Broadridge Financial Solutions (NYSE:BR) Price Target Raised to $222.00

Broadridge Financial Solutions (NYSE:BR - Get Free Report) had its target price lifted by research analysts at Morgan Stanley from $207.00 to $222.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the business services provider's stock. Morgan Stanley's price target points to a potential downside of 7.54% from the company's current price.

A number of other analysts have also weighed in on the stock. DA Davidson reaffirmed a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. UBS Group initiated coverage on shares of Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a "neutral" rating and a $250.00 price objective for the company. Wolfe Research reaffirmed a "peer perform" rating on shares of Broadridge Financial Solutions in a research report on Thursday, December 12th. StockNews.com lowered Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $246.00 price objective on shares of Broadridge Financial Solutions in a research report on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $239.17.

Broadridge Financial Solutions Trading Down 0.2 %

BR traded down $0.48 during trading hours on Monday, reaching $240.11. 405,543 shares of the company's stock traded hands, compared to its average volume of 494,141. The firm has a market capitalization of $28.07 billion, a PE ratio of 37.58 and a beta of 1.08. Broadridge Financial Solutions has a 52-week low of $188.30 and a 52-week high of $242.39. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a 50-day moving average price of $231.46 and a 200 day moving average price of $220.84.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the company posted $0.92 EPS. As a group, sell-side analysts predict that Broadridge Financial Solutions will post 8.55 EPS for the current fiscal year.

Insider Activity

In related news, insider Douglas Richard Deschutter sold 24,185 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $220.21, for a total value of $5,325,778.85. Following the sale, the insider now owns 27,137 shares in the company, valued at $5,975,838.77. This represents a 47.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the vice president now directly owns 12,689 shares of the company's stock, valued at $2,878,118.98. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,046 shares of company stock worth $12,389,029 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadridge Financial Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its holdings in Broadridge Financial Solutions by 1.0% during the third quarter. State Street Corp now owns 5,181,715 shares of the business services provider's stock worth $1,118,644,000 after buying an additional 51,439 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Broadridge Financial Solutions by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,999,874 shares of the business services provider's stock worth $643,018,000 after buying an additional 15,208 shares during the period. Stifel Financial Corp lifted its position in shares of Broadridge Financial Solutions by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 1,594,415 shares of the business services provider's stock valued at $342,856,000 after buying an additional 5,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Broadridge Financial Solutions by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 904,919 shares of the business services provider's stock valued at $194,585,000 after acquiring an additional 20,775 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Broadridge Financial Solutions by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 896,718 shares of the business services provider's stock worth $202,739,000 after acquiring an additional 20,694 shares during the period. Institutional investors and hedge funds own 90.03% of the company's stock.

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.