Broadridge Financial Solutions (NYSE:BR) Given New $207.00 Price Target at Morgan Stanley

Broadridge Financial Solutions (NYSE:BR) had its price target hoisted by Morgan Stanley from $200.00 to $207.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the business services provider’s stock.

BR has been the subject of a number of other reports. StockNews.com raised shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $239.00 to $246.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $217.83.

Broadridge Financial Solutions Stock Performance

Shares of NYSE BR traded up $0.97 during trading hours on Wednesday, hitting $220.43. 56,277 shares of the company’s stock were exchanged, compared to its average volume of 518,901. The company’s 50-day moving average price is $213.86 and its 200-day moving average price is $206.59. Broadridge Financial Solutions has a 1-year low of $175.21 and a 1-year high of $225.29. The stock has a market capitalization of $25.77 billion, a price-to-earnings ratio of 37.43 and a beta of 1.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the business posted $1.09 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts expect that Broadridge Financial Solutions will post 8.51 earnings per share for the current fiscal year.

Insider Activity

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the transaction, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. The trade was 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 at this hyperlink. Also, Director Leslie A. Brun sold 5,739 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $210.05, for a total transaction of $1,205,476.95. Following the sale, the director now directly owns 77,318 shares of the company’s stock, valued at approximately $16,240,645.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,713 shares of company stock worth $27,967,456. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bogart Wealth LLC increased its holdings in shares of Broadridge Financial Solutions by 384.0% in the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC bought a new position in Broadridge Financial Solutions in the 2nd quarter valued at $32,000. Rothschild Investment LLC acquired a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at $32,000. New Covenant Trust Company N.A. bought a new stake in shares of Broadridge Financial Solutions during the first quarter worth $34,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in shares of Broadridge Financial Solutions during the third quarter valued at $38,000. 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.