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

Royal Bank of Canada reaffirmed their outperform rating on shares of Broadridge Financial Solutions (NYSE:BR) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $246.00 target price on the business services provider’s stock.

BR has been the subject of a number of other research reports. Morgan Stanley increased their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Wednesday. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $217.83.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $225.21 on Wednesday. The business’s 50-day moving average price is $214.29 and its 200 day moving average price is $206.98. Broadridge Financial Solutions has a twelve month low of $175.21 and a twelve month high of $226.16. The company has a market capitalization of $26.32 billion, a PE ratio of 38.96 and a beta of 1.05. The company has a current ratio of 1.39, a quick ratio of 1.08 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the business posted $1.09 EPS. On average, research analysts predict that Broadridge Financial Solutions will post 8.51 earnings per share for the current year.

Insider Buying and Selling at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 162 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $210.00, for a total transaction of $34,020.00. Following the completion of the sale, the president now owns 67,267 shares in the company, valued at $14,126,070. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Christopher John Perry sold 162 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $210.00, for a total value of $34,020.00. Following the completion of the transaction, the president now owns 67,267 shares in the company, valued at approximately $14,126,070. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, November 7th. The stock was 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 approximately $5,975,838.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,898 shares of company stock worth $33,293,234 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Broadridge Financial Solutions by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 13,991,206 shares of the business services provider’s stock worth $2,866,238,000 after acquiring an additional 39,537 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Broadridge Financial Solutions by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,168,197 shares of the business services provider’s stock worth $853,898,000 after purchasing an additional 28,180 shares during the last quarter. Capital International Investors lifted its holdings in shares of Broadridge Financial Solutions by 0.3% in the 1st quarter. Capital International Investors now owns 3,061,983 shares of the business services provider’s stock worth $627,278,000 after purchasing an additional 7,970 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Broadridge Financial Solutions by 3.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,496,678 shares of the business services provider’s stock worth $306,609,000 after purchasing an additional 43,958 shares during the last quarter. Finally, Bahl & Gaynor Inc. lifted its holdings in shares of Broadridge Financial Solutions by 0.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,108,867 shares of the business services provider’s stock worth $218,447,000 after purchasing an additional 6,634 shares during the last quarter. Institutional investors and hedge funds 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.