Royal Bank of Canada Reaffirms Outperform Rating for Broadridge Financial Solutions (NYSE:BR)

Broadridge Financial Solutions (NYSE:BR)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research report issued on Monday,Benzinga reports. They currently have a $259.00 price target on the business services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 7.29% from the stock’s previous close.

A number of other analysts also recently weighed in on BR. Morgan Stanley increased their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report 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 report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Needham & Company LLC started coverage on Broadridge Financial Solutions in a research note on Tuesday, May 6th. They set a “buy” rating and a $300.00 target price for the company. Finally, UBS Group raised their price target on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $250.83.

Broadridge Financial Solutions Stock Performance

NYSE:BR traded up $0.19 during mid-day trading on Monday, hitting $241.40. 62,687 shares of the stock were exchanged, compared to its average volume of 530,098. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $28.35 billion, a price-to-earnings ratio of 37.77 and a beta of 0.98. The firm’s 50-day simple moving average is $234.22 and its 200 day simple moving average is $232.90. Broadridge Financial Solutions has a fifty-two week low of $192.68 and a fifty-two week high of $247.01.

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

Insider Buying and Selling

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the sale, the insider now owns 1,070 shares of the company’s stock, valued at approximately $251,685.40. This represents a 49.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $237.93, for a total value of $115,396.05. Following the sale, the director now directly owns 4,960 shares of the company’s stock, valued at $1,180,132.80. This represents a 8.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,473 shares of company stock valued at $29,072,366 over the last 90 days. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Golden State Wealth Management LLC acquired a new position in Broadridge Financial Solutions during the 1st quarter worth approximately $29,000. Whipplewood Advisors LLC raised its position in shares of Broadridge Financial Solutions by 2,620.0% during the first quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider’s stock worth $33,000 after purchasing an additional 131 shares during the period. Minot DeBlois Advisors LLC bought a new position in shares of Broadridge Financial Solutions in the 4th quarter worth $34,000. Continuum Advisory LLC increased its stake in Broadridge Financial Solutions by 48.4% during the 1st quarter. Continuum Advisory LLC now owns 141 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 46 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in shares of Broadridge Financial Solutions by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 143 shares of the business services provider’s stock worth $35,000 after acquiring an additional 117 shares in the last quarter. 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.