Broadridge Financial Solutions Inc. (NYSE:BR) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $68.55 and last traded at $68.37, with a volume of 202,996 shares. The stock had previously closed at $67.68.

BR has been the subject of several research analyst reports. Zacks Investment Research upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Monday, July 4th. Barclays PLC cut Broadridge Financial Solutions from an “overweight” rating to an “equal weight” rating and set a $67.00 price objective for the company. in a research report on Thursday, July 7th. Avondale Partners cut Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a research report on Wednesday, June 15th. Finally, Raymond James Financial Inc. cut Broadridge Financial Solutions from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 7th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $66.00.

The stock has a market capitalization of $8.11 billion and a price-to-earnings ratio of 27.48. The firm’s 50-day moving average price is $65.60 and its 200 day moving average price is $59.87.

Broadridge Financial Solutions (NYSE:BR) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.07. During the same quarter last year, the firm posted $0.47 earnings per share. The firm earned $689 million during the quarter, compared to the consensus estimate of $688.12 million. Broadridge Financial Solutions’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that Broadridge Financial Solutions Inc. will post $2.73 EPS for the current year.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Morgan Stanley raised its position in Broadridge Financial Solutions by 311.3% in the fourth quarter. Morgan Stanley now owns 581,364 shares of the company’s stock worth $31,236,000 after buying an additional 440,021 shares in the last quarter. Eagle Asset Management raised its position in Broadridge Financial Solutions by 83.5% in the third quarter. Eagle Asset Management now owns 790,950 shares of the company’s stock worth $43,778,000 after buying an additional 360,031 shares in the last quarter. Hartline Investment Corp raised its position in Broadridge Financial Solutions by 3.3% in the fourth quarter. Hartline Investment Corp now owns 97,153 shares of the company’s stock worth $5,220,000 after buying an additional 3,080 shares in the last quarter. TrimTabs Asset Management LLC bought a new position in Broadridge Financial Solutions during the fourth quarter worth about $2,057,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Broadridge Financial Solutions by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 34,381 shares of the company’s stock worth $1,847,000 after buying an additional 237 shares in the last quarter.

Broadridge Financial Solutions, Inc (Broadridge) is a provider of investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. The Company delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade and post-trade processing.

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