Broadridge Financial Solutions (NYSE:BR) Receives Outperform Rating from Royal Bank of Canada

Broadridge Financial Solutions (NYSE:BR)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a report released on Wednesday, Benzinga reports. They presently have a $246.00 price target on the business services provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 13.30% from the company’s current price.

A number of other brokerages have also issued reports on BR. Morgan Stanley upped their target price on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. increased 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. Finally, StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and an average price target of $217.83.

Broadridge Financial Solutions Price Performance

Broadridge Financial Solutions stock traded down $1.17 during trading hours on Wednesday, hitting $217.13. 186,332 shares of the stock were exchanged, compared to its average volume of 518,414. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $25.38 billion, a P/E ratio of 37.05 and a beta of 1.05. Broadridge Financial Solutions has a 12 month low of $175.21 and a 12 month high of $225.18. The business’s 50-day moving average is $213.71 and its two-hundred day moving average is $206.50.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 earnings per share. Equities research analysts expect that Broadridge Financial Solutions will post 8.51 EPS for the current fiscal year.

Insider Transactions at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Christopher John Perry sold 17,534 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the transaction, the president now directly owns 50,237 shares in the company, valued at approximately $10,721,078.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,386 shares of company stock worth $28,112,824. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Zions Bancorporation N.A. grew its holdings in shares of Broadridge Financial Solutions by 16.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 7,666 shares of the business services provider’s stock valued at $1,648,000 after purchasing an additional 1,058 shares during the last quarter. Huntington National Bank lifted its position in shares of Broadridge Financial Solutions by 2.8% in the 3rd quarter. Huntington National Bank now owns 2,233 shares of the business services provider’s stock worth $480,000 after purchasing an additional 61 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Broadridge Financial Solutions by 3.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 4,847 shares of the business services provider’s stock valued at $1,042,000 after acquiring an additional 180 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Broadridge Financial Solutions by 1.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 12,892 shares of the business services provider’s stock valued at $2,772,000 after acquiring an additional 194 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Broadridge Financial Solutions by 6.0% during the third quarter. Victory Capital Management Inc. now owns 50,736 shares of the business services provider’s stock worth $10,910,000 after buying an additional 2,871 shares during the last quarter. 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.