Broadridge Financial Solutions (NYSE:BR) Stock Rating Upgraded by StockNews.com

Broadridge Financial Solutions (NYSE:BR) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

BR has been the subject of several other reports. Raymond James boosted their target price on shares of Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. DA Davidson restated a “neutral” rating and set a $185.00 target price on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Evercore ISI reiterated an “outperform” rating and issued a $230.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada upped their price objective on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $206.67.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $198.85 on Friday. The business has a fifty day moving average price of $200.27 and a two-hundred day moving average price of $195.29. The stock has a market capitalization of $23.42 billion, a PE ratio of 34.64 and a beta of 0.98. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. Broadridge Financial Solutions has a fifty-two week low of $144.54 and a fifty-two week high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the business earned $0.91 earnings per share. Broadridge Financial Solutions’s revenue was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Broadridge Financial Solutions will post 7.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the transaction, the director now owns 5,445 shares of the company’s stock, valued at $1,097,603.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the transaction, the vice president now directly owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert N. Duelks sold 830 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the sale, the director now owns 5,445 shares in the company, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. Insiders have sold 48,483 shares of company stock worth $9,745,637 in the last 90 days. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

Hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB raised its holdings in Broadridge Financial Solutions by 680.1% during the 4th quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock worth $17,584,000 after purchasing an additional 74,387 shares during the last quarter. International Assets Investment Management LLC bought a new position in Broadridge Financial Solutions during the fourth quarter worth $227,750,000. Crown Oak Advisors LLC acquired a new position in Broadridge Financial Solutions in the fourth quarter valued at $7,032,000. Comerica Bank bought a new stake in Broadridge Financial Solutions during the third quarter valued at $8,116,000. Finally, Cornercap Investment Counsel Inc. acquired a new stake in Broadridge Financial Solutions during the 4th quarter worth about $1,089,000. 90.03% of the stock is currently owned by institutional investors.

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.