Ardevora Asset Management Llp buys $34,155,164 stake in Broadridge Financial Solutions (BR)

Broadridge Financial Solutions (BR) : Ardevora Asset Management Llp scooped up 33,400 additional shares in Broadridge Financial Solutions during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 494,143 shares of Broadridge Financial Solutions which is valued at $34,155,164.Broadridge Financial Solutions makes up approximately 1.35% of Ardevora Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Wealthsource Partners boosted its stake in BR in the latest quarter, The investment management firm added 520 additional shares and now holds a total of 8,265 shares of Broadridge Financial Solutions which is valued at $571,277. Broadridge Financial Solutions makes up approx 0.21% of Wealthsource Partners’s portfolio.Forward Management reduced its stake in BR by selling 587 shares or 3.95% in the most recent quarter. The Hedge Fund company now holds 14,273 shares of BR which is valued at $970,279. Broadridge Financial Solutions makes up approx 0.08% of Forward Management’s portfolio.Mcqueen Ball Associates reduced its stake in BR by selling 75 shares or 0.69% in the most recent quarter. The Hedge Fund company now holds 10,835 shares of BR which is valued at $737,322. Broadridge Financial Solutions makes up approx 0.51% of Mcqueen Ball Associates’s portfolio. Vigilant Capital Management added BR to its portfolio by purchasing 260 company shares during the most recent quarter which is valued at $17,571.

Broadridge Financial Solutions closed down -0.49 points or -0.72% at $67.99 with 8,79,494 shares getting traded on Monday. Post opening the session at $68.48, the shares hit an intraday low of $67.9395 and an intraday high of $68.57 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

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.Broadridge Financial Solutions was Downgraded by Avondale to ” Mkt Perform” on Jun 15, 2016. Broadridge Financial Solutions was Downgraded by Raymond James to ” Mkt Perform” on Jun 7, 2016.

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.

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