Broadridge Financial Solutions (NYSE:BR) Now Covered by Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Broadridge Financial Solutions (NYSE:BR - Free Report) in a report published on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $300.00 price objective on the business services provider's stock.

A number of other research firms also recently commented on BR. DA Davidson restated a "neutral" rating and issued a $215.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. StockNews.com lowered shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their target price on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Morgan Stanley increased their price target on Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Finally, UBS Group boosted their price objective on Broadridge Financial Solutions from $250.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $250.83.

Broadridge Financial Solutions Price Performance

BR traded up $0.92 during trading on Tuesday, reaching $236.92. 400,569 shares of the stock were exchanged, compared to its average volume of 531,996. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $27.83 billion, a price-to-earnings ratio of 37.08 and a beta of 0.98. Broadridge Financial Solutions has a 1 year low of $192.68 and a 1 year high of $247.01. The business's 50 day moving average price is $233.94 and its two-hundred day moving average price is $231.78.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. Broadridge Financial Solutions had a return on equity of 44.40% and a net margin of 11.36%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.23 EPS. As a group, equities research analysts anticipate that Broadridge Financial Solutions will post 8.53 earnings per share for the current year.

Insider Transactions at Broadridge Financial Solutions

In other news, CEO Timothy C. Gokey sold 95,956 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $235.43, for a total value of $22,590,921.08. Following the sale, the chief executive officer now owns 169,788 shares in the company, valued at approximately $39,973,188.84. This represents a 36.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert N. Duelks sold 485 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $237.93, for a total transaction of $115,396.05. Following the transaction, the director now directly owns 4,960 shares in the company, valued at $1,180,132.80. The trade was a 8.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,866 shares of company stock valued at $28,216,569. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Broadridge Financial Solutions

Several institutional investors and hedge funds have recently bought and sold shares of BR. Curio Wealth LLC acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter valued at approximately $45,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Broadridge Financial Solutions by 53.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,768 shares of the business services provider's stock worth $2,434,000 after purchasing an additional 3,753 shares during the period. Miracle Mile Advisors LLC lifted its position in shares of Broadridge Financial Solutions by 98.0% in the 4th quarter. Miracle Mile Advisors LLC now owns 2,433 shares of the business services provider's stock worth $550,000 after buying an additional 1,204 shares during the last quarter. Park Place Capital Corp lifted its holdings in Broadridge Financial Solutions by 31.3% in the fourth quarter. Park Place Capital Corp now owns 5,831 shares of the business services provider's stock worth $1,318,000 after acquiring an additional 1,391 shares during the last quarter. Finally, Crown Oak Advisors LLC boosted its position in Broadridge Financial Solutions by 10.8% during the 4th quarter. Crown Oak Advisors LLC now owns 36,376 shares of the business services provider's stock valued at $8,224,000 after purchasing an additional 3,553 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.