Carey Thomas P, Corporate Vice President at Broadridge Financial Solutions , Inc. (NYSE:BR), executed a series of stock transactions on November 11, 2024. Thomas sold a total of 10,757 shares of Broadridge Financial, generating approximately $2.4 million. The shares were sold at a weighted average price of $226.816 per share, with prices ranging from $226.52 to $227.30.
In addition to the sales, Thomas also exercised stock options, acquiring 8,969 shares at an exercise price of $93.88 per share. Following these transactions, Thomas holds 12,689 shares directly.
In other recent news, Broadridge Financial Solutions reported strong fiscal first quarter 2025 results, with a 4% rise in recurring revenue and a record $57 million in closed sales, marking a 21% increase year-over-year. The company also disclosed an adjusted earnings per share (EPS) of $1. Analysts from DA Davidson subsequently increased the price target for Broadridge from $205.00 to $210.00, maintaining a neutral rating on the stock. Despite the E-Trade deconversion presenting a 170 basis point headwind to revenue growth, Broadridge remains optimistic about achieving its three-year financial objectives, emphasizing its focus on innovation and long-term growth strategies. The company also upgraded its recurring revenue guidance for fiscal 2025 to 6%-8%, up from the previously forecasted 5%-7%. Additionally, Broadridge is exploring merger and acquisition opportunities while maintaining a focus on organic growth, with a robust sales pipeline and a backlog of $450 million. These are some of the recent developments concerning Broadridge Financial Solutions.
InvestingPro Insights
As Carey Thomas P's recent stock transactions at Broadridge Financial Solutions, Inc. (NYSE:BR) come into focus, it's worth examining some key financial metrics and insights provided by InvestingPro.
Broadridge's stock is currently trading near its 52-week high, with a price of $226.21 as of the last close. This aligns with the company's strong market performance, reflected in its impressive 29.82% total return over the past year. The company's market capitalization stands at $26.56 billion, underlining its significant presence in the financial technology sector.
InvestingPro Tips highlight that Broadridge has raised its dividend for 17 consecutive years, demonstrating a commitment to shareholder returns. This is particularly noteworthy given that the company operates with a moderate level of debt, balancing growth with financial stability.
However, investors should note that the stock is trading at a high P/E ratio of 38.93, which is elevated relative to its near-term earnings growth. This valuation metric suggests that the market has high expectations for Broadridge's future performance.
For those seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for Broadridge Financial Solutions, providing a deeper understanding of the company's financial health and market position.
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