Broadridge Financial Solutions (NYSE:BR – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
Several other research analysts also recently weighed in on BR. Evercore ISI upped their price target on Broadridge Financial Solutions from $226.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 5th. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $190.00 to $212.00 and gave the company an “outperform” rating in a research report on Friday, December 8th. Wolfe Research upgraded Broadridge Financial Solutions from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, October 17th. Finally, Morgan Stanley increased their target price on Broadridge Financial Solutions from $175.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, December 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and an average target price of $194.00.
Broadridge Financial Solutions Price Performance
BR stock traded up $1.39 during midday trading on Monday, hitting $202.60. The company’s stock had a trading volume of 300,200 shares, compared to its average volume of 421,989. Broadridge Financial Solutions has a 12 month low of $133.97 and a 12 month high of $207.29. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $23.84 billion, a price-to-earnings ratio of 35.99 and a beta of 0.99. The company has a 50 day moving average of $192.68 and a two-hundred day moving average of $182.31.
Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its quarterly earnings results on Thursday, November 2nd. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.15. Broadridge Financial Solutions had a return on equity of 42.48% and a net margin of 10.81%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.37 billion. On average, analysts expect that Broadridge Financial Solutions will post 7.72 EPS for the current year.
Insiders Place Their Bets
In other Broadridge Financial Solutions news, President Christopher John Perry sold 5,069 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $205.32, for a total value of $1,040,767.08. Following the sale, the president now owns 59,651 shares in the company, valued at $12,247,543.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Laura Matlin sold 4,090 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $189.49, for a total transaction of $775,014.10. Following the transaction, the vice president now owns 6,481 shares in the company, valued at $1,228,084.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Christopher John Perry sold 5,069 shares of the firm’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $205.32, for a total value of $1,040,767.08. Following the transaction, the president now owns 59,651 shares in the company, valued at approximately $12,247,543.32. The disclosure for this sale can be found here. Insiders have sold a total of 42,909 shares of company stock worth $8,003,375 over the last quarter. Company insiders own 1.60% of the company’s stock.
Institutional Investors Weigh In On Broadridge Financial Solutions
Institutional investors have recently added to or reduced their stakes in the stock. Walter Public Investments Inc. boosted its position in Broadridge Financial Solutions by 1.3% during the second quarter. Walter Public Investments Inc. now owns 86,064 shares of the business services provider’s stock valued at $14,255,000 after purchasing an additional 1,112 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Broadridge Financial Solutions in the first quarter worth about $207,000. First Horizon Advisors Inc. boosted its holdings in Broadridge Financial Solutions by 14.0% in the second quarter. First Horizon Advisors Inc. now owns 807 shares of the business services provider’s stock worth $134,000 after acquiring an additional 99 shares in the last quarter. Premier Fund Managers Ltd acquired a new stake in Broadridge Financial Solutions in the second quarter worth about $27,760,000. Finally, Empower Advisory Group LLC acquired a new stake in Broadridge Financial Solutions in the first quarter worth about $248,000. Institutional investors own 89.36% 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.