Rosenblatt Securities analyst Kenneth Hill reiterated a Hold rating on Broadridge Financial Solutions (BR) yesterday and set a price target of $127.00. The company’s shares closed last Tuesday at $142.11, close to its 52-week high of $144.50.
According to TipRanks.com, Hill is a 5-star analyst with an average return of 11.4% and a 66.0% success rate. Hill covers the Financial sector, focusing on stocks such as Intercontinental Exchange, SEI Investments Company, and Marketaxess Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Broadridge Financial Solutions with a $135.00 average price target, representing a -2.8% downside. In a report issued on August 5, D.A. Davidson also downgraded the stock to Hold with a $138.00 price target.
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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 117 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. Most recently, in June 2020, Robert Schifellite, the Corporate SVP of BR sold 26,000 shares for a total of $3,292,640.
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.
