P2 Capital Partners LLC Upped Broadsoft INC (BSFT) Holding by $41.80 Million as Shares Declined

January 21, 2018 - By Darrin Black

Investors sentiment decreased to 0.96 in Q3 2017. Its down 0.03, from 0.99 in 2017Q2. It dived, as 17 investors sold BSFT shares while 57 reduced holdings. 27 funds opened positions while 44 raised stakes. 33.56 million shares or 3.91% less from 34.92 million shares in 2017Q2 were reported. Grimes And Inc has 0.05% invested in BroadSoft, Inc. (NASDAQ:BSFT) for 10,135 shares. Nokota Mngmt LP reported 12,318 shares. Citigroup holds 2,117 shares. Raymond James Finance Ser Advsrs Incorporated accumulated 54,027 shares. Gp One Trading LP stated it has 1,290 shares or 0% of all its holdings. Lazard Asset Mgmt Limited Liability Company owns 157,874 shares or 0.02% of their US portfolio. Nuveen Asset Lc holds 0.01% of its portfolio in BroadSoft, Inc. (NASDAQ:BSFT) for 25,312 shares. Guggenheim Limited reported 0% stake. Empyrean Capital Ptnrs Limited Partnership holds 0.41% of its portfolio in BroadSoft, Inc. (NASDAQ:BSFT) for 210,971 shares. California State Teachers Retirement holds 49,165 shares or 0.01% of its portfolio. Tower Research Cap Ltd Liability (Trc) reported 4,272 shares. Polar Capital Ltd Liability Partnership invested in 0.02% or 37,396 shares. State Board Of Administration Of Florida Retirement owns 0% invested in BroadSoft, Inc. (NASDAQ:BSFT) for 15,192 shares. Cortina Asset Ltd owns 1.11% invested in BroadSoft, Inc. (NASDAQ:BSFT) for 536,960 shares. 694,350 are owned by Vaughan Nelson Inv Management Limited Partnership.

Since August 30, 2017, it had 0 insider buys, and 6 sales for $1.94 million activity. 8,896 shares were sold by Hoffpauir Scott D., worth $444,800.

Claus Moller increased its stake in Broadsoft Inc (BSFT) by 59.11% based on its latest 2017Q3 regulatory filing with the SEC. P2 Capital Partners Llc bought 835,919 shares as the company’s stock declined 14.92% while stock markets rallied. The hedge fund run by Claus Moller held 2.25M shares of the technology company at the end of 2017Q3, valued at $113.18M, up from 1.41 million at the end of the previous reported quarter. P2 Capital Partners Llc who had been investing in Broadsoft Inc for a number of months, seems to be bullish on the $1.75B market cap company. It closed at $55 lastly. It is down 7.18% since January 21, 2017 and is downtrending. It has underperformed by 23.88% the S&P500.

P2 Capital Partners Llc, which manages about $1.22B and $854.79 million US Long portfolio, decreased its stake in Netscout Sys Inc (NASDAQ:NTCT) by 651,333 shares to 1.95M shares, valued at $63.06M in 2017Q3, according to the filing. It also reduced its holding in Ilg Inc by 1.68 million shares in the quarter, leaving it with 2.70M shares, and cut its stake in Aci Worldwide Inc (NASDAQ:ACIW).

More news for BroadSoft, Inc. (NASDAQ:BSFT) were recently published by: Globenewswire.com, which released: “BroadSoft Obtains Antitrust Clearance for Pending Acquisition by Cisco” on January 18, 2018. Streetinsider.com‘s article titled: “Form 4 BROADSOFT, INC. For: Jan 14 Filed by: BEHBEHANI TAHER G.” and published on January 17, 2018 is yet another important article.

BroadSoft, Inc. (NASDAQ:BSFT) Ratings Coverage

Among 11 analysts covering Broadsoft (NASDAQ:BSFT), 4 have Buy rating, 0 Sell and 7 Hold. Therefore 36% are positive. Broadsoft had 30 analyst reports since November 5, 2015 according to SRatingsIntel. The firm has “Hold” rating given on Thursday, July 20 by Northland Capital. The stock of BroadSoft, Inc. (NASDAQ:BSFT) earned “Hold” rating by Northland Capital on Friday, November 17. Needham maintained BroadSoft, Inc. (NASDAQ:BSFT) rating on Tuesday, November 1. Needham has “Buy” rating and $47 target. The firm earned “Buy” rating on Wednesday, May 31 by William Blair. The stock has “Hold” rating by Northland Capital on Thursday, August 31. The stock of BroadSoft, Inc. (NASDAQ:BSFT) earned “Buy” rating by Needham on Tuesday, September 5. The stock of BroadSoft, Inc. (NASDAQ:BSFT) earned “Buy” rating by Jefferies on Friday, June 23. Jefferies maintained BroadSoft, Inc. (NASDAQ:BSFT) rating on Friday, August 25. Jefferies has “Buy” rating and $55.0 target. The firm has “Market Perform” rating by Raymond James given on Wednesday, November 15. The stock has “Buy” rating by Wells Fargo on Monday, June 19.

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