Broadridge Financial Solutions (NYSE:BR) Price Target Raised to $201.00

Broadridge Financial Solutions (NYSE:BR – Free Report) had its price objective raised by JPMorgan Chase & Co. from $191.00 to $201.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Several other research analysts also recently weighed in on BR. UBS Group reiterated a “neutral” rating and issued a $180.00 price target on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Royal Bank Of Canada raised their price objective on Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an “outperform” rating in a report on Monday, August 31st. Morgan Stanley lifted their price objective on Broadridge Financial Solutions from $176.00 to $181.00 and gave the company an “equal weight” rating in a research report on Wednesday. Weiss Ratings upgraded Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, DA Davidson reiterated a “buy” rating and issued a $214.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, October 27th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $212.71.

View Our Latest Stock Analysis on BR

Broadridge Financial Solutions Trading Down 1.9%

Shares of NYSE:BR traded down $3.71 during trading on Wednesday, reaching $190.22. The stock had a trading volume of 1,174,335 shares, compared to its average volume of 789,173. The business has a fifty day moving average price of $172.13 and a 200-day moving average price of $165.85. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.15. The stock has a market cap of $21.48 billion, a P/E ratio of 21.02 and a beta of 0.90. Broadridge Financial Solutions has a fifty-two week low of $133.83 and a fifty-two week high of $233.10.

Broadridge Financial Solutions (NYSE:BR – Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.19. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, analysts anticipate that Broadridge Financial Solutions will post 10.58 earnings per share for the current fiscal year.

Insider Transactions at Broadridge Financial Solutions

In related news, VP Thomas Carey sold 2,501 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $159.76, for a total transaction of $399,559.76. Following the completion of the transaction, the vice president owned 8,800 shares of the company’s stock, valued at approximately $1,405,888. This represents a 22.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of large investors have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. increased its stake in Broadridge Financial Solutions by 218.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,970 shares of the business services provider’s stock worth $2,050,000 after acquiring an additional 10,266 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of Broadridge Financial Solutions in the 1st quarter worth about $959,000. Andra AP fonden raised its holdings in shares of Broadridge Financial Solutions by 96.5% in the 2nd quarter. Andra AP fonden now owns 170,757 shares of the business services provider’s stock worth $23,385,000 after purchasing an additional 83,857 shares during the period. Empowered Funds LLC lifted its stake in shares of Broadridge Financial Solutions by 29.9% in the 1st quarter. Empowered Funds LLC now owns 48,430 shares of the business services provider’s stock valued at $7,869,000 after purchasing an additional 11,152 shares in the last quarter. Finally, UNIVEST FINANCIAL Corp acquired a new position in shares of Broadridge Financial Solutions in the 1st quarter valued at about $8,227,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Company Profile

(Get Free Report)

Broadridge Financial Solutions, Inc (NYSE: BR) is a financial technology and business services company that provides communications, data, and technology solutions to financial institutions, public companies, and investors. Its services support the administration and communication of financial information across the investment lifecycle.

The company’s offerings include investor communications, proxy and corporate governance services, securities processing, trade and portfolio management, and technology platforms for wealth and investment management firms.

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Analyst Recommendations for Broadridge Financial Solutions (NYSE:BR)

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