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Published: Tue, October 24, 2017
Economy | By Melissa Porter

Cisco pays US$1.9b to acquire BroadSoft

Cisco pays US$1.9b to acquire BroadSoft

Zacks Investment Research lowered shares of BroadSoft, Inc. Jennison Associate Limited Liability Corporation invested 0% in BroadSoft Inc (NASDAQ:BSFT).

According to Zacks, "BroadSoft, Inc.is engaged in providing software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their Internet protocol-based, or IP-based, networks". BroadSoft employees will join Cisco's Unified Communications Technology Group.

A number of other hedge funds have also recently modified their holdings of BSFT. The stock of Bazaarvoice Inc (NASDAQ:BV) earned "Outperform" rating by Credit Suisse on Wednesday, March 2.

If you want more background on Broadsoft, you could consider reading a post on Friday that discussed positive remarks about the importance of the company on the part of Dmitry Netis of William Blair, who suggested that Amazon (AMZN) should buy them. Needham maintained it with "Buy" rating and $7.0 target in Wednesday, September 6 report.

Among 6 analysts covering Thyssen Krupp Ag Dus (OTCMKTS:TYEKF), 4 have Buy rating, 0 Sell and 2 Hold. The company now has an average rating of "Buy" and a consensus target price of $45.29. About 9.23M shares traded or 2812.38% up from the average. It just purchased its 200th company. BroadSoft has a 12 month low of $33.85 and a 12 month high of $54.70.

The deal, valued at $1.9 billion, includes BroadSoft debt. The firm's revenue for the quarter was up 21.7% compared to the same quarter past year. During the same quarter past year, the company earned $0.49 earnings per share. If you are accessing this article on another site, it was illegally stolen and republished in violation of USA & worldwide copyright and trademark laws. (NASDAQ:BSFT)'s stock is experiencing unusual volume during today's trading. Exactech founders Dr. Bill Petty and Betty Petty and CEO David Petty have agreed with TPG to vote all of their shares in favor of the merger and to exchange a significant portion of their shares for new shares in the parent entity immediately following the merger. Also, Director John D. Jr. The stock has "Underweight" rating by Atlantic Securities on Wednesday, February 3. The disclosure for this sale can be found here.

The stock increased 1.81% or $0.9 on October 20, reaching $50.68. After $0.04 actual EPS reported by BroadSoft Inc for the previous quarter, Wall Street now forecasts -175.00% negative EPS growth.

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