Broadridge Financial Solutions (BR) was Downgraded by Sandler O’Neill to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Sandler O’Neill advised their investors in a research report released on Sep 29, 2016.
Many Wall Street Analysts have commented on Broadridge Financial Solutions. Barclays Downgraded Broadridge Financial Solutions on Jul 7, 2016 to ” Equal Weight”, Price Target of the shares are set at $67.
On the company’s financial health, Broadridge Financial Solutions reported $1.45 EPS for the quarter, based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus estimate of $1.45. The company had revenue of $974.50 million for the quarter, compared to analysts expectations of $988.65 million. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 EPS.
Broadridge Financial Solutions closed down -0.8 points or -1.14% at $69.07 with 10,59,308 shares getting traded on Tuesday. Post opening the session at $69.7, the shares hit an intraday low of $68.97 and an intraday high of $69.84 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Sep 27, 2016, Richard J Daly (President and CEO) sold 244,935 shares at $69.18 per share price. According to the SEC, on Sep 1, 2016, Robert Schifellite (Corporate Senior VP) sold 9,000 shares at $69.30 per share price. On Aug 31, 2016, Lyell Dampeer (Corporate Vice President) sold 1,376 shares at $69.04 per share price, according to the Form-4 filing with the securities and exchange commission.
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 delivers a range of solutions that help its clients serve their retail and institutional customers across the entire investment lifecycle including pre-trade trade and post-trade processing. It serves a diverse client base across its five businesses: Bank/Broker-Dealer Investor Communication Solutions Corporate Issuer Solutions Advisor Solutions Mutual Fund and Retirement Solutions and Global Technology and Operations. Its businesses operate in two business segments: Investor Communication Solutions and Global Technology and Operations. Its services include investor communications securities processing and data and analytics solutions. It provides an infrastructure that helps the financial services industry operate. It provides financial services firms with integrated systems.