Broadridge Financial Solutions (BR) Price Target Increased to $127.00 by Analysts at Raymond James

Broadridge Financial Solutions (NYSE:BR) had its price target upped by Raymond James from $125.00 to $127.00 in a report released on Monday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Raymond James’ price target would suggest a potential upside of 2.51% from the stock’s current price.

A number of other research firms have also recently weighed in on BR. DA Davidson upgraded shares of Broadridge Financial Solutions from a “neutral” rating to a “buy” rating and set a $116.00 price objective for the company in a research report on Friday, February 8th. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $122.00 price objective for the company in a research report on Wednesday, April 10th. SunTrust Banks upped their price objective on shares of Broadridge Financial Solutions to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, ValuEngine upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Broadridge Financial Solutions presently has a consensus rating of “Buy” and an average target price of $126.00.

NYSE:BR opened at $123.89 on Monday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The firm has a market cap of $14.19 billion, a price-to-earnings ratio of 29.57, a P/E/G ratio of 2.61 and a beta of 0.88. Broadridge Financial Solutions has a fifty-two week low of $91.34 and a fifty-two week high of $138.24.

Broadridge Financial Solutions (NYSE:BR) last posted its quarterly earnings data on Tuesday, May 7th. The business services provider reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.10. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Broadridge Financial Solutions had a net margin of 11.31% and a return on equity of 48.71%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 earnings per share. As a group, equities research analysts predict that Broadridge Financial Solutions will post 4.65 EPS for the current year.

In other news, VP Laura Matlin sold 3,875 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $118.99, for a total transaction of $461,086.25. Following the completion of the sale, the vice president now owns 5,988 shares of the company’s stock, valued at $712,512.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Douglas Richard Deschutter sold 13,167 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $122.50, for a total transaction of $1,612,957.50. Following the sale, the vice president now directly owns 103,849 shares of the company’s stock, valued at approximately $12,721,502.50. The disclosure for this sale can be found here. Insiders have sold 63,575 shares of company stock valued at $7,762,001 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Cerebellum GP LLC grew its holdings in shares of Broadridge Financial Solutions by 23.1% during the first quarter. Cerebellum GP LLC now owns 3,252 shares of the business services provider’s stock worth $337,000 after buying an additional 611 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of Broadridge Financial Solutions by 1.0% during the first quarter. Advisory Services Network LLC now owns 11,964 shares of the business services provider’s stock worth $1,239,000 after buying an additional 118 shares in the last quarter. Cleararc Capital Inc. purchased a new stake in shares of Broadridge Financial Solutions in the first quarter valued at about $290,000. Horizon Investments LLC purchased a new stake in shares of Broadridge Financial Solutions in the first quarter valued at about $200,000. Finally, FMR LLC grew its holdings in shares of Broadridge Financial Solutions by 296.2% in the first quarter. FMR LLC now owns 750,883 shares of the business services provider’s stock valued at $77,860,000 after purchasing an additional 561,363 shares during the period. 84.80% of the stock is owned by institutional investors and hedge funds.

Broadridge Financial Solutions Company Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Analyst Recommendations for Broadridge Financial Solutions (NYSE:BR)

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