Baker Avenue Asset Management LP Has $757,000 Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

Baker Avenue Asset Management LP grew its stake in Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 90.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,347 shares of the business services provider's stock after purchasing an additional 1,586 shares during the period. Baker Avenue Asset Management LP's holdings in Broadridge Financial Solutions were worth $757,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BR. Price T Rowe Associates Inc. MD raised its position in Broadridge Financial Solutions by 50.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,560,316 shares of the business services provider's stock worth $804,952,000 after purchasing an additional 1,186,555 shares in the last quarter. Norges Bank bought a new stake in shares of Broadridge Financial Solutions in the 4th quarter valued at approximately $106,904,000. Raymond James Financial Inc. acquired a new position in shares of Broadridge Financial Solutions in the 4th quarter worth approximately $104,466,000. Corient Private Wealth LLC lifted its position in shares of Broadridge Financial Solutions by 882.9% during the 4th quarter. Corient Private Wealth LLC now owns 437,171 shares of the business services provider's stock worth $99,186,000 after buying an additional 392,695 shares during the period. Finally, Northern Trust Corp boosted its stake in Broadridge Financial Solutions by 24.4% in the 4th quarter. Northern Trust Corp now owns 1,604,783 shares of the business services provider's stock valued at $362,825,000 after buying an additional 314,323 shares in the last quarter. Institutional investors own 90.03% of the company's stock.

Broadridge Financial Solutions Price Performance

Shares of Broadridge Financial Solutions stock traded up $0.92 during midday trading on Friday, reaching $236.92. The company had a trading volume of 400,569 shares, compared to its average volume of 531,996. The company has a market capitalization of $27.83 billion, a price-to-earnings ratio of 37.08 and a beta of 0.98. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The stock has a fifty day simple moving average of $233.94 and a 200 day simple moving average of $231.78. Broadridge Financial Solutions, Inc. has a 1-year low of $192.68 and a 1-year high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.23 earnings per share. As a group, equities research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current year.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 485 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the sale, the director now owns 4,960 shares of the company's stock, valued at approximately $1,180,132.80. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 95,956 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, the chief executive officer now directly owns 169,788 shares in the company, valued at $39,973,188.84. The trade was a 36.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,866 shares of company stock worth $28,216,569 over the last ninety days. Company insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. DA Davidson restated a "neutral" rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, January 21st. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a report on Tuesday. They set a "buy" rating and a $300.00 price objective for the company. Royal Bank of Canada boosted their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Finally, StockNews.com downgraded Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $250.83.

About Broadridge Financial Solutions

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.