DA Davidson Reaffirms “Buy” Rating for Broadridge Financial Solutions (NYSE:BR)

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

A number of other brokerages have also commented on BR. Royal Bank Of Canada raised their target price on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. UBS Group reiterated a “neutral” rating and issued a $180.00 price target on shares of Broadridge Financial Solutions in a report on Monday, August 17th. Morgan Stanley increased their price objective 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 report on Thursday, October 8th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $216.00.

Broadridge Financial Solutions Trading Down 2.3%

Shares of BR stock traded down $4.19 on Tuesday, reaching $176.90. 1,019,191 shares of the company’s stock were exchanged, compared to its average volume of 1,326,867. The company’s fifty day simple moving average is $171.26 and its 200 day simple moving average is $167.48. Broadridge Financial Solutions has a 52 week low of $133.83 and a 52 week high of $233.10. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $19.97 billion, a PE ratio of 18.39 and a beta of 0.92.

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

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas Carey sold 2,501 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $159.76, for a total transaction 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. This represents a 22.13% decrease in their position. The sale was disclosed in a document filed 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. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

A number of large investors have recently added to or reduced their stakes in BR. Kintegral Advisory LLC lifted its stake in Broadridge Financial Solutions by 0.6% in the third quarter. Kintegral Advisory LLC now owns 10,764 shares of the business services provider’s stock valued at $1,746,000 after buying an additional 60 shares in the last quarter. Appleton Partners Inc. MA increased its position in shares of Broadridge Financial Solutions by 0.5% during the first quarter. Appleton Partners Inc. MA now owns 12,137 shares of the business services provider’s stock worth $1,972,000 after acquiring an additional 65 shares in the last quarter. Abel Hall LLC raised its holdings in shares of Broadridge Financial Solutions by 2.4% during the third quarter. Abel Hall LLC now owns 2,935 shares of the business services provider’s stock worth $473,000 after acquiring an additional 68 shares during the period. Allworth Financial LP raised its holdings in shares of Broadridge Financial Solutions by 2.9% during the second quarter. Allworth Financial LP now owns 2,662 shares of the business services provider’s stock worth $365,000 after acquiring an additional 74 shares during the period. Finally, Eastern Bank raised its holdings in shares of Broadridge Financial Solutions by 2.8% during the third quarter. Eastern Bank now owns 2,693 shares of the business services provider’s stock worth $434,000 after acquiring an additional 74 shares during the period. 90.03% of the stock is currently owned by institutional investors.

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.