Zacks Investment Research upgraded shares of Broadridge Financial Solutions Inc. (NYSE:BR) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

According to Zacks, “Broadridge is a leading global provider of technology-based outsourcing solutions to the financial services industry. Their integrated systems and services include investor communication, securities processing, and clearing and outsourcing solutions. Broadridge offers a broad, integrated suite of innovative global solutions across the investment lifecycle and provides a wide range of cost-effective and scalable solutions to the financial industry. Their systems help reduce the need for clients to make significant capital investments in operations infrastructure, thereby allowing them to increase their focus on core business activities. “

A number of other research firms also recently weighed in on BR. Sandler O’Neill downgraded Broadridge Financial Solutions from a buy rating to a hold rating and set a $74.00 price target on the stock. in a research note on Thursday, September 29th. Atlantic Securities initiated coverage on Broadridge Financial Solutions in a research note on Tuesday, September 13th. They issued an overweight rating and a $82.00 price target on the stock. Finally, Barclays PLC increased their price target on Broadridge Financial Solutions from $67.00 to $69.00 and gave the company an equal weight rating in a research note on Wednesday, August 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Broadridge Financial Solutions currently has a consensus rating of Hold and an average price target of $72.60.

Analyst Recommendations for Broadridge Financial Solutions (NYSE:BR)

Broadridge Financial Solutions (NYSE:BR) opened at 65.465 on Tuesday. The firm has a 50-day moving average price of $64.59 and a 200-day moving average price of $65.99. The stock has a market cap of $7.80 billion, a P/E ratio of 25.875 and a beta of 1.10. Broadridge Financial Solutions has a 52 week low of $48.56 and a 52 week high of $71.74.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. The firm earned $895 million during the quarter, compared to the consensus estimate of $880.41 million. Broadridge Financial Solutions had a net margin of 9.62% and a return on equity of 34.10%. The firm’s quarterly revenue was up 50.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 earnings per share. On average, equities research analysts predict that Broadridge Financial Solutions will post $3.12 EPS for the current year.

In other news, Director Stuart R. Levine sold 8,170 shares of the firm’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $64.98, for a total value of $530,886.60. Following the completion of the transaction, the director now owns 35,130 shares in the company, valued at approximately $2,282,747.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leslie A. Brun sold 7,925 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $62.66, for a total value of $496,580.50. Following the completion of the transaction, the director now owns 30,622 shares of the company’s stock, valued at approximately $1,918,774.52. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. World Asset Management Inc boosted its position in shares of Broadridge Financial Solutions by 27.8% in the third quarter. World Asset Management Inc now owns 8,082 shares of the company’s stock valued at $548,000 after buying an additional 1,756 shares during the last quarter. Henderson Group PLC boosted its position in shares of Broadridge Financial Solutions by 12.0% in the second quarter. Henderson Group PLC now owns 535,293 shares of the company’s stock valued at $34,901,000 after buying an additional 57,345 shares during the last quarter. PGGM Investments boosted its position in shares of Broadridge Financial Solutions by 7.5% in the second quarter. PGGM Investments now owns 510,588 shares of the company’s stock valued at $33,290,000 after buying an additional 35,451 shares during the last quarter. Oakbrook Investments LLC boosted its position in shares of Broadridge Financial Solutions by 7.5% in the second quarter. Oakbrook Investments LLC now owns 11,500 shares of the company’s stock valued at $750,000 after buying an additional 800 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of Broadridge Financial Solutions by 3.0% in the second quarter. Nationwide Fund Advisors now owns 1,139,943 shares of the company’s stock valued at $74,324,000 after buying an additional 33,559 shares during the last quarter. Institutional investors own 84.99% of the company’s stock.

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About Broadridge Financial Solutions

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.

5 Day Chart for NYSE:BR

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