Analysts Set Broadridge Financial Solutions, Inc. (NYSE:BR) Target Price at $213.33

Broadridge Financial Solutions, Inc. (NYSE:BR) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $213.33.

BR has been the subject of a number of recent analyst reports. StockNews.com raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, 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 research note on Wednesday, August 7th.

Insider Buying and Selling

In other news, President Christopher John Perry sold 162 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the transaction, the president now directly owns 67,267 shares in the company, valued at approximately $14,126,070. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $207.66, for a total value of $4,555,645.08. Following the completion of the transaction, the chairman now owns 105,094 shares of the company’s stock, valued at approximately $21,823,820.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Christopher John Perry sold 162 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the sale, the president now directly owns 67,267 shares in the company, valued at approximately $14,126,070. 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 quarter, insiders have sold 134,386 shares of company stock valued at $28,112,824. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several large investors have recently made changes to their positions in BR. Bogart Wealth LLC lifted its holdings in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. EdgeRock Capital LLC purchased a new stake in shares of Broadridge Financial Solutions in the second quarter worth about $32,000. Rothschild Investment LLC purchased a new position in Broadridge Financial Solutions during the 2nd quarter valued at approximately $32,000. New Covenant Trust Company N.A. purchased a new position in Broadridge Financial Solutions in the first quarter worth about $34,000. Finally, Family Firm Inc. purchased a new stake in shares of Broadridge Financial Solutions in the second quarter valued at $37,000. 90.03% of the stock is currently owned by hedge funds and other institutional investors.

Broadridge Financial Solutions Stock Performance

BR stock opened at $209.64 on Friday. The firm has a market cap of $24.50 billion, a PE ratio of 35.88 and a beta of 1.05. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The business’s 50-day moving average price is $213.54 and its two-hundred day moving average price is $206.20. Broadridge Financial Solutions has a 1-year low of $175.21 and a 1-year high of $224.32.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. During the same quarter in the prior year, the business posted $3.21 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. As a group, research analysts forecast that Broadridge Financial Solutions will post 8.51 earnings per share for the current year.

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.