Broadridge Financial Solutions (NYSE:BR) Lifted to “Buy” at StockNews.com

Broadridge Financial Solutions (NYSE:BR) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

A number of other research firms have also recently weighed in on BR. Royal Bank of Canada boosted their target price on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.33.

Broadridge Financial Solutions Stock Up 0.2 %

BR stock opened at $221.91 on Wednesday. Broadridge Financial Solutions has a 1-year low of $166.73 and a 1-year high of $224.32. The firm has a market capitalization of $26.23 billion, a PE ratio of 37.87 and a beta of 1.05. The business’s 50 day simple moving average is $212.35 and its 200 day simple moving average is $204.83. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55.

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

Insider Transactions at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the sale, the president now owns 50,237 shares in the company, valued at $10,721,078.17. 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 this link. In other news, CEO Timothy C. Gokey sold 25,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Christopher John Perry sold 17,534 shares of Broadridge Financial Solutions stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the transaction, the president now directly owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,386 shares of company stock worth $28,112,824. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the business. EdgeRock Capital LLC purchased a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $32,000. Rothschild Investment LLC purchased a new stake in shares of Broadridge Financial Solutions in the second quarter worth $32,000. New Covenant Trust Company N.A. bought a new position in shares of Broadridge Financial Solutions during the first quarter valued at $34,000. Family Firm Inc. purchased a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth about $37,000. Finally, Anfield Capital Management LLC bought a new position in Broadridge Financial Solutions in the 2nd quarter worth about $39,000. Institutional investors own 90.03% of the company’s stock.

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.