Broadridge Financial Solutions’ (BR) “Buy” Rating Reiterated at DA Davidson

Broadridge Financial Solutions (NYSE:BR)‘s stock had its “buy” rating reiterated by research analysts at DA Davidson in a report issued on Tuesday, Benzinga reports. They currently have a $214.00 price objective on the business services provider’s stock. DA Davidson‘s price objective would indicate a potential upside of 20.97% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. UBS Group reaffirmed a “neutral” rating and issued a $180.00 price objective on shares of Broadridge Financial Solutions in a research report on Monday, August 17th. Royal Bank Of Canada lifted their target price on Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an “outperform” rating in a report on Monday, August 31st. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $169.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Broadridge Financial Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $216.00.

Broadridge Financial Solutions Stock Down 2.3%

Shares of NYSE BR traded down $4.19 during midday trading on Tuesday, hitting $176.90. The stock had a trading volume of 1,019,191 shares, compared to its average volume of 1,326,867. The business’s 50 day moving average is $171.26 and its 200-day moving average is $167.48. The company has a market cap of $19.97 billion, a P/E ratio of 18.39 and a beta of 0.92. Broadridge Financial Solutions has a 52 week low of $133.83 and a 52 week high of $233.10. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.15.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Tuesday, August 4th. The business services provider reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $3.76 by $0.06. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Broadridge Financial Solutions had a net margin of 15.04% and a return on equity of 40.25%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.55 earnings per share. Broadridge Financial Solutions has set its FY 2027 guidance at 10.370-10.750 EPS. As a group, analysts predict that Broadridge Financial Solutions will post 10.54 EPS for the current year.

Insider Activity at Broadridge Financial Solutions

In other news, VP Thomas Carey sold 2,501 shares of Broadridge Financial Solutions stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $159.76, for a total value of $399,559.76. Following the completion of the sale, the vice president directly owned 8,800 shares in the company, valued at $1,405,888. The trade was a 22.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Broadridge Financial Solutions by 218.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 14,970 shares of the business services provider’s stock worth $2,050,000 after buying an additional 10,266 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of Broadridge Financial Solutions in the first quarter worth $959,000. Andra AP fonden grew its holdings in shares of Broadridge Financial Solutions by 96.5% in the second quarter. Andra AP fonden now owns 170,757 shares of the business services provider’s stock worth $23,385,000 after acquiring an additional 83,857 shares during the period. Strs Ohio increased its position in Broadridge Financial Solutions by 25.8% during the first quarter. Strs Ohio now owns 48,787 shares of the business services provider’s stock valued at $7,927,000 after acquiring an additional 9,996 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Broadridge Financial Solutions during the first quarter valued at $4,211,000. Institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc (NYSE: BR) is a financial technology and business services company that provides communications, data, and technology solutions to financial institutions, public companies, and investors. Its services support the administration and communication of financial information across the investment lifecycle.

The company’s offerings include investor communications, proxy and corporate governance services, securities processing, trade and portfolio management, and technology platforms for wealth and investment management firms.