Broadridge Financial Solutions’ (BR) “Neutral” Rating Reiterated at DA Davidson

Broadridge Financial Solutions (NYSE:BR)‘s stock had its “neutral” rating reissued by investment analysts at DA Davidson in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $185.00 price objective on the business services provider’s stock. DA Davidson’s price target suggests a potential downside of 5.86% from the company’s previous close.

Several other brokerages have also recently weighed in on BR. StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Thursday, June 6th. Evercore ISI reiterated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.67.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded down $0.34 on Tuesday, hitting $196.51. The company’s stock had a trading volume of 26,384 shares, compared to its average volume of 517,472. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.39 and a current ratio of 1.39. Broadridge Financial Solutions has a 1 year low of $153.09 and a 1 year high of $210.24. The firm has a fifty day moving average price of $198.37 and a 200-day moving average price of $199.26. The company has a market capitalization of $23.22 billion, a price-to-earnings ratio of 33.72 and a beta of 1.03.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($0.01). Broadridge Financial Solutions had a return on equity of 40.88% and a net margin of 10.92%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadridge Financial Solutions will post 7.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, VP Thomas P. Carey sold 2,500 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.40, for a total value of $501,000.00. Following the transaction, the vice president now owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 3,473 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total value of $687,862.38. Following the completion of the transaction, the director now owns 22,588 shares in the company, valued at $4,473,779.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 2,500 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.40, for a total transaction of $501,000.00. Following the completion of the transaction, the vice president now owns 9,361 shares of the company’s stock, valued at approximately $1,875,944.40. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

Several large investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale boosted its stake in Broadridge Financial Solutions by 5.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock valued at $11,329,000 after acquiring an additional 2,685 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of Broadridge Financial Solutions by 66.4% during the first quarter. Cetera Advisors LLC now owns 9,542 shares of the business services provider’s stock worth $1,955,000 after buying an additional 3,807 shares during the period. Cetera Investment Advisers boosted its stake in shares of Broadridge Financial Solutions by 244.7% during the first quarter. Cetera Investment Advisers now owns 27,070 shares of the business services provider’s stock worth $5,546,000 after buying an additional 19,216 shares during the period. Burney Co. boosted its stake in shares of Broadridge Financial Solutions by 3.8% during the first quarter. Burney Co. now owns 20,443 shares of the business services provider’s stock worth $4,188,000 after buying an additional 751 shares during the period. Finally, Second Line Capital LLC boosted its stake in shares of Broadridge Financial Solutions by 3.5% during the first quarter. Second Line Capital LLC now owns 11,280 shares of the business services provider’s stock worth $2,320,000 after buying an additional 386 shares during the period. 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.