Morgan Stanley Issues Positive Forecast for Broadridge Financial Solutions (NYSE:BR) Stock Price

Key Points

• Morgan Stanley has raised its price target for Broadridge Financial Solutions from $222.00 to $261.00, indicating a potential downside of 2.09% from the current stock price.
• Needham & Company also increased their target for the stock to $305.00 while maintaining a "buy" rating, suggesting strong confidence in the company's performance.
• Broadridge recently reported earnings of $3.55 per share, exceeding expectations and marking a 6.2% increase in quarterly revenue compared to last year.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) had its target price boosted by equities researchers at Morgan Stanley from $222.00 to $261.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the business services provider's stock. Morgan Stanley's price target would suggest a potential downside of 1.95% from the company's current price.

Several other research firms also recently weighed in on BR. Wall Street Zen raised Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC upped their price target on shares of Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $259.00 target price on shares of Broadridge Financial Solutions in a research note on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Broadridge Financial Solutions presently has a consensus rating of "Hold" and a consensus price target of $261.50.

Broadridge Financial Solutions Price Performance

NYSE:BR traded down $0.29 during trading hours on Wednesday, reaching $266.19. The stock had a trading volume of 536,088 shares, compared to its average volume of 935,714. The stock has a market capitalization of $31.18 billion, a PE ratio of 37.54 and a beta of 0.94. Broadridge Financial Solutions has a 52 week low of $206.29 and a 52 week high of $271.91. The company has a 50 day moving average price of $243.67 and a two-hundred day moving average price of $238.99. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The business services provider reported $3.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.04. Broadridge Financial Solutions had a net margin of 12.19% and a return on equity of 42.72%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the firm earned $3.50 earnings per share. Broadridge Financial Solutions's revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadridge Financial Solutions will post 8.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Broadridge Financial Solutions news, Director Maura A. Markus sold 3,556 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total value of $864,392.48. Following the completion of the transaction, the director owned 30,892 shares of the company's stock, valued at approximately $7,509,227.36. This trade represents a 10.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas Richard Deschutter sold 5,056 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $239.55, for a total value of $1,211,164.80. Following the completion of the transaction, the insider directly owned 21,167 shares in the company, valued at approximately $5,070,554.85. The trade was a 19.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,048 shares of company stock valued at $4,101,083 in the last 90 days. Corporate insiders own 1.30% of the company's stock.

Institutional Trading of Broadridge Financial Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in BR. NewSquare Capital LLC grew its stake in shares of Broadridge Financial Solutions by 89.5% during the 2nd quarter. NewSquare Capital LLC now owns 108 shares of the business services provider's stock worth $26,000 after purchasing an additional 51 shares during the period. ORG Partners LLC increased its holdings in Broadridge Financial Solutions by 360.0% in the second quarter. ORG Partners LLC now owns 115 shares of the business services provider's stock valued at $28,000 after buying an additional 90 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Broadridge Financial Solutions in the first quarter worth about $29,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Broadridge Financial Solutions by 85.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 124 shares of the business services provider's stock worth $30,000 after acquiring an additional 57 shares in the last quarter. Finally, Bank of Jackson Hole Trust grew its position in shares of Broadridge Financial Solutions by 110.3% during the 2nd quarter. Bank of Jackson Hole Trust now owns 122 shares of the business services provider's stock valued at $30,000 after acquiring an additional 64 shares during the period. 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.