Broadridge Financial Solutions (NYSE:BR) Upgraded 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 to investors on Tuesday.

BR has been the topic of several other research reports. JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, DA Davidson restated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $213.33.

Broadridge Financial Solutions Stock Up 1.5 %

Broadridge Financial Solutions stock opened at $210.65 on Tuesday. The company has a market capitalization of $24.58 billion, a PE ratio of 35.95 and a beta of 1.05. Broadridge Financial Solutions has a 12-month low of $166.73 and a 12-month high of $223.81. The firm’s fifty day moving average is $208.74 and its 200 day moving average is $202.83. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.01. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.21 earnings per share. As a group, sell-side analysts predict that Broadridge Financial Solutions will post 8.51 EPS for the current fiscal year.

Insider Activity

In other news, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now directly owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Laura Matlin sold 673 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the transaction, the vice president now directly owns 5,530 shares of the company’s stock, valued at $1,194,480. The disclosure for this sale can be found here. Insiders sold a total of 116,852 shares of company stock worth $24,370,893 over the last quarter. Insiders own 1.60% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new stake in Broadridge Financial Solutions in the 2nd quarter worth approximately $2,784,000. SRN Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 5.6% in the second quarter. SRN Advisors LLC now owns 11,924 shares of the business services provider’s stock worth $2,349,000 after purchasing an additional 630 shares during the period. Second Line Capital LLC raised its position in shares of Broadridge Financial Solutions by 5.9% in the second quarter. Second Line Capital LLC now owns 11,945 shares of the business services provider’s stock worth $2,362,000 after buying an additional 665 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Broadridge Financial Solutions by 13.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,234 shares of the business services provider’s stock valued at $1,425,000 after buying an additional 849 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc grew its position in Broadridge Financial Solutions by 9.7% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,735 shares of the business services provider’s stock worth $342,000 after buying an additional 154 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors.

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.