Broadridge Financial Solutions (NYSE:BR) Downgraded to “Hold” at StockNews.com

Broadridge Financial Solutions (NYSE:BR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Other analysts have also issued research reports about the stock. Royal Bank of Canada lifted their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $213.33.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock opened at $214.03 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $25.29 billion, a P/E ratio of 36.52 and a beta of 1.05. The firm has a 50 day simple moving average of $213.32 and a 200 day simple moving average of $205.65. Broadridge Financial Solutions has a fifty-two week low of $166.73 and a fifty-two week high of $224.32.

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

Insider Activity

In other news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the completion of the transaction, the vice president now owns 5,530 shares of the company’s stock, valued at $1,194,480. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Laura Matlin sold 673 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $216.00, for a total value of $145,368.00. Following the sale, the vice president now directly owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction on 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 completion of the sale, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock valued at $28,112,824 in the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Institutional investors have recently added to or reduced their stakes in the stock. Bogart Wealth LLC lifted its position in Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $32,000. Rothschild Investment LLC bought a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $32,000. New Covenant Trust Company N.A. bought a new stake in Broadridge Financial Solutions during the 1st quarter worth about $34,000. Finally, Family Firm Inc. bought a new stake in Broadridge Financial Solutions during the 2nd quarter worth about $37,000. 90.03% of the stock is 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.