Corporate Vice Presidentident Of Broadridge Financial Soln Trades $5.01 Million In Company Stock

Vijay Mayadas, Corporate Vice Presidentident at Broadridge Financial Soln BR, made a large buy and sell of company shares on September 7, according to a new SEC filing.

What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission reports that on September 7, Vijay Mayadas bought 27,901 Broadridge Financial Soln shares at a price of $36.97 per share, for a total of $1,031,500. They then sold their shares on multiple transactions in the open market at prices ranging from $169.42 to $171.10 to raise a total of $3,974,800 from the sale.

They still own a total of 27,598 of Broadridge Financial Soln worth, $4,742,716.

Broadridge Financial Soln shares were up at $171.85 after Wednesday's closing.

Why Insider Transactions Are Important

Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision.

In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.

When a company insider makes a new purchase, that is an indication that they expect the stock to rise.

Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.

Important Transaction Codes

Investors prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.

Check Out The Full List Of Broadridge Financial Soln's Insider Trades.

Market News and Data brought to you by Benzinga APIs
Posted In: NewsInsider TradesTrading IdeasBZI-ITinsider buysVijay Mayadas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!