Broadridge Financial Solutions (NYSE:BR) posted its quarterly earnings data on Tuesday. The business services provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.11, MarketWatch Earnings reports. The company had revenue of $973.00 million during the quarter, compared to analyst estimates of $970.19 million. Broadridge Financial Solutions had a net margin of 9.88% and a return on equity of 46.16%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.54 earnings per share. Broadridge Financial Solutions updated its FY19 guidance to $4.57 to $4.73 EPS and its FY 2019 guidance to $4.57-4.73 EPS.
Shares of NYSE BR traded down $9.36 during midday trading on Tuesday, reaching $107.22. 69,144 shares of the stock were exchanged, compared to its average volume of 915,529. The stock has a market cap of $13.55 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 2.49 and a beta of 0.95. Broadridge Financial Solutions has a 12 month low of $86.80 and a 12 month high of $138.24. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.96.
In other news, CEO Richard J. Daly sold 210,188 shares of Broadridge Financial Solutions 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 transaction, the chief executive officer now directly owns 387,336 shares of the company’s stock, valued at $51,182,579.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP James M. Young sold 44,726 shares of Broadridge Financial Solutions 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 directly owns 64,848 shares in the company, valued at $8,416,621.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 370,080 shares of company stock worth $48,514,337. Insiders own 2.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its holdings in shares of Broadridge Financial Solutions by 385.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 45,314 shares of the business services provider’s stock worth $5,973,000 after acquiring an additional 35,976 shares during the period. Unigestion Holding SA acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth $2,976,000. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Broadridge Financial Solutions by 4.8% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 299,702 shares of the business services provider’s stock worth $39,546,000 after acquiring an additional 13,637 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Broadridge Financial Solutions during the third quarter worth $229,000. Finally, Penserra Capital Management LLC raised its holdings in shares of Broadridge Financial Solutions by 238.1% during the third quarter. Penserra Capital Management LLC now owns 17,659 shares of the business services provider’s stock worth $2,329,000 after acquiring an additional 12,436 shares during the period. 84.55% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on BR shares. SunTrust Banks started coverage on shares of Broadridge Financial Solutions in a report on Wednesday, August 29th. They set a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research raised 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 report on Friday, August 10th. Sandler O’Neill reaffirmed a “hold” rating and set a $130.00 price objective on shares of Broadridge Financial Solutions in a report on Tuesday, August 7th. Finally, Wolfe Research started coverage on shares of Broadridge Financial Solutions in a report on Tuesday, July 17th. They set a “market perform” rating for the company. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $123.40.
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About Broadridge Financial Solutions
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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