Broadridge Financial Solutions (NYSE:BR) Stock Rating Lowered by StockNews.com

Broadridge Financial Solutions (NYSE:BR) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other analysts have also weighed in on BR. Royal Bank of Canada raised their price objective on shares of Broadridge Financial Solutions from $212.00 to $239.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI restated an “outperform” rating and issued a $230.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday. Morgan Stanley upped their price objective on Broadridge Financial Solutions from $175.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, December 8th. Finally, Raymond James lifted their target price on Broadridge Financial Solutions from $205.00 to $214.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $203.17.

Broadridge Financial Solutions Stock Up 1.1 %

Shares of Broadridge Financial Solutions stock traded up $2.17 during trading on Wednesday, hitting $203.88. The company’s stock had a trading volume of 362,145 shares, compared to its average volume of 543,206. Broadridge Financial Solutions has a 52 week low of $139.35 and a 52 week high of $210.24. The company has a market capitalization of $24.01 billion, a PE ratio of 35.52 and a beta of 0.99. The company has a fifty day simple moving average of $201.90 and a two-hundred day simple moving average of $192.19. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.40 and a current ratio of 1.40.

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

Insiders Place Their Bets

In related news, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $199.00, for a total value of $4,521,678.00. Following the transaction, the insider now owns 44,680 shares of the company’s stock, valued at $8,891,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Broadridge Financial Solutions news, President Christopher John Perry sold 5,069 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $205.32, for a total transaction of $1,040,767.08. Following the completion of the sale, the president now owns 59,651 shares of the company’s stock, valued at $12,247,543.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas Richard Deschutter sold 22,722 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $199.00, for a total value of $4,521,678.00. Following the completion of the transaction, the insider now directly owns 44,680 shares in the company, valued at approximately $8,891,320. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,552 shares of company stock valued at $10,786,404. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in Broadridge Financial Solutions by 680.1% during the fourth quarter. Nordea Investment Management AB now owns 85,325 shares of the business services provider’s stock valued at $17,584,000 after acquiring an additional 74,387 shares during the period. Comerica Bank purchased a new position in Broadridge Financial Solutions in the 3rd quarter worth approximately $8,116,000. Gotham Asset Management LLC lifted its holdings in Broadridge Financial Solutions by 176.1% in the 3rd quarter. Gotham Asset Management LLC now owns 21,357 shares of the business services provider’s stock worth $3,824,000 after purchasing an additional 13,621 shares in the last quarter. Toronto Dominion Bank boosted its stake in Broadridge Financial Solutions by 13.5% in the 3rd quarter. Toronto Dominion Bank now owns 59,407 shares of the business services provider’s stock worth $10,637,000 after purchasing an additional 7,088 shares during the period. Finally, Allred Capital Management LLC purchased a new stake in Broadridge Financial Solutions during the 4th quarter valued at approximately $213,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

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.