Broadridge Financial Solutions (NYSE:BR) Rating Reiterated by Royal Bank of Canada

Broadridge Financial Solutions (NYSE:BR)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They presently have a $239.00 target price on the business services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 21.32% from the company’s previous close.

BR has been the topic of several other reports. DA Davidson reissued a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, June 11th. Evercore ISI reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a research report on Tuesday, March 26th. Finally, StockNews.com lowered Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and an average price target of $206.67.

Broadridge Financial Solutions Stock Down 1.1 %

Shares of NYSE:BR opened at $197.00 on Friday. The stock has a 50-day simple moving average of $198.10 and a 200-day simple moving average of $199.96. The stock has a market capitalization of $23.28 billion, a P/E ratio of 33.62 and a beta of 1.03. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions has a 1 year low of $161.33 and a 1 year high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Wednesday, May 8th. The business services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.77 billion. Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $2.05 earnings per share. Equities analysts forecast that Broadridge Financial Solutions will post 7.72 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the transaction, the director now owns 22,588 shares of the company’s stock, valued at $4,473,779.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.40, for a total transaction of $501,000.00. Following the transaction, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now directly owns 22,588 shares in the company, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Institutional Trading of Broadridge Financial Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BR. LifeSteps Financial Inc. bought a new stake in shares of Broadridge Financial Solutions in the 1st quarter worth approximately $32,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at $34,000. Manchester Capital Management LLC grew its stake in shares of Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after purchasing an additional 60 shares during the period. New Covenant Trust Company N.A. acquired a new stake in shares of Broadridge Financial Solutions during the first quarter worth $34,000. Finally, Headinvest LLC acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth $32,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

About Broadridge Financial Solutions

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.