Broadridge Financial Solutions, Inc. (BR) Price Target Raised to $85.00

Broadridge Financial Solutions, Inc. (NYSE:BR) had its price objective increased by Barclays PLC from $74.00 to $85.00 in a research report released on Thursday. The brokerage currently has an equal weight rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the stock. DA Davidson restated a hold rating and issued a $86.00 price target on shares of Broadridge Financial Solutions in a research report on Thursday. BidaskClub cut shares of Broadridge Financial Solutions from a hold rating to a sell rating in a research report on Saturday, August 12th.

Shares of Broadridge Financial Solutions (NYSE BR) traded up $0.62 during trading hours on Thursday, reaching $88.45. 638,400 shares of the company traded hands, compared to its average volume of 391,326. The company has a market cap of $10,309.02, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 2.38 and a beta of 0.99. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.33 and a current ratio of 1.70. Broadridge Financial Solutions has a fifty-two week low of $60.25 and a fifty-two week high of $91.75.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.12. Broadridge Financial Solutions had a net margin of 8.22% and a return on equity of 40.17%. The firm had revenue of $925.00 million during the quarter, compared to analysts’ expectations of $923.68 million. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue was up 3.4% on a year-over-year basis. equities analysts predict that Broadridge Financial Solutions will post 3.72 earnings per share for the current fiscal year.

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In other Broadridge Financial Solutions news, Director Stuart R. Levine sold 7,868 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $76.58, for a total value of $602,531.44. Following the completion of the transaction, the director now directly owns 39,747 shares in the company, valued at approximately $3,043,825.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Adam D. Amsterdam sold 17,813 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $76.96, for a total transaction of $1,370,888.48. Following the completion of the transaction, the insider now owns 20,646 shares of the company’s stock, valued at $1,588,916.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,720 shares of company stock valued at $9,679,916. Corporate insiders own 2.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. ETRADE Capital Management LLC increased its position in shares of Broadridge Financial Solutions by 0.9% during the second quarter. ETRADE Capital Management LLC now owns 6,891 shares of the business services provider’s stock worth $521,000 after buying an additional 60 shares during the period. Alps Advisors Inc. increased its position in shares of Broadridge Financial Solutions by 0.9% during the second quarter. Alps Advisors Inc. now owns 7,760 shares of the business services provider’s stock worth $586,000 after buying an additional 68 shares during the period. World Asset Management Inc increased its position in shares of Broadridge Financial Solutions by 1.0% during the second quarter. World Asset Management Inc now owns 8,919 shares of the business services provider’s stock worth $674,000 after buying an additional 91 shares during the period. Stanley Laman Group Ltd. increased its position in shares of Broadridge Financial Solutions by 0.9% during the second quarter. Stanley Laman Group Ltd. now owns 9,905 shares of the business services provider’s stock worth $748,000 after buying an additional 91 shares during the period. Finally, Pacad Investment Ltd. increased its position in shares of Broadridge Financial Solutions by 1.3% during the second quarter. Pacad Investment Ltd. now owns 7,598 shares of the business services provider’s stock worth $574,000 after buying an additional 98 shares during the period. Institutional investors own 82.97% of the company’s stock.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.

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