Morgan Stanley Cuts Broadridge Financial Solutions (NYSE:BR) Price Target to $256.00

Broadridge Financial Solutions (NYSE:BR) had its target price cut by Morgan Stanley from $261.00 to $256.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Several other equities research analysts have also recently weighed in on the company. UBS Group increased their price objective on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, August 8th. Needham & Company LLC upped their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. DA Davidson reissued a “neutral” rating and issued a $240.00 price target on shares of Broadridge Financial Solutions in a report on Tuesday, October 28th. Weiss Ratings restated a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $264.83.

Broadridge Financial Solutions Trading Up 2.0%

Shares of NYSE BR opened at $221.83 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.98 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $25.89 billion, a PE ratio of 28.40 and a beta of 0.96. The business has a 50-day moving average price of $236.59 and a two-hundred day moving average price of $241.73. Broadridge Financial Solutions has a one year low of $212.33 and a one year high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The firm had revenue of $1.05 billion for the quarter. Broadridge Financial Solutions had a return on equity of 43.28% and a net margin of 13.11%. As a group, analysts predict that Broadridge Financial Solutions will post 8.53 earnings per share for the current fiscal year.

Insider Activity

In other Broadridge Financial Solutions news, CEO Timothy C. Gokey sold 84,571 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the completion of the transaction, the chief executive officer owned 165,634 shares in the company, valued at $42,986,992.02. This trade represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Christopher John Perry sold 7,036 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total value of $1,848,497.92. Following the completion of the sale, the president owned 48,813 shares in the company, valued at approximately $12,824,151.36. This represents a 12.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 147,532 shares of company stock valued at $38,417,208 in the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. First Horizon Corp acquired a new stake in shares of Broadridge Financial Solutions in the 3rd quarter valued at $25,000. NewSquare Capital LLC lifted its holdings in Broadridge Financial Solutions by 89.5% during the 2nd quarter. NewSquare Capital LLC now owns 108 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 51 shares during the last quarter. ORG Partners LLC lifted its holdings in Broadridge Financial Solutions by 360.0% during the 2nd quarter. ORG Partners LLC now owns 115 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 90 shares during the last quarter. Guerra Advisors Inc acquired a new position in Broadridge Financial Solutions in the third quarter valued at about $29,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Broadridge Financial Solutions by 85.1% during the second quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider’s stock worth $30,000 after buying an additional 57 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

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.