Broadridge Financial Solutions (NYSE:BR) Upgraded at StockNews.com

StockNews.com upgraded shares of Broadridge Financial Solutions (NYSE:BR) from a hold rating to a buy rating in a research note released on Friday morning.

Other research analysts have also issued reports about the company. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $213.33.

Broadridge Financial Solutions Trading Down 0.3 %

Shares of Broadridge Financial Solutions stock opened at $210.21 on Friday. Broadridge Financial Solutions has a 1-year low of $171.45 and a 1-year high of $224.32. 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 stock has a market cap of $24.57 billion, a P/E ratio of 35.87 and a beta of 1.05. The stock’s 50 day simple moving average is $213.54 and its 200-day simple moving average is $206.11.

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

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, 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 value of $6,540,242.43. Following the completion of the transaction, the president now owns 67,215 shares in the company, valued at $13,938,374.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Laura Matlin sold 673 shares of the company’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 sale, the vice president now owns 5,530 shares in the company, valued at $1,194,480. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,386 shares of company stock worth $28,112,824. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

Several institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in Broadridge Financial Solutions by 3,197.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 204,366 shares of the business services provider’s stock worth $43,945,000 after buying an additional 198,169 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions in the 3rd quarter valued at about $274,650,000. Earnest Partners LLC raised its position in shares of Broadridge Financial Solutions by 25.9% during the 1st quarter. Earnest Partners LLC now owns 364,195 shares of the business services provider’s stock worth $74,609,000 after acquiring an additional 75,006 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Broadridge Financial Solutions by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 941,125 shares of the business services provider’s stock worth $185,417,000 after purchasing an additional 72,018 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Broadridge Financial Solutions by 97.2% in the first quarter. Canada Pension Plan Investment Board now owns 105,871 shares of the business services provider’s stock valued at $21,689,000 after purchasing an additional 52,171 shares in the last quarter. 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.