Broadridge Financial Solutions (NYSE:BR) Price Target Raised to $181.00

Broadridge Financial Solutions (NYSE:BR) had its price objective boosted by Morgan Stanley from $176.00 to $181.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the business services provider’s stock.

BR has been the topic of a number of other research reports. UBS Group reissued a “neutral” rating and set a $180.00 price objective on shares of Broadridge Financial Solutions in a report on Monday, August 17th. DA Davidson restated a “buy” rating and issued a $214.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, October 27th. Royal Bank Of Canada increased their target price on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Finally, Weiss Ratings raised shares of Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions presently has an average rating of “Moderate Buy” and an average target price of $212.71.

Broadridge Financial Solutions Stock Down 1.9%

Shares of BR traded down $3.71 during mid-day trading on Wednesday, reaching $190.22. The company’s stock had a trading volume of 1,174,335 shares, compared to its average volume of 789,173. Broadridge Financial Solutions has a 12-month low of $133.83 and a 12-month high of $233.10. The stock has a market cap of $21.48 billion, a PE ratio of 21.02 and a beta of 0.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50 day moving average is $172.13 and its 200 day moving average is $165.85.

Broadridge Financial Solutions (NYSE:BR) last posted its earnings results on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.19. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Broadridge Financial Solutions had a return on equity of 40.25% and a net margin of 15.04%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.51 earnings per share. Equities analysts anticipate that Broadridge Financial Solutions will post 10.58 EPS for the current fiscal year.

Insider Activity

In related news, VP Thomas Carey sold 2,501 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $159.76, for a total transaction of $399,559.76. Following the transaction, the vice president owned 8,800 shares in the company, valued at $1,405,888. This trade represents a 22.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kintegral Advisory LLC grew its position in shares of Broadridge Financial Solutions by 0.6% during the third quarter. Kintegral Advisory LLC now owns 10,764 shares of the business services provider’s stock worth $1,746,000 after acquiring an additional 60 shares during the last quarter. Parallel Advisors LLC raised its position in Broadridge Financial Solutions by 3.6% in the 3rd quarter. Parallel Advisors LLC now owns 1,769 shares of the business services provider’s stock valued at $285,000 after purchasing an additional 61 shares during the last quarter. Diversified Trust Co raised its position in Broadridge Financial Solutions by 3.8% in the 3rd quarter. Diversified Trust Co now owns 1,793 shares of the business services provider’s stock valued at $289,000 after purchasing an additional 66 shares during the last quarter. North Dakota State Investment Board boosted its stake in Broadridge Financial Solutions by 1.9% during the 3rd quarter. North Dakota State Investment Board now owns 3,532 shares of the business services provider’s stock worth $569,000 after purchasing an additional 67 shares during the period. Finally, Abel Hall LLC boosted its stake in Broadridge Financial Solutions by 2.4% during the 3rd quarter. Abel Hall LLC now owns 2,935 shares of the business services provider’s stock worth $473,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc (NYSE: BR) is a financial technology and business services company that provides communications, data, and technology solutions to financial institutions, public companies, and investors. Its services support the administration and communication of financial information across the investment lifecycle.

The company’s offerings include investor communications, proxy and corporate governance services, securities processing, trade and portfolio management, and technology platforms for wealth and investment management firms.