Donnelley Financial Solutions (NYSE:DFIN) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP reduced its stake in Donnelley Financial Solutions by 24.3%, owning 37,046 shares worth approximately $1.62 million after selling 11,923 shares in the first quarter.
• Analysts from DA Davidson and Needham & Company LLC set a price target of $72.00 on DFIN shares, maintaining a "buy" rating for the stock.
• Donnelley Financial Solutions reported earnings of $1.24 per share for the quarter, significantly exceeding analysts' expectations of $0.70, although revenue decreased by 1.1% year-over-year.

Royce & Associates LP lowered its position in shares of Donnelley Financial Solutions (NYSE:DFIN - Free Report) by 24.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,046 shares of the company's stock after selling 11,923 shares during the quarter. Royce & Associates LP owned approximately 0.13% of Donnelley Financial Solutions worth $1,619,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Huntington National Bank grew its position in shares of Donnelley Financial Solutions by 20.7% in the fourth quarter. Huntington National Bank now owns 910 shares of the company's stock valued at $57,000 after purchasing an additional 156 shares in the last quarter. Versant Capital Management Inc grew its position in Donnelley Financial Solutions by 197.2% in the first quarter. Versant Capital Management Inc now owns 743 shares of the company's stock worth $32,000 after acquiring an additional 493 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Donnelley Financial Solutions by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,678 shares of the company's stock worth $921,000 after acquiring an additional 540 shares during the period. Nuveen Asset Management LLC grew its position in Donnelley Financial Solutions by 0.4% in the fourth quarter. Nuveen Asset Management LLC now owns 150,204 shares of the company's stock worth $9,422,000 after acquiring an additional 616 shares during the period. Finally, BOKF NA grew its position in Donnelley Financial Solutions by 7.6% in the fourth quarter. BOKF NA now owns 8,762 shares of the company's stock worth $510,000 after acquiring an additional 617 shares during the period. 93.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DFIN. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price objective on shares of Donnelley Financial Solutions in a research report on Thursday, May 1st. DA Davidson reiterated a "buy" rating and issued a $72.00 price objective on shares of Donnelley Financial Solutions in a research report on Monday, April 14th.

Donnelley Financial Solutions Trading Down 1.5%

Shares of DFIN traded down $0.82 during midday trading on Friday, hitting $52.14. 261,788 shares of the stock were exchanged, compared to its average volume of 285,309. Donnelley Financial Solutions has a 52-week low of $37.80 and a 52-week high of $70.55. The stock has a fifty day simple moving average of $60.03 and a 200 day simple moving average of $54.59. The firm has a market cap of $1.44 billion, a P/E ratio of 17.26 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.24 and a current ratio of 1.24.

Donnelley Financial Solutions (NYSE:DFIN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.42 by $0.07. The business had revenue of $218.10 million during the quarter, compared to analyst estimates of $226.13 million. Donnelley Financial Solutions had a return on equity of 21.80% and a net margin of 11.56%. The company's quarterly revenue was down 10.1% on a year-over-year basis. During the same period last year, the business posted $1.47 earnings per share.

Insider Activity

In other news, insider Craig Clay sold 11,022 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $54.03, for a total value of $595,518.66. Following the sale, the insider directly owned 143,448 shares in the company, valued at approximately $7,750,495.44. This trade represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.30% of the company's stock.

Donnelley Financial Solutions Profile

Donnelley Financial Solutions, Inc provides innovative software and technology-enabled financial regulatory and compliance solutions in the United States, Asia, Europe, Canada, and internationally. It operates through four segments: Capital Markets Software Solutions (CM-SS); Capital Markets Compliance and Communications Management (CM-CCM); Investment Companies Software Solutions (IC-SS); and Investment Companies Compliance and Communications Management (IC-CCM).