Broadridge Financial Solutions (NYSE:BR) Upgraded by StockNews.com to Buy Rating

Broadridge Financial Solutions (NYSE:BR) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

BR has been the topic of a number of other research reports. Royal Bank of Canada boosted their price objective on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their price target on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their price objective on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. UBS Group increased their target price on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, DA Davidson restated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $250.83.

Broadridge Financial Solutions Stock Performance

BR stock opened at $236.92 on Friday. The company has a 50-day simple moving average of $233.94 and a 200 day simple moving average of $231.89. The company has a market capitalization of $27.83 billion, a P/E ratio of 37.08 and a beta of 0.98. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions has a fifty-two week low of $192.68 and a fifty-two week high of $247.01.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the business posted $2.23 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Broadridge Financial Solutions will post 8.53 earnings per share for the current fiscal year.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 22,357 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the completion of the sale, the president now directly owns 52,524 shares in the company, valued at approximately $12,355,220.52. This trade represents a 29.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the transaction, the director now owns 4,960 shares in the company, valued at $1,180,132.80. This represents a 8.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,866 shares of company stock worth $28,216,569. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Institutional investors and hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in Broadridge Financial Solutions in the 1st quarter worth about $29,000. Whipplewood Advisors LLC increased its holdings in Broadridge Financial Solutions by 2,620.0% in the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock worth $33,000 after buying an additional 131 shares during the last quarter. Continuum Advisory LLC raised its position in Broadridge Financial Solutions by 48.4% during the first quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 46 shares in the last quarter. Olde Wealth Management LLC acquired a new stake in Broadridge Financial Solutions in the first quarter valued at approximately $36,000. Finally, Minot DeBlois Advisors LLC bought a new stake in Broadridge Financial Solutions in the fourth quarter worth approximately $34,000. 90.03% of the stock is currently owned by hedge funds and other 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.