Broadridge Financial Solutions (NYSE:BR) Reaches New 52-Week High – What’s Next?

by · The Cerbat Gem

Broadridge Financial Solutions, Inc. (NYSE:BR – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $228.43 and last traded at $228.34, with a volume of 82702 shares trading hands. The stock had previously closed at $226.21.

Analysts Set New Price Targets

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

Get Our Latest Stock Analysis on Broadridge Financial Solutions

Broadridge Financial Solutions Stock Up 0.3 %

The stock has a market capitalization of $26.51 billion, a price-to-earnings ratio of 39.14 and a beta of 1.05. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.39 and a quick ratio of 1.08. The firm has a 50 day simple moving average of $214.56 and a 200-day simple moving average of $207.28.

Broadridge Financial Solutions (NYSE:BR – Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 41.79% and a net margin of 10.57%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company earned $1.09 EPS. The firm’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Insider Buying and Selling at Broadridge Financial Solutions

In related news, President Christopher John Perry sold 31,539 shares of Broadridge Financial Solutions stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the sale, the president now directly 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 SEC, which is available through this hyperlink. In other news, Director Maura A. Markus sold 3,880 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $227.02, for a total value of $880,837.60. Following the sale, the director now owns 27,788 shares in the company, valued at $6,308,431.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Christopher John Perry sold 31,539 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.37, for a total transaction of $6,540,242.43. Following the completion of the sale, the president now directly owns 67,215 shares of the company’s stock, valued at approximately $13,938,374.55. The trade was a 0.00 % decrease in their position. 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 90 days. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Broadridge Financial Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bogart Wealth LLC raised its stake in shares of Broadridge Financial Solutions by 384.0% during the third quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. EdgeRock Capital LLC bought a new stake in Broadridge Financial Solutions during the 2nd quarter valued at approximately $32,000. Rothschild Investment LLC acquired a new stake in Broadridge Financial Solutions in the 2nd quarter worth $32,000. New Covenant Trust Company N.A. bought a new position in Broadridge Financial Solutions in the first quarter worth $34,000. Finally, Family Firm Inc. bought a new stake in shares of Broadridge Financial Solutions in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 90.03% of the company’s stock.

Broadridge Financial Solutions Company Profile

(Get Free Report)

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.

Featured Stories