Broadridge Financial Solutions (NYSE:BR) Rating Lowered to Hold at StockNews.com

Broadridge Financial Solutions (NYSE:BR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other equities analysts have also recently issued reports about the company. Raymond James raised their target price on Broadridge Financial Solutions from $205.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Royal Bank of Canada lifted their price objective on Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. DA Davidson reiterated a “neutral” rating and issued a $185.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, April 10th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $206.67.

Broadridge Financial Solutions Stock Down 0.7 %

Shares of NYSE:BR opened at $194.15 on Friday. The business has a 50-day moving average price of $200.54 and a 200 day moving average price of $194.55. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $22.87 billion, a price-to-earnings ratio of 33.82 and a beta of 0.99. Broadridge Financial Solutions has a 12-month low of $140.06 and a 12-month high of $210.24.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, February 1st. The business services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Broadridge Financial Solutions had a return on equity of 41.12% and a net margin of 10.82%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business posted $0.91 EPS. Broadridge Financial Solutions’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts expect that Broadridge Financial Solutions will post 7.72 EPS for the current year.

Insider Buying and Selling

In related news, insider Douglas Richard Deschutter sold 12,200 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the completion of the sale, the insider now owns 32,480 shares in the company, valued at $6,648,980.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 12,200 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $204.71, for a total transaction of $2,497,462.00. Following the transaction, the insider now owns 32,480 shares of the company’s stock, valued at $6,648,980.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert N. Duelks sold 830 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $201.58, for a total value of $167,311.40. Following the transaction, the director now directly owns 5,445 shares in the company, valued at approximately $1,097,603.10. The disclosure for this sale can be found here. Insiders sold a total of 48,483 shares of company stock worth $9,745,637 over the last 90 days. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Broadridge Financial Solutions by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,951,669 shares of the business services provider’s stock worth $2,870,556,000 after buying an additional 110,886 shares during the period. Jensen Investment Management Inc. increased its holdings in shares of Broadridge Financial Solutions by 2.4% in the third quarter. Jensen Investment Management Inc. now owns 1,825,339 shares of the business services provider’s stock valued at $326,827,000 after purchasing an additional 43,235 shares during the period. Stifel Financial Corp increased its holdings in shares of Broadridge Financial Solutions by 1,700.7% in the third quarter. Stifel Financial Corp now owns 1,542,507 shares of the business services provider’s stock valued at $276,194,000 after purchasing an additional 1,456,847 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Broadridge Financial Solutions by 28.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,452,720 shares of the business services provider’s stock valued at $286,360,000 after purchasing an additional 323,051 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Broadridge Financial Solutions by 5.6% in the third quarter. Northern Trust Corp now owns 1,322,979 shares of the business services provider’s stock valued at $236,879,000 after purchasing an additional 70,258 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

About Broadridge Financial Solutions

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.