Broadridge Financial Solutions’ (BR) Outperform Rating Reiterated at Royal Bank of Canada

Broadridge Financial Solutions (NYSE:BR)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a research note issued on Monday,Benzinga reports. They presently have a $259.00 target price on the business services provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 7.29% from the company’s current price.

A number of other analysts have also weighed in on BR. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a “buy” rating and a $300.00 price target on the stock. UBS Group upped their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. DA Davidson reiterated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Broadridge Financial Solutions has an average rating of “Hold” and a consensus target price of $250.83.

Broadridge Financial Solutions Stock Performance

Broadridge Financial Solutions stock traded up $0.19 during midday trading on Monday, reaching $241.40. The stock had a trading volume of 62,687 shares, compared to its average volume of 530,098. Broadridge Financial Solutions has a 12 month low of $192.68 and a 12 month high of $247.01. The firm’s 50-day moving average price is $234.22 and its 200 day moving average price is $232.90. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $28.35 billion, a PE ratio of 37.77 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.41 by $0.03. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company earned $2.23 EPS. The company’s revenue was up 5.0% on a year-over-year basis. As a group, research analysts predict that Broadridge Financial Solutions will post 8.53 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Thomas P. Carey sold 3,607 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $237.26, for a total value of $855,796.82. Following the completion of the transaction, the vice president now directly owns 6,077 shares in the company, valued at $1,441,829.02. This trade represents a 37.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the completion of the sale, the director now owns 4,960 shares in the company, valued at approximately $1,180,132.80. This trade represents a 8.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 123,473 shares of company stock worth $29,072,366 in the last quarter. 1.30% of the stock is owned by company insiders.

Institutional Trading of Broadridge Financial Solutions

Hedge funds have recently made changes to their positions in the stock. Merit Financial Group LLC boosted its holdings in Broadridge Financial Solutions by 33.2% in the fourth quarter. Merit Financial Group LLC now owns 7,863 shares of the business services provider’s stock worth $1,778,000 after acquiring an additional 1,959 shares in the last quarter. HB Wealth Management LLC increased its stake in Broadridge Financial Solutions by 35.3% during the 4th quarter. HB Wealth Management LLC now owns 2,957 shares of the business services provider’s stock valued at $669,000 after purchasing an additional 771 shares in the last quarter. LVW Advisors LLC raised its holdings in Broadridge Financial Solutions by 6.8% in the fourth quarter. LVW Advisors LLC now owns 3,971 shares of the business services provider’s stock worth $898,000 after buying an additional 252 shares during the last quarter. Trueblood Wealth Management LLC lifted its stake in shares of Broadridge Financial Solutions by 1.3% in the fourth quarter. Trueblood Wealth Management LLC now owns 6,844 shares of the business services provider’s stock worth $1,547,000 after buying an additional 88 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Broadridge Financial Solutions by 5.5% during the fourth quarter. UMB Bank n.a. now owns 1,097 shares of the business services provider’s stock valued at $248,000 after buying an additional 57 shares during the last quarter. 90.03% of the stock is owned by institutional investors.

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.