Broadridge Financial Solutions (NYSE:BR) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions (NYSE:BR) in a report issued on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $300.00 price target on the business services provider’s stock.

A number of other brokerages have also weighed in on BR. StockNews.com lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Morgan Stanley upped their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, DA Davidson restated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $250.83.

Broadridge Financial Solutions Stock Performance

BR stock opened at $233.63 on Tuesday. Broadridge Financial Solutions has a 1-year low of $188.30 and a 1-year high of $247.01. The business’s 50-day moving average price is $234.32 and its two-hundred day moving average price is $231.49. The firm has a market cap of $27.34 billion, a PE ratio of 36.56 and a beta of 0.98. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the business posted $2.23 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts forecast that Broadridge Financial Solutions will post 8.53 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $237.93, for a total transaction of $115,396.05. Following the transaction, the director now directly owns 4,960 shares of the company’s stock, valued at approximately $1,180,132.80. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brett Keller sold 5,442 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $240.40, for a total transaction of $1,308,256.80. Following the sale, the director now owns 15,536 shares in the company, valued at $3,734,854.40. The trade was a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,240 shares of company stock worth $29,273,611 over the last three months. Insiders own 1.30% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers raised its stake in Broadridge Financial Solutions by 10.7% during the first quarter. Cetera Investment Advisers now owns 31,322 shares of the business services provider’s stock worth $7,594,000 after acquiring an additional 3,037 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Broadridge Financial Solutions by 3.7% during the first quarter. Avantax Advisory Services Inc. now owns 11,627 shares of the business services provider’s stock worth $2,819,000 after buying an additional 416 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in Broadridge Financial Solutions by 3.8% in the 1st quarter. Gilbert & Cook Inc. now owns 1,432 shares of the business services provider’s stock worth $347,000 after purchasing an additional 53 shares in the last quarter. Hamilton Point Investment Advisors LLC boosted its position in Broadridge Financial Solutions by 0.3% during the 1st quarter. Hamilton Point Investment Advisors LLC now owns 23,277 shares of the business services provider’s stock worth $5,664,000 after buying an additional 60 shares during the period. Finally, Advisor OS LLC grew its stake in shares of Broadridge Financial Solutions by 7.7% in the first quarter. Advisor OS LLC now owns 1,221 shares of the business services provider’s stock worth $296,000 after purchasing an additional 87 shares during the last quarter. 90.03% of the stock is currently 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.