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

Alta Capital Management LLC cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 39.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 at the end of the most recent quarter.

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

Insider Activity at Broadridge Financial Solutions

In related news, insider Hope M. Jarkowski sold 1,068 shares of Broadridge Financial Solutions stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $235.22, for a total value of $251,214.96. Following the completion of the sale, the insider now owns 1,070 shares of the company's stock, valued at approximately $251,685.40. This trade represents a 49.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas P. Carey sold 3,607 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $237.26, for a total transaction of $855,796.82. Following the completion of the sale, the vice president now owns 6,077 shares of the company's stock, valued at approximately $1,441,829.02. The trade was a 37.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,116 shares of company stock valued at $4,352,298. 1.30% of the stock is owned by company insiders.

Broadridge Financial Solutions Trading Up 1.7%

Shares of NYSE:BR traded up $4.00 during mid-day trading on Monday, hitting $240.50. The company had a trading volume of 339,181 shares, compared to its average volume of 524,363. The firm has a fifty day moving average price of $238.44 and a 200 day moving average price of $235.20. The company has a market capitalization of $28.25 billion, a PE ratio of 36.17 and a beta of 0.96. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.32 and a quick ratio of 1.32. Broadridge Financial Solutions, Inc. has a one year low of $195.64 and a one year high of $247.01.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, beating the consensus estimate 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%. Broadridge Financial Solutions's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.23 EPS. As a group, research analysts forecast that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Thursday, June 12th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, June 12th. Broadridge Financial Solutions's payout ratio is currently 52.93%.

Analyst Ratings Changes

BR has been the subject of several analyst reports. Needham & Company LLC initiated coverage on shares of Broadridge Financial Solutions in a report on Tuesday, May 6th. They set a "buy" rating and a $300.00 price target for the company. Wall Street Zen upgraded shares of Broadridge Financial Solutions from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $259.00 price target on shares of Broadridge Financial Solutions in a report on Monday, May 19th. Five equities research 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 an average price target of $250.83.

Broadridge Financial Solutions 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.