Broadridge Financial Solutions (NYSE:BR) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions (NYSE:BR) in a research note released on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $300.00 target price on the business services provider’s stock.

A number of other equities analysts also recently commented on BR. StockNews.com downgraded shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. UBS Group boosted their price target on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. DA Davidson reissued a “neutral” rating and set a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $250.83.

Broadridge Financial Solutions Trading Down 0.1 %

Shares of NYSE BR opened at $236.07 on Tuesday. Broadridge Financial Solutions has a twelve month low of $190.47 and a twelve month high of $247.01. The firm has a market cap of $27.73 billion, a PE ratio of 36.94 and a beta of 0.98. The business has a fifty day simple moving average of $234.05 and a two-hundred day simple moving average of $231.64. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share. Analysts expect that Broadridge Financial Solutions will post 8.53 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Hope M. Jarkowski sold 1,068 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the transaction, the insider now directly owns 1,070 shares in the company, valued at $251,685.40. This trade represents a 49.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Christopher John Perry sold 22,357 shares of Broadridge Financial Solutions stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $235.23, for a total value of $5,259,037.11. Following the sale, the president now directly owns 52,524 shares of the company’s stock, valued at $12,355,220.52. This trade represents a 29.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,866 shares of company stock worth $28,216,569 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadridge Financial Solutions

Several large investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings in Broadridge Financial Solutions by 4.3% in the third quarter. Principal Financial Group Inc. now owns 157,645 shares of the business services provider’s stock valued at $33,898,000 after purchasing an additional 6,552 shares during the last quarter. CWA Asset Management Group LLC grew its holdings in Broadridge Financial Solutions by 6.0% during the fourth quarter. CWA Asset Management Group LLC now owns 1,283 shares of the business services provider’s stock worth $290,000 after acquiring an additional 73 shares during the period. Fulton Bank N.A. raised its position in Broadridge Financial Solutions by 4.6% during the fourth quarter. Fulton Bank N.A. now owns 3,346 shares of the business services provider’s stock valued at $756,000 after acquiring an additional 147 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in Broadridge Financial Solutions by 246.7% in the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 111 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Broadridge Financial Solutions by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,626 shares of the business services provider’s stock worth $4,220,000 after purchasing an additional 233 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other 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.