Broadridge Financial Solutions (NYSE:BR) Cut to Hold at Wall Street Zen

Key Points

• Broadridge Financial Solutions has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, reflecting changing investor sentiment.
• Despite the downgrade, analysts have varying opinions, with UBS raising the target price to $280, while Needham & Company upgraded their target to $305, indicating differing perspectives on the stock's outlook.
• Insider activity shows a notable reduction in positions, with the president and CEO both selling shares, suggesting potential caution among company leadership.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

BR has been the subject of a number of other research reports. UBS Group lifted their target price on shares of Broadridge Financial Solutions from $250.00 to $280.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Broadridge Financial Solutions in a research note on Wednesday, October 8th. Morgan Stanley raised their price objective on Broadridge Financial Solutions from $222.00 to $261.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Finally, Needham & Company LLC lifted their target price on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Broadridge Financial Solutions presently has an average rating of "Hold" and an average price target of $261.50.

Broadridge Financial Solutions Stock Up 0.1%

Shares of NYSE BR opened at $232.36 on Friday. The stock has a market capitalization of $27.12 billion, a price-to-earnings ratio of 32.77 and a beta of 0.95. Broadridge Financial Solutions has a 52 week low of $208.20 and a 52 week high of $271.91. The firm has a 50-day moving average price of $243.96 and a 200 day moving average price of $242.29. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Thursday, March 3rd. The business services provider reported $0.73 earnings per share (EPS) for the quarter. The company had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. Equities research analysts anticipate that Broadridge Financial Solutions will post 8.53 EPS for the current fiscal year.

Insider Transactions at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, President Christopher John Perry sold 7,036 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $262.72, for a total transaction of $1,848,497.92. Following the sale, the president directly owned 48,813 shares of the company's stock, valued at $12,824,151.36. The trade was a 12.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy C. Gokey sold 5,674 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $258.37, for a total value of $1,465,991.38. Following the completion of the transaction, the chief executive officer owned 143,285 shares in the company, valued at $37,020,545.45. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,532 shares of company stock worth $38,417,208. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Broadridge Financial Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clarus Group Inc. increased its position in Broadridge Financial Solutions by 1.5% in the 2nd quarter. Clarus Group Inc. now owns 2,951 shares of the business services provider's stock worth $717,000 after buying an additional 44 shares during the period. CX Institutional lifted its stake in Broadridge Financial Solutions by 2.8% in the third quarter. CX Institutional now owns 1,633 shares of the business services provider's stock valued at $389,000 after buying an additional 44 shares during the period. Harbour Investments Inc. boosted its stake in Broadridge Financial Solutions by 10.1% during the 2nd quarter. Harbour Investments Inc. now owns 489 shares of the business services provider's stock worth $119,000 after acquiring an additional 45 shares during the last quarter. Signaturefd LLC raised its holdings in Broadridge Financial Solutions by 2.2% in the third quarter. Signaturefd LLC now owns 2,090 shares of the business services provider's stock worth $498,000 after purchasing an additional 45 shares during the period. Finally, Norden Group LLC boosted its position in shares of Broadridge Financial Solutions by 2.6% during the first quarter. Norden Group LLC now owns 1,852 shares of the business services provider's stock worth $449,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds 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.

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