8,153 Shares in Broadridge Financial Solutions, Inc. $BR Acquired by SummitTX Capital L.P.

SummitTX Capital L.P. acquired a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,153 shares of the business services provider’s stock, valued at approximately $1,325,000.

Several other large investors have also recently bought and sold shares of the company. Patton Fund Management Inc. boosted its position in shares of Broadridge Financial Solutions by 5.3% during the fourth quarter. Patton Fund Management Inc. now owns 974 shares of the business services provider’s stock worth $217,000 after purchasing an additional 49 shares in the last quarter. Great Valley Advisor Group Inc. grew its holdings in shares of Broadridge Financial Solutions by 5.3% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 994 shares of the business services provider’s stock valued at $242,000 after buying an additional 50 shares during the period. Moneta Group Investment Advisors LLC increased its position in shares of Broadridge Financial Solutions by 3.9% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 1,608 shares of the business services provider’s stock valued at $383,000 after buying an additional 61 shares in the last quarter. WPG Advisers LLC increased its position in shares of Broadridge Financial Solutions by 77.5% in the 4th quarter. WPG Advisers LLC now owns 142 shares of the business services provider’s stock valued at $32,000 after buying an additional 62 shares in the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC raised its stake in Broadridge Financial Solutions by 0.3% during the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 18,895 shares of the business services provider’s stock worth $4,217,000 after buying an additional 62 shares during the period. Institutional investors own 90.03% of the company’s stock.

Analysts Set New Price Targets

BR has been the topic of several recent analyst reports. DA Davidson reduced their target price on Broadridge Financial Solutions from $228.00 to $214.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. UBS Group lowered their price target on Broadridge Financial Solutions from $250.00 to $165.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Weiss Ratings lowered Broadridge Financial Solutions from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Needham & Company LLC cut their price objective on Broadridge Financial Solutions from $255.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, June 22nd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $221.57.

Insider Activity

In related news, insider Hope M. Jarkowski sold 1,966 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $155.00, for a total value of $304,730.00. Following the sale, the insider owned 1 shares of the company’s stock, valued at approximately $155. This trade represents a 99.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Trading Up 0.7%

BR opened at $159.35 on Thursday. The stock has a market capitalization of $18.43 billion, a P/E ratio of 17.06 and a beta of 0.89. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.97. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $271.91. The firm’s fifty day simple moving average is $146.63 and its 200 day simple moving average is $165.42.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.09. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.90 billion. Broadridge Financial Solutions had a return on equity of 40.14% and a net margin of 15.03%.The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. As a group, research analysts anticipate that Broadridge Financial Solutions, Inc. will post 9.55 EPS for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, June 12th. Broadridge Financial Solutions’s dividend payout ratio is currently 41.76%.

About Broadridge Financial Solutions

Broadridge Financial Solutions is a global fintech company that provides technology-driven solutions and outsourcing services to the financial services industry. The firm’s core offerings center on investor communications, securities processing and post-trade services, and technology platforms that support capital markets and wealth management operations. Broadridge positions itself as a provider of mission-critical infrastructure that helps financial institutions manage regulatory requirements, investor engagement and operational complexity.

Products and services include proxy and shareholder communications, investor disclosure and digital communications, proxy voting and tabulation, clearing and settlement support, trade processing and reconciliation, and a range of software-as-a-service platforms for wealth and asset managers.