Parallel Advisors LLC Buys 1,345 Shares of Broadridge Financial Solutions, Inc. (BR)

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Parallel Advisors LLC lifted its stake in Broadridge Financial Solutions, Inc. (NYSE:BR) by 851.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,503 shares of the business services provider’s stock after purchasing an additional 1,345 shares during the quarter. Parallel Advisors LLC’s holdings in Broadridge Financial Solutions were worth $198,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BR. Truvestments Capital LLC bought a new stake in shares of Broadridge Financial Solutions in the third quarter valued at approximately $106,000. Squar Milner Financial Services LLC bought a new stake in shares of Broadridge Financial Solutions in the second quarter valued at approximately $109,000. Bartlett & Co. LLC boosted its stake in shares of Broadridge Financial Solutions by 375.0% in the second quarter. Bartlett & Co. LLC now owns 950 shares of the business services provider’s stock valued at $109,000 after buying an additional 750 shares during the period. Fort L.P. bought a new stake in shares of Broadridge Financial Solutions in the second quarter valued at approximately $120,000. Finally, Signaturefd LLC boosted its stake in shares of Broadridge Financial Solutions by 101.6% in the second quarter. Signaturefd LLC now owns 1,115 shares of the business services provider’s stock valued at $128,000 after buying an additional 562 shares during the period. Institutional investors and hedge funds own 84.55% of the company’s stock.

BR has been the subject of several research analyst reports. SunTrust Banks initiated coverage on shares of Broadridge Financial Solutions in a research report on Wednesday, August 29th. They set a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research upgraded shares of Broadridge Financial Solutions from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Friday, August 10th. Wolfe Research initiated coverage on shares of Broadridge Financial Solutions in a research report on Tuesday, July 17th. They set a “market perform” rating for the company. Finally, Sandler O’Neill restated a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a research report on Tuesday, August 7th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $123.40.

Shares of BR opened at $116.31 on Monday. Broadridge Financial Solutions, Inc. has a one year low of $86.29 and a one year high of $138.24. The company has a market cap of $13.55 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 2.49 and a beta of 0.95. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.28 and a quick ratio of 1.28.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Tuesday, August 7th. The business services provider reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.01). The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Broadridge Financial Solutions had a return on equity of 46.16% and a net margin of 9.88%. On average, sell-side analysts anticipate that Broadridge Financial Solutions, Inc. will post 4.67 earnings per share for the current fiscal year.

In other news, CEO Richard J. Daly sold 210,188 shares of the company’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $132.14, for a total transaction of $27,774,242.32. Following the completion of the transaction, the chief executive officer now directly owns 387,336 shares in the company, valued at $51,182,579.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James M. Young sold 44,726 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $129.79, for a total transaction of $5,804,987.54. Following the transaction, the vice president now owns 64,848 shares of the company’s stock, valued at $8,416,621.92. The disclosure for this sale can be found here. Insiders have sold 370,080 shares of company stock valued at $48,514,337 over the last quarter. Company insiders own 2.30% of the company’s stock.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. 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 offers ProxyEdge, an electronic proxy delivery and voting solution.

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Institutional Ownership by Quarter for Broadridge Financial Solutions (NYSE:BR)

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