Broadridge Financial Solutions (NYSE:BR) Price Target Raised to $224.00

Broadridge Financial Solutions (NYSE:BR) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $213.00 to $224.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 4.45% from the company’s previous close.

BR has been the subject of several other research reports. DA Davidson restated a “neutral” rating and issued a $185.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, June 11th. Royal Bank of Canada lifted their price target on shares of Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, July 20th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $213.17.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR traded down $4.09 during midday trading on Wednesday, reaching $214.46. The company had a trading volume of 265,219 shares, compared to its average volume of 509,884. The stock has a market cap of $25.34 billion, a P/E ratio of 36.90 and a beta of 1.04. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.55. Broadridge Financial Solutions has a 1 year low of $166.73 and a 1 year high of $223.81. The business’s 50-day simple moving average is $202.67 and its 200 day simple moving average is $201.18.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.01. Broadridge Financial Solutions had a net margin of 10.92% and a return on equity of 40.88%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm posted $3.21 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts forecast that Broadridge Financial Solutions will post 7.72 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert N. Duelks sold 3,473 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $198.06, for a total transaction of $687,862.38. Following the completion of the sale, the director now owns 22,588 shares in the company, valued at approximately $4,473,779.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Robert N. Duelks sold 3,473 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $198.06, for a total value of $687,862.38. Following the transaction, the director now owns 22,588 shares in the company, valued at approximately $4,473,779.28. The sale 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 stock in a transaction that occurred 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 sale, the vice president now directly owns 9,361 shares of the company’s stock, valued at $1,875,944.40. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

Institutional investors have recently bought and sold shares of the company. New England Research & Management Inc. acquired a new stake in shares of Broadridge Financial Solutions in the 1st quarter valued at approximately $1,465,000. Bank of Nova Scotia boosted its position in shares of Broadridge Financial Solutions by 642.3% during the 4th quarter. Bank of Nova Scotia now owns 81,202 shares of the business services provider’s stock worth $16,707,000 after purchasing an additional 70,263 shares in the last quarter. Crown Oak Advisors LLC acquired a new position in shares of Broadridge Financial Solutions during the 4th quarter worth $7,032,000. UBS Group AG increased its holdings in shares of Broadridge Financial Solutions by 8.2% in the 4th quarter. UBS Group AG now owns 186,444 shares of the business services provider’s stock valued at $38,361,000 after purchasing an additional 14,147 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Broadridge Financial Solutions in the 4th quarter valued at about $227,750,000. 90.03% of the stock is owned by institutional investors and hedge funds.

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.