Ardevora Asset Management Llp buys $28.5 Million stake in Broadridge Financial Solutions (BR)

Broadridge Financial Solutions (BR) : Ardevora Asset Management Llp scooped up 58,700 additional shares in Broadridge Financial Solutions during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 460,743 shares of Broadridge Financial Solutions which is valued at $28.5 Million.Broadridge Financial Solutions makes up approximately 1.38% of Ardevora Asset Management Llp’s portfolio.

Other Hedge Funds, Including , Amalgamated Bank boosted its stake in BR in the latest quarter, The investment management firm added 1,114 additional shares and now holds a total of 14,726 shares of Broadridge Financial Solutions which is valued at $909,331. Broadridge Financial Solutions makes up approx 0.09% of Amalgamated Bank’s portfolio.Hanseatic Management Services Inc reduced its stake in BR by selling 34,180 shares or 65.06% in the most recent quarter. The Hedge Fund company now holds 18,360 shares of BR which is valued at $1.1 Million. Broadridge Financial Solutions makes up approx 0.40% of Hanseatic Management Services Inc’s portfolio.Clarkston Capital Partners boosted its stake in BR in the latest quarter, The investment management firm added 49,279 additional shares and now holds a total of 1,146,785 shares of Broadridge Financial Solutions which is valued at $69.1 Million. Broadridge Financial Solutions makes up approx 3.83% of Clarkston Capital Partners’s portfolio.Commerce Bank reduced its stake in BR by selling 72 shares or 1.34% in the most recent quarter. The Hedge Fund company now holds 5,285 shares of BR which is valued at $316,254. Broadridge Financial Solutions makes up approx 0.01% of Commerce Bank’s portfolio.

Broadridge Financial Solutions opened for trading at $62.88 and hit $64.02 on the upside on Friday, eventually ending the session at $63.79, with a gain of 1.82% or 1.14 points. The heightened volatility saw the trading volume jump to 11,21,696 shares. Company has a market cap of $7,541 M.

On the company’s financial health, Broadridge Financial Solutions reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.51. The company had revenue of $688.80 million for the quarter, compared to analysts expectations of $686.40 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.

Investors should note that on May 3, 2016, Broadridge Financial Solutions announced a cash dividend of $0.3000. The company’s management has announced Jun 15, 2016 as the ex-dividend date and fixed the record date on Jun 17, 2016. The payable date has been fixed on Jul 1, 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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