Broadridge Financial Solutions, Inc. (BR) Price Target Raised to $85.00 at Barclays PLC
Broadridge Financial Solutions, Inc. (NYSE:BR) had its price objective upped by Barclays PLC from $74.00 to $85.00 in a research note issued to investors on Thursday morning. The brokerage currently has an equal weight rating on the business services provider’s stock.
Several other analysts have also commented on BR. BidaskClub lowered shares of Broadridge Financial Solutions from a buy rating to a hold rating in a research note on Monday, July 31st. DA Davidson started coverage on shares of Broadridge Financial Solutions in a research note on Monday, August 7th. They set a neutral rating and a $74.00 target price for the company.
Broadridge Financial Solutions (NYSE:BR) traded up $0.62 during mid-day trading on Thursday, reaching $88.45. 638,448 shares of the company traded hands, compared to its average volume of 452,397. Broadridge Financial Solutions has a fifty-two week low of $60.25 and a fifty-two week high of $91.75. The firm has a market capitalization of $10,545.67, a price-to-earnings ratio of 27.17, a PEG ratio of 2.46 and a beta of 0.99. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 1.25.
Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Wednesday, November 8th. The business services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. Broadridge Financial Solutions had a net margin of 8.22% and a return on equity of 40.17%. The business had revenue of $925.00 million during the quarter, compared to analyst estimates of $923.68 million. During the same period in the prior year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. equities analysts forecast that Broadridge Financial Solutions will post 3.68 earnings per share for the current year.
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In other news, insider Richard J. Daly sold 94,039 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $81.95, for a total transaction of $7,706,496.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stuart R. Levine sold 7,868 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $76.58, for a total transaction of $602,531.44. Following the sale, the director now owns 39,747 shares in the company, valued at approximately $3,043,825.26. The disclosure for this sale can be found here. Insiders have sold 119,720 shares of company stock worth $9,679,916 in the last 90 days. 2.60% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. ETF Managers Group LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter valued at approximately $144,000. Acrospire Investment Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the second quarter valued at approximately $108,000. Toronto Dominion Bank raised its holdings in shares of Broadridge Financial Solutions by 11.4% during the second quarter. Toronto Dominion Bank now owns 1,453 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 149 shares during the period. Global X Management Co. LLC raised its holdings in shares of Broadridge Financial Solutions by 8.5% during the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after acquiring an additional 120 shares during the period. Finally, Advisory Services Network LLC raised its holdings in shares of Broadridge Financial Solutions by 82.8% during the second quarter. Advisory Services Network LLC now owns 1,559 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 706 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.
Broadridge Financial Solutions Company Profile
Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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