Alta Capital Management LLC Sells 1,787 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Alta Capital Management LLC lowered its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,358 shares of the business services provider’s stock after selling 1,787 shares during the quarter. Broadridge Financial Solutions accounts for approximately 1.1% of Alta Capital Management LLC’s portfolio, making the stock its 27th largest position. Alta Capital Management LLC’s holdings in Broadridge Financial Solutions were worth $19,073,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Broadridge Financial Solutions by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 684,789 shares of the business services provider’s stock valued at $154,824,000 after acquiring an additional 23,376 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Broadridge Financial Solutions by 10.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,178 shares of the business services provider’s stock valued at $3,205,000 after purchasing an additional 1,312 shares during the period. Woodley Farra Manion Portfolio Management Inc. grew its position in Broadridge Financial Solutions by 1.7% in the 4th quarter. Woodley Farra Manion Portfolio Management Inc. now owns 18,267 shares of the business services provider’s stock valued at $4,146,000 after purchasing an additional 304 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Broadridge Financial Solutions in the 4th quarter valued at $79,000. Finally, Jones Financial Companies Lllp grew its position in Broadridge Financial Solutions by 33.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,353 shares of the business services provider’s stock valued at $758,000 after purchasing an additional 839 shares during the period. Institutional investors own 90.03% of the company’s stock.

Insider Transactions at Broadridge Financial Solutions

In related news, Director Brett Keller sold 5,442 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $240.40, for a total value of $1,308,256.80. Following the sale, the director now directly owns 15,536 shares in the company, valued at approximately $3,734,854.40. The trade was a 25.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the business’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 sale, the director now owns 4,960 shares in the company, valued at $1,180,132.80. This represents a 8.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,441 shares of company stock worth $1,547,835 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. DA Davidson reissued a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Morgan Stanley lifted their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. UBS Group lifted their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Royal Bank of Canada lifted their price objective on shares of Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $239.17.

Broadridge Financial Solutions Price Performance

BR opened at $244.62 on Tuesday. The company has a market capitalization of $28.63 billion, a price-to-earnings ratio of 38.28 and a beta of 1.08. Broadridge Financial Solutions, Inc. has a 1 year low of $188.30 and a 1 year high of $246.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The firm’s fifty day moving average price is $234.25 and its two-hundred day moving average price is $224.62.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same quarter in the previous year, the business posted $0.92 EPS. As a group, analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Thursday, March 13th. Broadridge Financial Solutions’s payout ratio is 55.09%.

Broadridge Financial Solutions 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.