DA Davidson Forecasts Strong Price Appreciation for Broadridge Financial Solutions (NYSE:BR) Stock

Broadridge Financial Solutions (NYSE:BR) had its price target upped by equities researchers at DA Davidson from $210.00 to $215.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. DA Davidson’s price target indicates a potential downside of 8.78% from the stock’s current price.

BR has been the subject of a number of other reports. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Royal Bank of Canada reissued an “outperform” rating and set a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Morgan Stanley upped their price objective on shares of Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. UBS Group assumed coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Five equities 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 stock presently has an average rating of “Hold” and an average target price of $226.71.

Broadridge Financial Solutions Price Performance

Shares of NYSE:BR opened at $235.69 on Tuesday. The firm has a market capitalization of $27.55 billion, a PE ratio of 40.78 and a beta of 1.07. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.63. Broadridge Financial Solutions has a 1-year low of $188.30 and a 1-year high of $237.96. The business’s 50 day moving average is $223.65 and its 200-day moving average is $212.36.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 EPS. Sell-side analysts predict that Broadridge Financial Solutions will post 8.52 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Douglas Richard Deschutter sold 24,185 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now owns 27,137 shares of the company’s stock, valued at $5,975,838.77. This trade represents a 47.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas P. Carey sold 10,757 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the sale, the vice president now directly owns 12,689 shares of the company’s stock, valued at $2,878,118.98. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,532 shares of company stock valued at $12,264,846 over the last ninety days. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Broadridge Financial Solutions by 22.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider’s stock worth $7,191,000 after acquiring an additional 6,690 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Broadridge Financial Solutions by 12.7% in the 2nd quarter. V Square Quantitative Management LLC now owns 2,613 shares of the business services provider’s stock valued at $515,000 after purchasing an additional 294 shares during the period. ORG Partners LLC increased its stake in Broadridge Financial Solutions by 1,378.3% during the 2nd quarter. ORG Partners LLC now owns 1,360 shares of the business services provider’s stock worth $267,000 after purchasing an additional 1,268 shares in the last quarter. Swedbank AB raised its holdings in Broadridge Financial Solutions by 1.0% during the 2nd quarter. Swedbank AB now owns 24,420 shares of the business services provider’s stock worth $4,811,000 after buying an additional 252 shares during the period. Finally, Triad Wealth Partners LLC bought a new position in Broadridge Financial Solutions in the second quarter valued at approximately $44,000. 90.03% of the stock is owned by institutional investors.

Broadridge Financial Solutions Company Profile

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.