Broadridge Financial Solutions, Inc. (NYSE:BR) Shares Sold by Palmer Knight Co

Palmer Knight Co lessened its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,768 shares of the business services provider’s stock after selling 132 shares during the period. Broadridge Financial Solutions accounts for approximately 2.9% of Palmer Knight Co’s portfolio, making the stock its 21st largest position. Palmer Knight Co’s holdings in Broadridge Financial Solutions were worth $6,616,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Broadridge Financial Solutions by 108.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,923 shares of the business services provider’s stock valued at $17,192,000 after purchasing an additional 43,710 shares during the period. Tidal Investments LLC grew its position in shares of Broadridge Financial Solutions by 99.6% during the first quarter. Tidal Investments LLC now owns 17,707 shares of the business services provider’s stock worth $3,627,000 after acquiring an additional 8,837 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Broadridge Financial Solutions by 72.7% in the 1st quarter. QRG Capital Management Inc. now owns 7,009 shares of the business services provider’s stock valued at $1,436,000 after acquiring an additional 2,950 shares during the period. DekaBank Deutsche Girozentrale raised its position in Broadridge Financial Solutions by 5.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 55,494 shares of the business services provider’s stock valued at $11,329,000 after purchasing an additional 2,685 shares during the last quarter. Finally, BDF Gestion purchased a new stake in Broadridge Financial Solutions in the 2nd quarter valued at $3,954,000. Hedge funds and other institutional investors own 90.03% of the company’s stock.

Broadridge Financial Solutions Stock Performance

NYSE BR opened at $221.18 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.55. The business’s 50 day moving average is $214.04 and its two-hundred day moving average is $206.69. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 37.74 and a beta of 1.05. Broadridge Financial Solutions, Inc. has a 12-month low of $175.21 and a 12-month high of $225.29.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. Broadridge Financial Solutions had a return on equity of 42.77% and a net margin of 10.73%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. Broadridge Financial Solutions’s quarterly revenue was down .6% on a year-over-year basis. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.51 EPS for the current year.

Insider Activity at Broadridge Financial Solutions

In other news, President Christopher John Perry sold 162 shares of Broadridge Financial Solutions stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $210.00, for a total transaction of $34,020.00. Following the completion of the sale, the president now directly owns 67,267 shares in the company, valued at approximately $14,126,070. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadridge Financial Solutions news, President Christopher John Perry sold 162 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $210.00, for a total value of $34,020.00. Following the sale, the president now owns 67,267 shares of the company’s stock, valued at approximately $14,126,070. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy C. Gokey sold 25,000 shares of Broadridge Financial Solutions stock in a transaction on Friday, August 16th. The stock was sold at an average price of $209.11, for a total value of $5,227,750.00. Following the transaction, the chief executive officer now directly owns 200,675 shares of the company’s stock, valued at $41,963,149.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,713 shares of company stock worth $27,967,456 over the last 90 days. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $246.00 price objective on shares of Broadridge Financial Solutions in a research note on Wednesday. Morgan Stanley boosted their price target on Broadridge Financial Solutions from $200.00 to $207.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on Broadridge Financial Solutions from $224.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, StockNews.com upgraded Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Broadridge Financial Solutions presently has an average rating of “Moderate Buy” and an average price target of $217.83.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. 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 distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.