DA Davidson Forecasts Strong Price Appreciation for Broadridge Financial Solutions (NYSE:BR) Stock

Broadridge Financial Solutions (NYSE:BR) had its price target lifted by equities researchers at DA Davidson from $210.00 to $215.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. DA Davidson’s target price would suggest a potential downside of 8.78% from the company’s current price.

Other equities analysts also recently issued reports about the company. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 9th. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. UBS Group began coverage on shares of Broadridge Financial Solutions in a report on Thursday, November 21st. They issued a “neutral” rating and a $250.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $226.71.

Broadridge Financial Solutions Stock Down 0.1 %

Broadridge Financial Solutions stock opened at $235.69 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.39. The business has a 50 day simple moving average of $223.65 and a 200-day simple moving average of $212.36. The stock has a market capitalization of $27.55 billion, a PE ratio of 40.78 and a beta of 1.07. Broadridge Financial Solutions has a 12 month low of $188.30 and a 12 month high of $237.96.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 earnings per share. On average, analysts anticipate that Broadridge Financial Solutions will post 8.52 EPS for the current fiscal year.

Insider Buying and Selling

In other Broadridge Financial Solutions news, VP Thomas P. Carey sold 10,757 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total transaction of $2,439,902.74. Following the completion of the sale, the vice president now owns 12,689 shares in the company, valued at $2,878,118.98. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas Richard Deschutter sold 24,185 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the transaction, the insider now directly owns 27,137 shares of the company’s stock, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,532 shares of company stock valued at $12,264,846. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Qsemble Capital Management LP acquired a new stake in shares of Broadridge Financial Solutions in the third quarter valued at approximately $1,412,000. Atria Investments Inc lifted its stake in Broadridge Financial Solutions by 9.7% during the third quarter. Atria Investments Inc now owns 29,638 shares of the business services provider’s stock valued at $6,373,000 after purchasing an additional 2,610 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Broadridge Financial Solutions by 22.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,504 shares of the business services provider’s stock worth $7,191,000 after buying an additional 6,690 shares during the last quarter. Horizon Kinetics Asset Management LLC bought a new position in shares of Broadridge Financial Solutions in the third quarter valued at $483,000. Finally, Legacy Capital Wealth Partners LLC lifted its position in shares of Broadridge Financial Solutions by 82.7% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 7,107 shares of the business services provider’s stock valued at $1,528,000 after acquiring an additional 3,216 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

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.