Broadridge Financial Solutions (NYSE:BR) Downgraded by StockNews.com

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

Several other analysts have also recently issued reports on BR. Raymond James upped 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. Evercore ISI reiterated an “outperform” rating and set a $230.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, March 26th. DA Davidson reiterated a “neutral” rating and set a $185.00 price target on shares of Broadridge Financial Solutions in a report on Wednesday, April 10th. Finally, Royal Bank of Canada increased their price target on Broadridge Financial Solutions from $212.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions currently has an average rating of “Hold” and a consensus price target of $206.67.

Broadridge Financial Solutions Price Performance

NYSE BR traded down $1.51 during mid-day trading on Friday, hitting $194.05. The stock had a trading volume of 211,848 shares, compared to its average volume of 500,673. The firm’s 50 day moving average is $200.62 and its 200 day moving average is $194.46. Broadridge Financial Solutions has a twelve month low of $140.06 and a twelve month high of $210.24. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $22.85 billion, a price-to-earnings ratio of 33.81 and a beta of 0.99.

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

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the 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 sale, the insider now owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadridge Financial Solutions news, insider Douglas Richard Deschutter sold 22,722 shares of the 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 sale, the insider now owns 44,680 shares of the company’s stock, valued at approximately $8,891,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert N. Duelks sold 830 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $201.58, for a total value of $167,311.40. Following the completion of the sale, 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 48,483 shares of company stock worth $9,745,637 in the last three months. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in BR. Procyon Advisors LLC increased its position in Broadridge Financial Solutions by 2.3% during the fourth quarter. Procyon Advisors LLC now owns 2,319 shares of the business services provider’s stock worth $477,000 after buying an additional 52 shares during the period. New York Life Investment Management LLC increased its position in Broadridge Financial Solutions by 0.3% during the fourth quarter. New York Life Investment Management LLC now owns 18,444 shares of the business services provider’s stock worth $3,795,000 after buying an additional 52 shares during the period. Optas LLC increased its position in Broadridge Financial Solutions by 3.8% during the fourth quarter. Optas LLC now owns 1,565 shares of the business services provider’s stock worth $322,000 after buying an additional 57 shares during the period. Signaturefd LLC increased its position in Broadridge Financial Solutions by 3.8% during the fourth quarter. Signaturefd LLC now owns 1,596 shares of the business services provider’s stock worth $328,000 after buying an additional 58 shares during the period. Finally, Manchester Capital Management LLC increased its position in Broadridge Financial Solutions by 57.1% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the business services provider’s stock worth $34,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.

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.