Wellesley Investment Partners buys $816,008 stake in Broadridge Financial Solutions (BR)

Broadridge Financial Solutions (BR) : Wellesley Investment Partners scooped up 490 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 10, 2016. The investment management firm now holds a total of 11,916 shares of Broadridge Financial Solutions which is valued at $816,008.Broadridge Financial Solutions makes up approximately 0.43% of Wellesley Investment Partners’s portfolio.

Other Hedge Funds, Including , Tower Research Capital (trc) boosted its stake in BR in the latest quarter, The investment management firm added 4,654 additional shares and now holds a total of 5,898 shares of Broadridge Financial Solutions which is valued at $403,895. Broadridge Financial Solutions makes up approx 0.04% of Tower Research Capital (trc)’s portfolio.Quantbot Technologies Lp reduced its stake in BR by selling 1,098 shares or 61.14% in the most recent quarter. The Hedge Fund company now holds 698 shares of BR which is valued at $47,450.

Broadridge Financial Solutions opened for trading at $67 and hit $67.12 on the upside on Friday, eventually ending the session at $67, with a gain of 0.15% or 0.1 points. The heightened volatility saw the trading volume jump to 8,52,169 shares. Company has a market cap of $7,925 M.

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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