Broadridge Financial Solutions (NYSE:BR) Given New $259.00 Price Target at Royal Bank of Canada

Broadridge Financial Solutions (NYSE:BR) had its price objective increased by equities research analysts at Royal Bank of Canada from $246.00 to $259.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 9.33% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. DA Davidson restated a “neutral” rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a report on Thursday, December 12th. Morgan Stanley upped their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday. StockNews.com cut Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, 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 target price for the company. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Broadridge Financial Solutions presently has an average rating of “Hold” and a consensus price target of $233.50.

Broadridge Financial Solutions Stock Down 0.6 %

NYSE:BR traded down $1.33 on Monday, hitting $236.89. The stock had a trading volume of 98,981 shares, compared to its average volume of 474,708. The company has a quick ratio of 1.39, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Broadridge Financial Solutions has a 52 week low of $188.30 and a 52 week high of $241.45. The business’s fifty day moving average is $231.26 and its 200 day moving average is $220.33. The company has a market cap of $27.69 billion, a PE ratio of 37.08 and a beta of 1.08.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the previous year, the company posted $0.92 EPS. On average, equities research analysts expect that Broadridge Financial Solutions will post 8.55 EPS for the current fiscal year.

Insider Buying and Selling at Broadridge Financial Solutions

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 shares were sold at an average price of $220.21, for a total transaction of $5,325,778.85. Following the sale, the insider now directly owns 27,137 shares in the company, valued at approximately $5,975,838.77. This represents a 47.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $230.32, for a total transaction of $3,618,327.20. Following the sale, the vice president now directly owns 12,146 shares in the company, valued at $2,797,466.72. The trade was a 56.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,532 shares of company stock worth $12,264,846 over the last three months. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of large investors have recently made changes to their positions in BR. Bogart Wealth LLC lifted its stake in Broadridge Financial Solutions by 384.0% in the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC raised its position in shares of Broadridge Financial Solutions by 2,028.6% in the third quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after buying an additional 142 shares in the last quarter. Fortitude Family Office LLC boosted its stake in Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after buying an additional 111 shares during the period. Hazlett Burt & Watson Inc. purchased a new position in Broadridge Financial Solutions during the third quarter worth about $38,000. Finally, Global X Japan Co. Ltd. purchased a new position in Broadridge Financial Solutions during the fourth quarter worth about $41,000. 90.03% of the stock is owned by 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.