Barclays PLC Boosts Broadridge Financial Solutions, Inc. (BR) Price Target to $74.00
Broadridge Financial Solutions, Inc. (NYSE:BR) had its price target upped by stock analysts at Barclays PLC from $72.00 to $74.00 in a report released on Friday. The firm currently has an “equal weight” rating on the business services provider’s stock. Barclays PLC’s price target would indicate a potential upside of 2.38% from the stock’s current price.
A number of other equities analysts also recently weighed in on BR. BidaskClub raised shares of Broadridge Financial Solutions from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. DA Davidson began coverage on shares of Broadridge Financial Solutions in a research note on Monday. They issued a “neutral” rating and a $74.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $76.00.
Shares of Broadridge Financial Solutions (BR) traded up 1.65% on Friday, reaching $73.47. The company had a trading volume of 131,447 shares. Broadridge Financial Solutions has a 52-week low of $59.86 and a 52-week high of $78.00. The company has a 50 day moving average price of $75.41 and a 200 day moving average price of $71.43. The stock has a market capitalization of $8.64 billion, a PE ratio of 28.78 and a beta of 0.99.
Broadridge Financial Solutions (NYSE:BR) last announced its earnings results on Thursday, August 10th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. Broadridge Financial Solutions had a net margin of 8.21% and a return on equity of 34.74%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $1.45 EPS. The company’s revenue was up 38.1% on a year-over-year basis. On average, equities research analysts anticipate that Broadridge Financial Solutions will post $3.66 earnings per share for the current year.
In other Broadridge Financial Solutions news, VP Laura Matlin sold 630 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $71.89, for a total transaction of $45,290.70. Following the transaction, the vice president now directly owns 5,271 shares of the company’s stock, valued at $378,932.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schifellite sold 76,666 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $75.98, for a total transaction of $5,825,082.68. Following the transaction, the insider now directly owns 105,042 shares in the company, valued at $7,981,091.16. The disclosure for this sale can be found here. Insiders have sold 323,032 shares of company stock worth $24,016,648 over the last three months. Company insiders own 3.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Global X Management Co. LLC increased its position in Broadridge Financial Solutions by 8.5% in the second quarter. Global X Management Co. LLC now owns 1,533 shares of the business services provider’s stock valued at $116,000 after buying an additional 120 shares during the last quarter. Commonwealth Bank of Australia increased its position in Broadridge Financial Solutions by 60.0% in the second quarter. Commonwealth Bank of Australia now owns 1,600 shares of the business services provider’s stock valued at $120,000 after buying an additional 600 shares during the last quarter. Van ECK Associates Corp increased its position in Broadridge Financial Solutions by 8.0% in the first quarter. Van ECK Associates Corp now owns 1,814 shares of the business services provider’s stock valued at $123,000 after buying an additional 135 shares during the last quarter. Airain ltd acquired a new position in Broadridge Financial Solutions during the second quarter valued at approximately $204,000. Finally, Fiduciary Trust Co. acquired a new position in Broadridge Financial Solutions during the second quarter valued at approximately $212,000. 85.19% of the stock is currently owned by hedge funds and other institutional investors.
Broadridge Financial Solutions Company Profile
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’s segments include Investor Communication Solutions, and Global Technology and Operations. The Company offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions through Investor Communication Solutions segment.
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