Broadridge Financial Solutions (NYSE:BR) Price Target Raised to $207.00

Broadridge Financial Solutions (NYSE:BR) had its price objective hoisted by Morgan Stanley from $200.00 to $207.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Several other equities analysts have also issued reports on BR. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada upped their price objective on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $217.83.

Broadridge Financial Solutions Price Performance

BR stock opened at $225.36 on Wednesday. The firm has a market cap of $26.34 billion, a price-to-earnings ratio of 38.46 and a beta of 1.05. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions has a 12-month low of $175.21 and a 12-month high of $226.16. The company’s fifty day simple moving average is $214.29 and its 200 day simple moving average is $206.90.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. Broadridge Financial Solutions’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share. On average, analysts expect that Broadridge Financial Solutions will post 8.51 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 27,137 shares of the company’s stock, valued at $5,975,838.77. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 157,898 shares of company stock worth $33,293,234 in the last quarter. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC grew its position in Broadridge Financial Solutions by 94.8% in the 3rd quarter. Intech Investment Management LLC now owns 52,471 shares of the business services provider’s stock worth $11,283,000 after purchasing an additional 25,539 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Broadridge Financial Solutions by 5.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,497 shares of the business services provider’s stock worth $22,685,000 after purchasing an additional 5,818 shares in the last quarter. First Horizon Advisors Inc. grew its position in Broadridge Financial Solutions by 16.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,105 shares of the business services provider’s stock worth $238,000 after purchasing an additional 160 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at approximately $4,407,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at approximately $51,000. 90.03% of the stock is owned by institutional investors.

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.