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

Broadridge Financial Solutions (NYSE:BR) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada increased their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Three 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock opened at $210.86 on Friday. 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 business has a 50 day simple moving average of $213.51 and a two-hundred day simple moving average of $205.89. The stock has a market capitalization of $24.92 billion, a P/E ratio of 35.98 and a beta of 1.05. Broadridge Financial Solutions has a 12 month low of $168.76 and a 12 month high of $224.32.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results 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. 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 for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the company posted $3.21 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, analysts predict that Broadridge Financial Solutions will post 8.51 EPS for the current fiscal year.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was 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 of the company’s stock, valued at approximately $10,721,078.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at approximately $41,963,149.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the president now directly owns 50,237 shares of the company’s stock, valued at approximately $10,721,078.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock valued at $28,112,824 in the last ninety days. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC raised its position 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 purchasing an additional 96 shares during the period. EdgeRock Capital LLC bought a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth approximately $32,000. Rothschild Investment LLC bought a new stake in Broadridge Financial Solutions in the second quarter valued at $32,000. New Covenant Trust Company N.A. bought a new stake in Broadridge Financial Solutions in the 1st quarter valued at about $34,000. Finally, Family Firm Inc. acquired a new position in shares of Broadridge Financial Solutions during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

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.