in Tuesday, August 2 report. On Tuesday, August 2 the stock rating was maintained by Raymond James with “Strong Buy”. The rating was maintained by Jefferies with “Buy” on Wednesday, September 28.

BSFT Company Profile

BroadSoft, Inc., incorporated on November 17, 1998, is a well-known provider of software and services that enable telecommunications service providers to deliver hosted, cloud Unified Communications (UC) to their enterprise customers. The Firm offers service providers two deployment options, software and software-as-a-service (SaaS), to enable them to offer UC services to their enterprise customers. Hosted UC enables the delivery of Private Branch Exchange (PBX) features without the need for premise equipment. Hosted UC can be delivered through service providers using their own Internet protocol (IP) networks, as well as over the public Internet (also known as over the top (OTT)). In addition to voice telephony, UC offers additional features, such as full integration with mobile devices, conferencing, instant messaging and presence (IM&P) and Web collaboration.

Another recent and important BroadSoft Inc (NASDAQ:BSFT) news was published by Fool.com which published an article titled: “Why BroadSoft Inc Shares Soared” on February 29, 2016.

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By Vivian Park


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