Carey Thomas P, Corporate Vice President at Broadridge Financial Solutions , Inc. (NYSE:BR), recently executed significant stock transactions, according to a filing with the Securities and Exchange Commission. The company, which currently commands a market capitalization of $27.2 billion, has shown strong momentum with its stock trading near its 52-week high of $237.74. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with a robust financial health score of "GOOD." On December 3, Thomas sold a total of 15,710 shares of Broadridge Financial stock, amounting to approximately $3.6 million. The shares were sold at an average price of $230.32, with transactions occurring at prices ranging from $229.94 to $231.44. The stock has delivered impressive returns, with a one-year total return of 21% and maintaining a strong dividend track record. InvestingPro subscribers can access 13 additional key insights and a comprehensive Pro Research Report, offering deeper analysis of Broadridge's valuation and growth prospects.
In addition to these sales, Thomas exercised stock options to acquire 15,167 shares at a price of $117.34 per share. Following these transactions, Thomas holds 12,146 shares directly. These moves reflect a strategic rebalancing of his holdings within the company, which has maintained consistent profitability with a return on equity of 32% and operates with a moderate debt level.
In other recent news, Broadridge Financial Solutions reported a robust fiscal first quarter 2025, with a 4% increase in recurring revenue, a record $57 million in closed sales, marking a 21% increase year-over-year. The company's adjusted earnings per share (EPS) stood at $1, and they upgraded their recurring revenue guidance for fiscal 2025 to 6%-8%, up from the previously forecasted 5%-7%. UBS initiated coverage on Broadridge with a Neutral rating, citing potential for steady recurring revenue growth and a fiscal 2025 EPS estimate of $8.56. However, UBS remains cautious due to what it considers a "fairly full" valuation.
In other company news, Broadridge's shareholders approved all management's proposals at its 2024 Annual Meeting, including the election of 10 directors, the Say on Pay vote, and the ratification of Deloitte & Touche LLP as the company's independent auditors. DA Davidson increased Broadridge's price target from $205.00 to $210.00, maintaining a neutral rating on the stock, following the company's fiscal first-quarter earnings.
Lastly, Broadridge continues to explore merger and acquisition opportunities while maintaining a focus on organic growth, with a robust sales pipeline and a backlog of $450 million. These are recent developments in the company's activities.
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