Zacks Investment Research downgraded shares of Broadridge Financial Solutions (NYSE:BR) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Broadridge provides technology-based outsourcing solutions to the financial services industry. Shares of the company outperformed the industry to which it belongs to in the last one year. We remain optimistic about Broadridge’s strategic acquisitions, product launches, share repurchase program and dividend paying initiatives. We also believe that the company’s strong business relations with companies like Accenture and Amazon.com’s Amazon Web Services will be beneficial in the long run. Apart from this, regular additions to the company’s clientele have been tailwinds. In December 2017, the company’s solutions were adopted by a Miami based broker-dealer, Beta Capital Wealth Management as the latter is transforming to a self-clearing process. However, competition and pricing pressure remain major headwinds.”

Other research analysts also recently issued research reports about the stock. DA Davidson reissued a hold rating and issued a $86.00 target price on shares of Broadridge Financial Solutions in a research note on Thursday, November 9th. ValuEngine raised shares of Broadridge Financial Solutions from a hold rating to a buy rating in a research note on Tuesday, November 14th. Barclays reissued a hold rating and issued a $95.00 target price on shares of Broadridge Financial Solutions in a research note on Friday, December 8th. Finally, Raymond James Financial reissued a hold rating on shares of Broadridge Financial Solutions in a research note on Monday, December 4th. Six equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and an average target price of $90.50.

Shares of Broadridge Financial Solutions (BR) traded up $0.59 during midday trading on Tuesday, hitting $94.04. 361,679 shares of the company’s stock traded hands, compared to its average volume of 411,633. The stock has a market cap of $10,890.00, a price-to-earnings ratio of 32.88, a P/E/G ratio of 2.49 and a beta of 0.99. Broadridge Financial Solutions has a 52 week low of $65.35 and a 52 week high of $94.31. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.25.

Broadridge Financial Solutions (NYSE:BR) last issued its earnings results on Wednesday, November 8th. The business services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. Broadridge Financial Solutions had a net margin of 5.40% and a return on equity of 19.61%. The company had revenue of $925.00 million for the quarter, compared to analyst estimates of $923.68 million. During the same period in the previous year, the firm earned $0.36 EPS. The business’s revenue was up 3.4% on a year-over-year basis. equities research analysts forecast that Broadridge Financial Solutions will post 3.72 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Friday, December 15th were paid a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, December 14th. Broadridge Financial Solutions’s payout ratio is 51.05%.

In other news, Director Richard J. Haviland sold 7,655 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $88.51, for a total transaction of $677,544.05. Following the completion of the transaction, the director now owns 44,482 shares of the company’s stock, valued at approximately $3,937,101.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Schifellite sold 49,181 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $89.47, for a total transaction of $4,400,224.07. Following the transaction, the insider now directly owns 149,181 shares of the company’s stock, valued at approximately $13,347,224.07. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Broadridge Financial Solutions by 0.7% during the 2nd quarter. BlackRock Inc. now owns 12,134,364 shares of the business services provider’s stock valued at $916,871,000 after acquiring an additional 79,827 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Broadridge Financial Solutions by 1,647.4% during the 2nd quarter. Janus Henderson Group PLC now owns 7,181,963 shares of the business services provider’s stock valued at $542,669,000 after acquiring an additional 6,770,958 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Broadridge Financial Solutions by 3.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,461,535 shares of the business services provider’s stock valued at $118,123,000 after acquiring an additional 53,439 shares during the last quarter. Northern Trust Corp increased its stake in shares of Broadridge Financial Solutions by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,437,887 shares of the business services provider’s stock valued at $108,647,000 after acquiring an additional 10,569 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Broadridge Financial Solutions by 0.6% during the 3rd quarter. Wells Fargo & Company MN now owns 1,161,491 shares of the business services provider’s stock valued at $93,872,000 after acquiring an additional 7,286 shares during the last quarter. 83.48% of the stock is owned by institutional investors.

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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.

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