Broadridge Financial Solutions (NYSE:BR) Rating Lowered to Hold at StockNews.com

Broadridge Financial Solutions (NYSE:BR) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Other research analysts have also issued reports about the company. Royal Bank of Canada lifted their target price on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Raymond James lifted their price target on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday. Finally, Morgan Stanley lifted their target price on shares of Broadridge Financial Solutions from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, December 8th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $203.17.

Broadridge Financial Solutions Price Performance

Shares of NYSE BR opened at $204.86 on Wednesday. Broadridge Financial Solutions has a fifty-two week low of $139.35 and a fifty-two week high of $210.24. The firm’s 50-day simple moving average is $201.97 and its 200 day simple moving average is $192.28. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.77. The stock has a market cap of $24.13 billion, a P/E ratio of 35.69 and a beta of 0.99.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Thursday, February 1st. The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.40 billion. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. Broadridge Financial Solutions’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. Equities analysts expect that Broadridge Financial Solutions will post 7.72 EPS for the current year.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 12,731 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the sale, the vice president now owns 13,303 shares of the company’s stock, valued at approximately $2,674,169.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total transaction of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares of the company’s stock, valued at $8,891,320. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas P. Carey sold 12,731 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $201.02, for a total transaction of $2,559,185.62. Following the completion of the sale, the vice president now directly owns 13,303 shares of the company’s stock, valued at $2,674,169.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,483 shares of company stock worth $9,745,637. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Procyon Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 2.3% during the 4th quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock valued at $477,000 after acquiring an additional 52 shares during the last quarter. New York Life Investment Management LLC increased its holdings in shares of Broadridge Financial Solutions by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock valued at $3,795,000 after acquiring an additional 52 shares during the last quarter. Optas LLC increased its holdings in shares of Broadridge Financial Solutions by 3.8% during the 4th quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock valued at $322,000 after acquiring an additional 57 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Broadridge Financial Solutions by 3.8% during the 4th quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock valued at $328,000 after acquiring an additional 58 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of Broadridge Financial Solutions by 57.1% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 60 shares during the last quarter. 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.