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

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

Several other brokerages have also weighed in on BR. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. DA Davidson restated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, UBS Group raised their target price on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has a consensus rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Stock Performance

Shares of Broadridge Financial Solutions stock traded down $0.34 during trading hours on Wednesday, hitting $238.82. 595,494 shares of the company’s stock traded hands, compared to its average volume of 465,675. Broadridge Financial Solutions has a 12-month low of $188.30 and a 12-month high of $244.47. The stock has a market capitalization of $27.95 billion, a price-to-earnings ratio of 37.37 and a beta of 1.08. The company has a fifty day simple moving average of $232.75 and a 200-day simple moving average of $223.09. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period last year, the company posted $0.92 earnings per share. Equities research analysts anticipate that Broadridge Financial Solutions will post 8.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Laura Matlin sold 514 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $241.60, for a total value of $124,182.40. Following the completion of the sale, the vice president now owns 6,602 shares in the company, valued at $1,595,043.20. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brett Keller sold 5,442 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the completion of the transaction, the director now directly owns 15,536 shares in the company, valued at $3,734,854.40. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,666 shares of company stock worth $5,050,766 in the last quarter. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Large investors have recently bought and sold shares of the stock. Qsemble Capital Management LP purchased a new position in Broadridge Financial Solutions in the 3rd quarter worth approximately $1,412,000. Atria Investments Inc increased its stake in Broadridge Financial Solutions by 9.7% in 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 during the period. Horizon Kinetics Asset Management LLC purchased a new position in Broadridge Financial Solutions in the 3rd quarter worth approximately $483,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in Broadridge Financial Solutions by 53.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock worth $2,434,000 after purchasing an additional 3,753 shares during the period. Finally, Miracle Mile Advisors LLC increased its stake in Broadridge Financial Solutions by 98.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider’s stock worth $550,000 after purchasing an additional 1,204 shares during the period. 90.03% of the stock is owned by hedge funds and other institutional investors.

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.