Morgan Stanley Boosts Broadridge Financial Solutions (NYSE:BR) Price Target to $222.00

Broadridge Financial Solutions (NYSE:BR) had its price target upped by analysts at Morgan Stanley from $207.00 to $222.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price target suggests a potential downside of 7.81% from the company’s current price.

Several other research analysts also recently issued reports on BR. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 target price on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. DA Davidson reissued a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. UBS Group began coverage on Broadridge Financial Solutions in a report on Thursday, November 21st. They set a “neutral” rating and a $250.00 price target on the stock. Finally, StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $239.17.

Broadridge Financial Solutions Stock Performance

NYSE:BR opened at $240.81 on Monday. Broadridge Financial Solutions has a twelve month low of $188.30 and a twelve month high of $242.03. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock’s 50-day simple moving average is $231.46 and its 200 day simple moving average is $220.84. The firm has a market capitalization of $28.15 billion, a PE ratio of 37.68 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the company posted $0.92 EPS. On average, analysts anticipate that Broadridge Financial Solutions will post 8.55 EPS for the current fiscal year.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 10,757 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the transaction, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. The trade was a 45.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,532 shares of company stock worth $12,264,846. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Qsemble Capital Management LP acquired a new stake in shares of Broadridge Financial Solutions in the 3rd quarter worth about $1,412,000. Atria Investments Inc increased its holdings in Broadridge Financial Solutions by 9.7% during the 3rd quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after purchasing an additional 2,610 shares in the last quarter. Horizon Kinetics Asset Management LLC purchased a new stake in shares of Broadridge Financial Solutions in the third quarter worth approximately $483,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Broadridge Financial Solutions by 53.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after purchasing an additional 3,753 shares in the last quarter. Finally, Miracle Mile Advisors LLC boosted its position in shares of Broadridge Financial Solutions by 98.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock valued at $550,000 after buying an additional 1,204 shares during the last quarter. Institutional investors 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.