8,549 Shares in Broadridge Financial Solutions, Inc. $BR Bought by CenterBook Partners LP

Key Points

• CenterBook Partners initiated a position in Broadridge Financial Solutions, buying 8,549 shares valued at approximately $1.38 million. Institutional investors collectively own about 90% of the company.
• Broadridge reported quarterly earnings of $1.56 per share, above the $1.37 analyst consensus, while revenue of $1.67 billion also topped estimates and rose 5% year over year.
• Analysts have a consensus rating of “Moderate Buy” and an average price target of $212.71; four analysts rate the stock Buy and four rate it Hold.

CenterBook Partners LP acquired a new position in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,549 shares of the business services provider's stock, valued at approximately $1,377,000.

Several other institutional investors and hedge funds also recently modified their holdings of BR. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Broadridge Financial Solutions by 218.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,970 shares of the business services provider's stock valued at $2,050,000 after acquiring an additional 10,266 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Broadridge Financial Solutions during the first quarter worth $959,000. Andra AP fonden raised its holdings in Broadridge Financial Solutions by 96.5% during the 2nd quarter. Andra AP fonden now owns 170,757 shares of the business services provider's stock worth $23,385,000 after buying an additional 83,857 shares during the period. Empowered Funds LLC raised its holdings in shares of Broadridge Financial Solutions by 29.9% during the first quarter. Empowered Funds LLC now owns 48,430 shares of the business services provider's stock valued at $7,869,000 after acquiring an additional 11,152 shares during the period. Finally, Stoneridge Investment Partners LLC purchased a new stake in shares of Broadridge Financial Solutions in the second quarter valued at $910,000. Institutional investors own 90.03% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BR. DA Davidson reissued a "buy" rating and set a $214.00 price target on shares of Broadridge Financial Solutions in a research report on Tuesday, October 27th. JPMorgan Chase & Co. upped their price objective on shares of Broadridge Financial Solutions from $191.00 to $201.00 and gave the company a "neutral" rating in a research note on Wednesday, November 4th. Weiss Ratings upgraded shares of Broadridge Financial Solutions from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Morgan Stanley increased their target price on shares of Broadridge Financial Solutions from $176.00 to $181.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 4th. Finally, Royal Bank Of Canada lifted their target price on shares of Broadridge Financial Solutions from $225.00 to $226.00 and gave the company an "outperform" rating in a research note on Monday, August 31st. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $212.71.

Insider Activity at Broadridge Financial Solutions

In related news, VP Thomas Carey sold 2,501 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $159.76, for a total value of $399,559.76. Following the completion of the sale, the vice president owned 8,800 shares in the company, valued at approximately $1,405,888. This trade represents a 22.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.00% of the company's stock.

Broadridge Financial Solutions Trading Up 0.9%

Shares of BR stock opened at $192.15 on Tuesday. Broadridge Financial Solutions, Inc. has a 12 month low of $133.83 and a 12 month high of $233.10. The business's 50 day moving average is $172.30 and its two-hundred day moving average is $165.77. The company has a quick ratio of 1.24, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The company has a market cap of $21.73 billion, a PE ratio of 21.23 and a beta of 0.90.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its earnings results on Tuesday, November 3rd. The business services provider reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.19. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.65 billion. Broadridge Financial Solutions had a net margin of 13.94% and a return on equity of 40.32%. The business's revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 EPS. Equities analysts predict that Broadridge Financial Solutions, Inc. will post 10.58 EPS for the current year.

About Broadridge Financial Solutions

Broadridge Financial Solutions provides technology and operations services to financial institutions, public companies, and investors. Its platforms support investor communications, corporate governance, and the processing of financial transactions.

The company's services include preparing and distributing proxy materials and other shareholder communications, supporting shareholder voting, and providing solutions for trading, clearing, settlement, and asset servicing. Broadridge also offers technology for wealth and investment management, including portfolio and account management, data, and regulatory reporting.

Broadridge was established in 2007 as a spin-off from Automatic Data Processing (ADP).

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