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

by · The Cerbat Gem

Royal Bank of Canada reiterated their outperform rating on shares of Broadridge Financial Solutions (NYSE:BR – Free Report) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $246.00 target price on the business services provider’s stock.

BR has been the subject of several other reports. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday. StockNews.com upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.83.

View Our Latest Report on Broadridge Financial Solutions

Broadridge Financial Solutions Stock Up 0.3 %

Shares of BR stock traded up $0.72 during midday trading on Wednesday, reaching $220.18. 81,330 shares of the stock were exchanged, compared to its average volume of 519,017. The firm has a market cap of $25.74 billion, a PE ratio of 37.43 and a beta of 1.05. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The company’s 50 day moving average is $213.86 and its two-hundred day moving average is $206.59. Broadridge Financial Solutions has a 1 year low of $175.21 and a 1 year high of $225.29.

Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. On average, equities research analysts predict that Broadridge Financial Solutions will post 8.51 EPS for the current year.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, President Christopher John Perry sold 17,534 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now directly owns 50,237 shares in the company, valued at $10,721,078.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Leslie A. Brun sold 5,739 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $210.05, for a total value of $1,205,476.95. Following the transaction, the director now owns 77,318 shares of the company’s stock, valued at $16,240,645.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Christopher John Perry sold 17,534 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $213.41, for a total transaction of $3,741,930.94. Following the completion of the sale, the president now directly owns 50,237 shares of the company’s stock, valued at $10,721,078.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,713 shares of company stock valued at $27,967,456. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of hedge funds have recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Broadridge Financial Solutions by 108.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock valued at $17,192,000 after purchasing an additional 43,710 shares during the period. Tidal Investments LLC increased its position in Broadridge Financial Solutions by 99.6% in the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after purchasing an additional 8,837 shares during the last quarter. QRG Capital Management Inc. raised its stake in Broadridge Financial Solutions by 72.7% during the first quarter. QRG Capital Management Inc. now owns 7,009 shares of the business services provider’s stock valued at $1,436,000 after purchasing an additional 2,950 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Broadridge Financial Solutions by 5.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock valued at $11,329,000 after purchasing an additional 2,685 shares during the last quarter. Finally, BDF Gestion purchased a new position in shares of Broadridge Financial Solutions in the 2nd quarter worth $3,954,000. 90.03% of the stock is currently owned by institutional investors.

About Broadridge Financial Solutions

(Get Free Report)

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.

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