Broadridge Financial Solutions (NYSE:BR) Hits New 1-Year High – Should You Buy?

Shares of Broadridge Financial Solutions, Inc. (NYSE:BR) hit a new 52-week high on Tuesday . The company traded as high as $228.43 and last traded at $228.34, with a volume of 82702 shares traded. The stock had previously closed at $226.21.

Analyst Ratings Changes

Several research firms have recently issued reports on BR. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. StockNews.com cut shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley raised their target price on Broadridge Financial Solutions from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. upped their target price on Broadridge Financial Solutions from $224.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadridge Financial Solutions has a consensus rating of “Hold” and an average price target of $217.83.

Broadridge Financial Solutions Stock Up 0.3 %

The company has a market capitalization of $26.51 billion, a P/E ratio of 39.14 and a beta of 1.05. The stock’s fifty day moving average is $214.56 and its 200 day moving average is $207.28. The company has a current ratio of 1.39, a quick ratio of 1.08 and a debt-to-equity ratio of 1.63.

Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.48 billion. Broadridge Financial Solutions had a net margin of 10.57% and a return on equity of 41.79%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. Research analysts predict that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Broadridge Financial Solutions news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total value of $6,540,242.43. Following the transaction, the president now owns 67,215 shares in the company, valued at $13,938,374.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Christopher John Perry sold 31,539 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $207.37, for a total value of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares in the company, valued at $13,938,374.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas P. Carey sold 10,757 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $226.82, for a total value of $2,439,902.74. Following the completion of the transaction, the vice president now owns 12,689 shares of the company’s stock, valued at $2,878,118.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,535 shares of company stock valued at $36,613,975 in the last ninety days. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Algert Global LLC acquired a new position in shares of Broadridge Financial Solutions during the 3rd quarter valued at about $542,000. Canopy Partners LLC acquired a new position in shares of Broadridge Financial Solutions during the third quarter worth approximately $86,000. Cerity Partners LLC lifted its holdings in Broadridge Financial Solutions by 58.1% in the 3rd quarter. Cerity Partners LLC now owns 21,914 shares of the business services provider’s stock valued at $4,713,000 after acquiring an additional 8,051 shares during the last quarter. Great Valley Advisor Group Inc. acquired a new position in shares of Broadridge Financial Solutions in the third quarter worth about $204,000. Finally, Icon Wealth Advisors LLC lifted its stake in Broadridge Financial Solutions by 5.8% in the 3rd quarter. Icon Wealth Advisors LLC now owns 1,994 shares of the business services provider’s stock worth $429,000 after acquiring an additional 110 shares in the last quarter. Hedge funds and other institutional investors 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.