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

StockNews.com upgraded shares of Broadridge Financial Solutions (NYSE:BR) from a hold rating to a buy rating in a research report released on Friday morning.

Several other research firms have also recently weighed in on BR. Royal Bank of Canada increased their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $213.33.

Broadridge Financial Solutions Price Performance

Shares of BR opened at $209.64 on Friday. 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 firm has a market cap of $24.50 billion, a PE ratio of 35.88 and a beta of 1.05. Broadridge Financial Solutions has a twelve month low of $175.21 and a twelve month high of $224.32. The firm’s 50 day moving average price is $213.54 and its 200 day moving average price is $206.20.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.01. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company posted $3.21 EPS. The firm’s revenue was up 5.7% on a year-over-year basis. As a group, research analysts expect that Broadridge Financial Solutions will post 8.51 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the sale, the chief executive officer now directly owns 200,675 shares in the company, valued at approximately $41,963,149.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Timothy C. Gokey sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $209.11, for a total value of $5,227,750.00. Following the completion of the sale, the chief executive officer now owns 200,675 shares of the company’s stock, valued at $41,963,149.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Laura Matlin sold 673 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $216.00, for a total value of $145,368.00. Following the transaction, the vice president now directly owns 5,530 shares in the company, valued at approximately $1,194,480. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,386 shares of company stock worth $28,112,824 in the last three months. Insiders own 1.30% of the company’s stock.

Institutional Trading of Broadridge Financial Solutions

Several institutional investors and hedge funds have recently made changes to their positions in BR. Bogart Wealth LLC increased its stake in Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions during the second quarter worth about $32,000. Rothschild Investment LLC acquired a new position in Broadridge Financial Solutions in the second quarter valued at about $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions in the first quarter worth about $34,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth about $38,000. Institutional investors own 90.03% of the company’s stock.

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.