Broadridge Financial Solutions’ (BR) Neutral Rating Reiterated at DA Davidson

Broadridge Financial Solutions (NYSE:BR)‘s stock had its “neutral” rating reissued by analysts at DA Davidson in a research report issued on Tuesday,Benzinga reports. They presently have a $215.00 target price on the business services provider’s stock. DA Davidson’s target price would indicate a potential downside of 7.81% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Wolfe Research reiterated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley raised their price target on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 6th. Finally, UBS Group initiated coverage on shares of Broadridge Financial Solutions in a research report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price objective for the company. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus target price of $226.71.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $233.22 on Tuesday. The firm has a market cap of $27.26 billion, a PE ratio of 40.38 and a beta of 1.08. Broadridge Financial Solutions has a 52 week low of $188.30 and a 52 week high of $237.96. The firm’s fifty day moving average is $229.66 and its 200-day moving average is $218.47. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.39 and a current ratio of 1.39.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the company posted $1.09 EPS. The business’s revenue was down .6% on a year-over-year basis. Sell-side analysts predict that Broadridge Financial Solutions will post 8.53 earnings per share for the current year.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 24,185 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total value of $5,325,778.85. Following the completion of the transaction, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. The trade was a 47.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the sale, the vice president now owns 12,689 shares in the company, valued at approximately $2,878,118.98. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,532 shares of company stock valued at $12,264,846. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Qsemble Capital Management LP bought a new position in Broadridge Financial Solutions in the 3rd quarter worth $1,412,000. Atria Investments Inc raised its stake in Broadridge Financial Solutions by 9.7% in the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock worth $6,373,000 after buying an additional 2,610 shares in the last quarter. Horizon Kinetics Asset Management LLC purchased a new stake in Broadridge Financial Solutions in the third quarter worth about $483,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Broadridge Financial Solutions by 53.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider’s stock valued at $2,434,000 after acquiring an additional 3,753 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC grew its holdings in shares of Broadridge Financial Solutions by 82.7% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider’s stock worth $1,528,000 after acquiring an additional 3,216 shares during the period. Hedge funds and other institutional investors own 90.03% of the company’s stock.

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.