StockNews.com Upgrades Broadridge Financial Solutions (NYSE:BR) to Buy

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

BR has been the topic of several other reports. Royal Bank of Canada restated an “outperform” rating and issued a $239.00 price objective on shares of Broadridge Financial Solutions in a report on Friday, June 28th. DA Davidson reiterated a “neutral” rating and issued a $185.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, June 11th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $230.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions has an average rating of “Moderate Buy” and an average price target of $206.67.

Broadridge Financial Solutions Trading Up 0.9 %

NYSE BR traded up $1.82 during trading hours on Friday, hitting $205.29. The company’s stock had a trading volume of 336,693 shares, compared to its average volume of 504,543. The stock has a fifty day moving average of $199.20 and a 200 day moving average of $200.24. Broadridge Financial Solutions has a twelve month low of $164.99 and a twelve month high of $210.24. The firm has a market capitalization of $24.26 billion, a P/E ratio of 35.03 and a beta of 1.04. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Broadridge Financial Solutions will post 7.72 earnings per share for the current fiscal year.

Insider Transactions at Broadridge Financial Solutions

In other news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the sale, the vice president now owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Thomas P. Carey sold 2,500 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total value of $501,000.00. Following the completion of the transaction, the vice president now owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert N. Duelks sold 3,473 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the transaction, the director now directly owns 22,588 shares of the company’s stock, valued at approximately $4,473,779.28. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. New England Research & Management Inc. bought a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at about $1,465,000. Nordea Investment Management AB grew its position in shares of Broadridge Financial Solutions by 680.1% in the 4th quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock valued at $17,584,000 after acquiring an additional 74,387 shares during the period. International Assets Investment Management LLC bought a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $227,750,000. Bank of Nova Scotia lifted its stake in shares of Broadridge Financial Solutions by 642.3% during the 4th quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock worth $16,707,000 after buying an additional 70,263 shares during the last quarter. Finally, Crown Oak Advisors LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth about $7,032,000. Institutional investors own 90.03% of the company’s stock.

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.