Broadridge Financial Solutions (NYSE:BR) Price Target Raised to $222.00 at Morgan Stanley

Broadridge Financial Solutions (NYSE:BR) had its price target lifted by equities researchers at Morgan Stanley from $207.00 to $222.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 6.92% from the company’s current price.

A number of other research analysts also recently weighed in on BR. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price target on shares of Broadridge Financial Solutions in a research note on Wednesday, November 6th. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. UBS Group assumed coverage on Broadridge Financial Solutions in a research note on Thursday, November 21st. They issued a “neutral” rating and a $250.00 price target for the company. StockNews.com downgraded Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, DA Davidson reiterated a “neutral” rating and set a $215.00 target price on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $231.33.

Broadridge Financial Solutions Stock Down 0.3 %

Shares of Broadridge Financial Solutions stock opened at $238.50 on Monday. The business’s 50 day simple moving average is $231.26 and its 200 day simple moving average is $220.33. Broadridge Financial Solutions has a 52-week low of $188.30 and a 52-week high of $241.45. The firm has a market cap of $27.88 billion, a PE ratio of 37.32 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.35.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. During the same period in the prior year, the business earned $0.92 earnings per share. On average, analysts predict that Broadridge Financial Solutions will post 8.55 earnings per share for the current fiscal year.

Insider Transactions at Broadridge Financial Solutions

In other news, Director Maura A. Markus sold 3,880 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $227.02, for a total transaction of $880,837.60. Following the completion of the transaction, the director now owns 27,788 shares of the company’s stock, valued at approximately $6,308,431.76. The trade was a 12.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas P. Carey sold 15,710 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $230.32, for a total value of $3,618,327.20. Following the sale, the vice president now owns 12,146 shares in the company, valued at $2,797,466.72. This represents a 56.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,532 shares of company stock valued at $12,264,846. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Broadridge Financial Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of BR. Bogart Wealth LLC grew its position in Broadridge Financial Solutions by 384.0% during the 3rd quarter. Bogart Wealth LLC now owns 121 shares of the business services provider’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. True Wealth Design LLC grew its position in Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock worth $32,000 after acquiring an additional 142 shares during the last quarter. Fortitude Family Office LLC grew its position in Broadridge Financial Solutions by 246.7% during the 4th quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock worth $35,000 after acquiring an additional 111 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new stake in Broadridge Financial Solutions during the 3rd quarter worth $38,000. Finally, FSA Wealth Management LLC bought a new stake in Broadridge Financial Solutions during the 3rd quarter worth $39,000. Institutional investors own 90.03% of the company’s stock.

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.