Broadridge Financial Solutions (NYSE:BR) Earns “Outperform” Rating from Royal Bank of Canada

Broadridge Financial Solutions (NYSE:BR)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research report issued on Wednesday, Benzinga reports. They presently have a $246.00 target price on the business services provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 13.30% from the company’s current price.

A number of other research analysts have also issued reports on BR. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley upped their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.83.

Broadridge Financial Solutions Stock Down 0.5 %

Shares of NYSE:BR traded down $1.17 during midday trading on Wednesday, hitting $217.13. 186,332 shares of the company’s stock traded hands, compared to its average volume of 518,414. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $25.38 billion, a PE ratio of 37.05 and a beta of 1.05. The firm’s fifty day moving average price is $213.71 and its two-hundred day moving average price is $206.50. Broadridge Financial Solutions has a twelve month low of $175.21 and a twelve month high of $225.18.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a net margin of 10.73% and a return on equity of 42.77%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. The company’s revenue was down .6% on a year-over-year basis. On average, equities research analysts anticipate that Broadridge Financial Solutions will post 8.51 EPS for the current fiscal year.

Insider Activity at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 17,534 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $213.41, for a total value of $3,741,930.94. Following the transaction, the president now owns 50,237 shares in the company, valued at approximately $10,721,078.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard J. Daly sold 21,938 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $207.66, for a total transaction of $4,555,645.08. Following the transaction, the chairman now owns 105,094 shares in the company, valued at approximately $21,823,820.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,386 shares of company stock valued at $28,112,824 over the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Large investors have recently modified their holdings of the company. Bogart Wealth LLC boosted its holdings in shares of Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after buying an additional 96 shares during the period. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions in the 2nd quarter valued at $32,000. Rothschild Investment LLC bought a new stake in Broadridge Financial Solutions in the 2nd quarter valued at $32,000. New Covenant Trust Company N.A. bought a new stake in Broadridge Financial Solutions in the 1st quarter valued at $34,000. Finally, Hazlett Burt & Watson Inc. bought a new stake in Broadridge Financial Solutions in the 3rd quarter valued at $38,000. 90.03% of the stock is owned by institutional investors.

About Broadridge Financial Solutions

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.