In a report released today, Mark Palmer from BTIG reiterated a Buy rating on Broadridge Financial Solutions (BR), with a price target of $135.00. The company’s shares closed last Friday at $116.81.
According to TipRanks.com, Palmer is a top 100 analyst with an average return of 13.9% and a 66.7% success rate. Palmer covers the Financial sector, focusing on stocks such as International Money Express, Sutter Rock Capital, and Synchrony Financial.
Currently, the analyst consensus on Broadridge Financial Solutions is a Moderate Buy with an average price target of $126.67.
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Based on Broadridge Financial Solutions’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.25 billion and net profit of $167 million. In comparison, last year the company earned revenue of $1.22 billion and had a net profit of $172 million.
Based on the recent corporate insider activity of 114 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BR in relation to earlier this year. Earlier this month, Robert Kalenka, the Corp. VP of BR sold 13,170 shares for a total of $1,602,789.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Broadridge Financial Solutions, Inc. engages in the provision of investor communications and technology solutions to banks, broker-dealers, mutual funds, and corporate issuers. It operates through the following segments: Investor Communication Solutions; and Global Technology and Operations. The Investor Communication Solutions segment offers services for broker-dealer investor communication, customer communication, corporate issuer, advisor solutions, and mutual fund and retirement solutions. The Global Technology and Operations segment includes middle and back-office securities processing solutions, automation services, and business process outsourcing services. The company was founded in 1962 and is headquartered in Lake Success, NY.
