Broadridge Financial Solutions (NYSE:BR) Raised to Buy at StockNews.com

Broadridge Financial Solutions (NYSE:BR) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Several other research analysts also recently issued reports on the company. DA Davidson restated a “neutral” rating and set a $185.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday. Evercore ISI reiterated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Royal Bank of Canada boosted their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Raymond James boosted their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.67.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded down $1.92 during trading on Friday, hitting $198.83. 398,033 shares of the company were exchanged, compared to its average volume of 522,786. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. Broadridge Financial Solutions has a fifty-two week low of $139.52 and a fifty-two week high of $210.24. The stock has a market capitalization of $23.42 billion, a price-to-earnings ratio of 34.64 and a beta of 0.99. The firm has a 50 day moving average price of $201.21 and a 200 day moving average price of $193.52.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm posted $0.91 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Broadridge Financial Solutions will post 7.72 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert N. Duelks sold 830 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $201.58, for a total transaction of $167,311.40. Following the completion of the sale, the director now directly owns 5,445 shares of the company’s stock, valued at approximately $1,097,603.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Douglas Richard Deschutter sold 22,722 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the completion of the sale, the insider now directly owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total transaction of $167,311.40. Following the sale, the director now directly owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The disclosure for this sale can be found here. Insiders sold 48,483 shares of company stock valued at $9,745,637 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB boosted its position in Broadridge Financial Solutions by 680.1% during the 4th quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock worth $17,584,000 after purchasing an additional 74,387 shares during the period. International Assets Investment Management LLC acquired a new position in Broadridge Financial Solutions in the 4th quarter worth $227,750,000. Comerica Bank acquired a new position in Broadridge Financial Solutions in the 3rd quarter worth $8,116,000. Gotham Asset Management LLC lifted its holdings in Broadridge Financial Solutions by 176.1% in the 3rd quarter. Gotham Asset Management LLC now owns 21,357 shares of the business services provider’s stock worth $3,824,000 after buying an additional 13,621 shares in the last quarter. Finally, Allred Capital Management LLC acquired a new position in Broadridge Financial Solutions in the 4th quarter worth $213,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.