Research analysts at DA Davidson initiated coverage on shares of Broadridge Financial Solutions, Inc. (NYSE:BR) in a report released on Monday, The Fly reports. The firm set a “neutral” rating on the business services provider’s stock.

A number of other equities research analysts have also issued reports on BR. BidaskClub lowered shares of Broadridge Financial Solutions from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of Broadridge Financial Solutions from a “sell” rating to a “hold” rating in a report on Monday, April 10th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $75.00.

Broadridge Financial Solutions (NYSE BR) traded down 0.08% during trading on Monday, reaching $75.60. 322,701 shares of the company traded hands. The company has a market capitalization of $8.89 billion, a P/E ratio of 29.61 and a beta of 0.99. The firm has a 50-day moving average price of $75.52 and a 200-day moving average price of $71.08. Broadridge Financial Solutions has a 52 week low of $59.86 and a 52 week high of $78.00.

Broadridge Financial Solutions (NYSE:BR) last released its earnings results on Wednesday, May 10th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.10. Broadridge Financial Solutions had a net margin of 8.21% and a return on equity of 34.74%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $997.65 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The company’s revenue for the quarter was up 46.4% compared to the same quarter last year. Analysts forecast that Broadridge Financial Solutions will post $3.12 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://www.americanbankingnews.com/2017/08/07/broadridge-financial-solutions-inc-br-now-covered-by-da-davidson.html.

In other Broadridge Financial Solutions news, insider Robert Schifellite sold 76,666 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $75.98, for a total value of $5,825,082.68. Following the transaction, the insider now owns 105,042 shares of the company’s stock, valued at $7,981,091.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas Richard Deschutter sold 34,385 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $75.17, for a total transaction of $2,584,720.45. Following the completion of the transaction, the insider now directly owns 106,653 shares in the company, valued at approximately $8,017,106.01. The disclosure for this sale can be found here. Insiders sold 323,032 shares of company stock worth $24,016,648 in the last ninety days. 3.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of BR. Macquarie Group Ltd. boosted its stake in shares of Broadridge Financial Solutions by 12.4% in the fourth quarter. Macquarie Group Ltd. now owns 65,476 shares of the business services provider’s stock valued at $4,342,000 after buying an additional 7,200 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Broadridge Financial Solutions by 20.4% in the first quarter. OppenheimerFunds Inc. now owns 12,353 shares of the business services provider’s stock valued at $839,000 after buying an additional 2,092 shares in the last quarter. Confluence Investment Management LLC boosted its stake in shares of Broadridge Financial Solutions by 2.6% in the second quarter. Confluence Investment Management LLC now owns 994,106 shares of the business services provider’s stock valued at $75,115,000 after buying an additional 25,421 shares in the last quarter. Morgan Stanley boosted its stake in shares of Broadridge Financial Solutions by 47.0% in the first quarter. Morgan Stanley now owns 454,416 shares of the business services provider’s stock valued at $30,878,000 after buying an additional 145,274 shares in the last quarter. Finally, Boston Financial Mangement LLC boosted its stake in shares of Broadridge Financial Solutions by 4.1% in the first quarter. Boston Financial Mangement LLC now owns 137,643 shares of the business services provider’s stock valued at $9,353,000 after buying an additional 5,475 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors.

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.

The Fly

Receive News & Ratings for Broadridge Financial Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadridge Financial Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.