PDT Partners LLC Decreases Holdings in Broadridge Financial Solutions, Inc. (NYSE:BR)

PDT Partners LLC cut its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR - Free Report) by 60.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,040 shares of the business services provider's stock after selling 9,135 shares during the period. PDT Partners LLC's holdings in Broadridge Financial Solutions were worth $1,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. World Investment Advisors LLC raised its stake in Broadridge Financial Solutions by 10.9% during the third quarter. World Investment Advisors LLC now owns 4,229 shares of the business services provider's stock worth $909,000 after buying an additional 416 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Broadridge Financial Solutions in the 3rd quarter valued at about $3,530,000. Tidal Investments LLC raised its stake in Broadridge Financial Solutions by 43.7% during the 3rd quarter. Tidal Investments LLC now owns 15,300 shares of the business services provider's stock worth $3,290,000 after buying an additional 4,654 shares during the period. American Trust bought a new position in Broadridge Financial Solutions in the third quarter worth approximately $2,233,000. Finally, Principal Financial Group Inc. grew its stake in Broadridge Financial Solutions by 4.3% in the third quarter. Principal Financial Group Inc. now owns 157,645 shares of the business services provider's stock valued at $33,898,000 after acquiring an additional 6,552 shares during the period. 90.03% of the stock is currently owned by institutional investors and hedge funds.

Broadridge Financial Solutions Stock Performance

Shares of NYSE:BR traded up $1.42 during mid-day trading on Tuesday, reaching $233.60. The company had a trading volume of 113,173 shares, compared to its average volume of 531,761. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.64. The company's 50-day moving average price is $234.39 and its 200-day moving average price is $231.47. Broadridge Financial Solutions, Inc. has a one year low of $188.30 and a one year high of $247.01. The firm has a market cap of $27.34 billion, a price-to-earnings ratio of 36.58 and a beta of 0.98.

Broadridge Financial Solutions (NYSE:BR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The business services provider reported $2.44 earnings per share for the quarter, topping 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 return on equity of 44.40% and a net margin of 11.36%. The firm's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.23 EPS. As a group, equities research analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current fiscal year.

Analyst Ratings Changes

BR has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of Broadridge Financial Solutions from $207.00 to $222.00 and gave the company an "equal weight" rating in a research note on Monday, February 3rd. Royal Bank of Canada raised their target price on Broadridge Financial Solutions from $246.00 to $259.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. DA Davidson reiterated a "neutral" rating and issued a $215.00 target price on shares of Broadridge Financial Solutions in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on shares of Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, StockNews.com cut shares of Broadridge Financial Solutions from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $250.83.

Insider Activity at Broadridge Financial Solutions

In related news, Director Robert N. Duelks sold 485 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the transaction, the director now directly owns 4,960 shares in the company, valued at approximately $1,180,132.80. This represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Christopher John Perry sold 22,357 shares of Broadridge Financial Solutions stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $235.23, for a total transaction of $5,259,037.11. Following the sale, the president now owns 52,524 shares of the company's stock, valued at approximately $12,355,220.52. The trade was a 29.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,240 shares of company stock worth $29,273,611. Corporate insiders own 1.30% of the company's stock.

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.