Alta Capital Management LLC Sells 32,891 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Alta Capital Management LLC decreased its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 39.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,467 shares of the business services provider's stock after selling 32,891 shares during the period. Alta Capital Management LLC's holdings in Broadridge Financial Solutions were worth $12,479,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BR. Whipplewood Advisors LLC increased its holdings in shares of Broadridge Financial Solutions by 2,620.0% in the 1st quarter. Whipplewood Advisors LLC now owns 136 shares of the business services provider's stock worth $33,000 after buying an additional 131 shares during the last quarter. Minot DeBlois Advisors LLC bought a new position in shares of Broadridge Financial Solutions in the 4th quarter worth $34,000. Gen Wealth Partners Inc bought a new position in shares of Broadridge Financial Solutions in the 4th quarter worth $36,000. Curio Wealth LLC bought a new position in shares of Broadridge Financial Solutions in the 4th quarter worth $45,000. Finally, Promus Capital LLC bought a new position in shares of Broadridge Financial Solutions in the 4th quarter worth $52,000. 90.03% of the stock is currently owned by institutional investors.

Broadridge Financial Solutions Trading Down 0.6%

BR stock traded down $1.42 during midday trading on Friday, hitting $236.37. The company had a trading volume of 739,210 shares, compared to its average volume of 526,117. The stock has a market cap of $27.76 billion, a price-to-earnings ratio of 35.54 and a beta of 0.96. Broadridge Financial Solutions, Inc. has a 52 week low of $195.64 and a 52 week high of $247.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. The stock's 50 day moving average price is $238.36 and its 200 day moving average price is $235.15.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The business services provider reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. Broadridge Financial Solutions had a net margin of 11.65% and a return on equity of 44.82%. The firm's revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.23 EPS. As a group, equities research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. Broadridge Financial Solutions's dividend payout ratio is currently 52.93%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Royal Bank Of Canada reissued an "outperform" rating and issued a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Finally, Needham & Company LLC began coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They issued a "buy" rating and a $300.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $250.83.

Insider Activity at Broadridge Financial Solutions

In other Broadridge Financial Solutions news, insider Hope M. Jarkowski sold 1,068 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total transaction of $251,214.96. Following the transaction, the insider now directly owns 1,070 shares of the company's stock, valued at approximately $251,685.40. The trade was a 49.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maura A. Markus sold 3,556 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $243.08, for a total transaction of $864,392.48. Following the transaction, the director now directly owns 30,892 shares in the company, valued at approximately $7,509,227.36. The trade was a 10.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,116 shares of company stock worth $4,352,298 in the last 90 days. Company insiders own 1.30% of the company's stock.

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.