Broadridge Financial Solutions (NYSE:BR) Price Target Raised to $207.00 at Morgan Stanley

Broadridge Financial Solutions (NYSE:BR - Get Free Report) had its price objective raised by investment analysts at Morgan Stanley from $200.00 to $207.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the business services provider's stock. Morgan Stanley's price target would indicate a potential downside of 4.82% from the stock's previous close.

Several other research analysts also recently weighed in on BR. Royal Bank of Canada boosted their price target on Broadridge Financial Solutions from $239.00 to $246.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted 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 note on Tuesday, August 20th. Finally, StockNews.com raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Broadridge Financial Solutions has a consensus rating of "Moderate Buy" and an average target price of $217.83.

Broadridge Financial Solutions Stock Down 0.4 %

Shares of NYSE:BR traded down $0.81 during trading on Wednesday, hitting $217.49. 332,594 shares of the company were exchanged, compared to its average volume of 519,094. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.08 and a quick ratio of 1.08. The firm's 50 day moving average price is $213.71 and its 200-day moving average price is $206.50. The stock has a market capitalization of $25.42 billion, a P/E ratio of 37.05 and a beta of 1.05. Broadridge Financial Solutions has a 12-month low of $175.21 and a 12-month high of $225.18.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.48 billion. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. On average, research analysts predict that Broadridge Financial Solutions will post 8.51 earnings per share for the current fiscal year.

Insider Activity at Broadridge Financial Solutions

In related news, CEO Timothy C. Gokey sold 25,000 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now owns 200,675 shares in the company, valued at approximately $41,963,149.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 25,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $209.11, for a total transaction of $5,227,750.00. Following the transaction, the chief executive officer now directly owns 200,675 shares in the company, valued at $41,963,149.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Laura Matlin sold 673 shares of the company's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $216.00, for a total transaction of $145,368.00. Following the completion of the sale, the vice president now owns 5,530 shares in the company, valued at approximately $1,194,480. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 134,386 shares of company stock valued at $28,112,824. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bogart Wealth LLC grew its holdings in shares of Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider's stock valued at $26,000 after buying an additional 96 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Broadridge Financial Solutions in the second quarter valued at approximately $32,000. Rothschild Investment LLC bought a new position in shares of Broadridge Financial Solutions during the 2nd quarter valued at $32,000. New Covenant Trust Company N.A. bought a new stake in Broadridge Financial Solutions in the first quarter worth $34,000. Finally, Family Firm Inc. acquired a new position in Broadridge Financial Solutions during the second quarter worth $37,000. 90.03% of the stock is owned by institutional investors and hedge funds.

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.