Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Broadridge Financial Solutions, Inc. (NYSE:BR) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,179 shares of the business services provider’s stock after acquiring an additional 368 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Broadridge Financial Solutions were worth $3,808,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Alpha Windward LLC increased its holdings in Broadridge Financial Solutions by 21.6% in the 2nd quarter. Alpha Windward LLC now owns 517 shares of the business services provider’s stock worth $65,000 after buying an additional 92 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Broadridge Financial Solutions during the 2nd quarter valued at about $44,000. Nuveen Asset Management LLC raised its holdings in shares of Broadridge Financial Solutions by 16.4% during the fourth quarter. Nuveen Asset Management LLC now owns 648,138 shares of the business services provider’s stock valued at $80,071,000 after purchasing an additional 91,527 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Broadridge Financial Solutions by 16.0% during the first quarter. Parametric Portfolio Associates LLC now owns 342,324 shares of the business services provider’s stock valued at $32,463,000 after purchasing an additional 47,275 shares during the period. Finally, PGGM Investments lifted its position in Broadridge Financial Solutions by 42.6% during the second quarter. PGGM Investments now owns 213,785 shares of the business services provider’s stock valued at $26,978,000 after purchasing an additional 63,885 shares during the period. Institutional investors and hedge funds own 85.13% of the company’s stock.
Several equities analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and set a $135.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 25th. Raymond James increased their target price on Broadridge Financial Solutions from $126.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Rosenblatt Securities restated a “hold” rating on shares of Broadridge Financial Solutions in a research note on Monday, July 27th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $131.20.
In other news, VP Julie R. Taylor sold 10,733 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $124.06, for a total value of $1,331,535.98. Following the completion of the transaction, the vice president now directly owns 20,457 shares of the company’s stock, valued at approximately $2,537,895.42. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Robert Schifellite sold 10,000 shares of Broadridge Financial Solutions stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $119.14, for a total transaction of $1,191,400.00. Following the completion of the transaction, the senior vice president now directly owns 52,445 shares in the company, valued at approximately $6,248,297.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 158,054 shares of company stock worth $19,209,467. Insiders own 2.20% of the company’s stock.
Shares of BR opened at $134.34 on Friday. The firm has a fifty day moving average price of $126.87 and a 200-day moving average price of $116.73. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $15.42 billion, a P/E ratio of 37.84 and a beta of 0.88. Broadridge Financial Solutions, Inc. has a 12-month low of $81.90 and a 12-month high of $134.41.
Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Friday, May 8th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.03). Broadridge Financial Solutions had a return on equity of 46.99% and a net margin of 9.50%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the company earned $1.59 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts predict that Broadridge Financial Solutions, Inc. will post 4.99 earnings per share for the current year.
Broadridge Financial Solutions Profile
Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.
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