Broadridge Financial Solutions, Inc. (NYSE:BR) Short Interest Update

Broadridge Financial Solutions, Inc. (NYSE:BR) saw a significant decline in short interest in September. As of September 30th, there was short interest totalling 1,000,000 shares, a decline of 39.0% from the September 15th total of 1,640,000 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 493,200 shares, the short-interest ratio is presently 2.0 days.

Shares of NYSE:BR traded up $0.07 during mid-day trading on Friday, reaching $143.34. The stock had a trading volume of 381,617 shares, compared to its average volume of 755,293. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The company has a market cap of $16.51 billion, a P/E ratio of 36.11 and a beta of 0.89. Broadridge Financial Solutions has a 1 year low of $81.90 and a 1 year high of $145.14. The business’s 50 day moving average price is $135.53 and its 200 day moving average price is $124.98.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, August 11th. The business services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.06. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.32 billion. Broadridge Financial Solutions had a return on equity of 48.87% and a net margin of 10.21%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.72 earnings per share. Analysts predict that Broadridge Financial Solutions will post 5.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.575 per share. This is a boost from Broadridge Financial Solutions’s previous quarterly dividend of $0.54. This represents a $2.30 annualized dividend and a yield of 1.60%. The ex-dividend date was Monday, September 14th. Broadridge Financial Solutions’s payout ratio is presently 45.73%.

BR has been the topic of several research analyst reports. Raymond James boosted their price objective on Broadridge Financial Solutions from $126.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. DA Davidson downgraded Broadridge Financial Solutions from a “buy” rating to a “neutral” rating and set a $138.00 price objective on the stock. in a research report on Wednesday, August 5th. They noted that the move was a valuation call. BTIG Research downgraded Broadridge Financial Solutions from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price objective on Broadridge Financial Solutions from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. Finally, Rosenblatt Securities boosted their price objective on Broadridge Financial Solutions from $112.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $136.67.

In related news, SVP Robert Schifellite sold 15,241 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $140.72, for a total transaction of $2,144,713.52. Also, CEO Timothy C. Gokey sold 91,238 shares of Broadridge Financial Solutions stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $127.76, for a total value of $11,656,566.88. Following the transaction, the chief executive officer now owns 201,329 shares in the company, valued at $25,721,793.04. The disclosure for this sale can be found here. Insiders have sold 242,677 shares of company stock worth $32,420,935 over the last quarter. 2.00% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CX Institutional increased its stake in Broadridge Financial Solutions by 9.9% during the second quarter. CX Institutional now owns 897 shares of the business services provider’s stock worth $113,000 after acquiring an additional 81 shares during the last quarter. Winslow Evans & Crocker Inc. increased its stake in Broadridge Financial Solutions by 7.4% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,269 shares of the business services provider’s stock worth $161,000 after acquiring an additional 87 shares during the last quarter. Alpha Windward LLC increased its stake in Broadridge Financial Solutions by 21.6% during the second quarter. Alpha Windward LLC now owns 517 shares of the business services provider’s stock worth $65,000 after acquiring an additional 92 shares during the last quarter. Glenmede Trust Co. NA increased its stake in Broadridge Financial Solutions by 7.0% during the second quarter. Glenmede Trust Co. NA now owns 1,444 shares of the business services provider’s stock worth $181,000 after acquiring an additional 95 shares during the last quarter. Finally, Naples Global Advisors LLC increased its stake in Broadridge Financial Solutions by 4.3% during the second quarter. Naples Global Advisors LLC now owns 2,405 shares of the business services provider’s stock worth $303,000 after acquiring an additional 100 shares during the last quarter. 85.92% 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 worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

Recommended Story: What is Cost of Debt?

Receive News & Ratings for Broadridge Financial Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions and related companies with MarketBeat.com's FREE daily email newsletter.