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

Broadridge Financial Solutions (NYSE:BR) had its price objective raised by Morgan Stanley from $200.00 to $207.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s target price would suggest a potential downside of 5.18% from the stock’s previous close.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Royal Bank of Canada upped their price objective on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.83.

Broadridge Financial Solutions Stock Performance

BR opened at $218.30 on Wednesday. The firm has a market cap of $25.52 billion, a P/E ratio of 37.25 and a beta of 1.05. Broadridge Financial Solutions has a 1-year low of $175.21 and a 1-year high of $224.32. The company has a 50 day simple moving average of $213.71 and a two-hundred day simple moving average of $206.50. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.00. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share. Equities analysts forecast that Broadridge Financial Solutions will post 8.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares in the company, valued at approximately $13,938,374.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Laura Matlin sold 673 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total transaction of $145,368.00. Following the transaction, the vice president now owns 5,530 shares of the company’s stock, valued at approximately $1,194,480. This 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 this link. Also, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions 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 owns 67,215 shares of the company’s stock, valued at $13,938,374.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,386 shares of company stock worth $28,112,824 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC increased its holdings in shares of Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. EdgeRock Capital LLC purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter valued at $32,000. Rothschild Investment LLC acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter worth $32,000. New Covenant Trust Company N.A. purchased a new position in Broadridge Financial Solutions during the 1st quarter worth $34,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in Broadridge Financial Solutions during the 3rd quarter valued at about $38,000. 90.03% of the stock is currently owned by 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.