Wendell David Associates Inc. Purchases 1,484 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)

Wendell David Associates Inc. raised its stake in Broadridge Financial Solutions, Inc. (NYSE:BR – Get Rating) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,054 shares of the business services provider’s stock after purchasing an additional 1,484 shares during the period. Broadridge Financial Solutions accounts for approximately 1.8% of Wendell David Associates Inc.’s investment portfolio, making the stock its 20th biggest position. Wendell David Associates Inc.’s holdings in Broadridge Financial Solutions were worth $15,735,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Front Row Advisors LLC bought a new position in shares of Broadridge Financial Solutions in the fourth quarter worth about $29,000. Riverview Trust Co acquired a new stake in Broadridge Financial Solutions during the 1st quarter valued at approximately $29,000. Sageworth Trust Co of South Dakota acquired a new stake in shares of Broadridge Financial Solutions during the 4th quarter worth approximately $30,000. First Command Bank acquired a new stake in Broadridge Financial Solutions in the 1st quarter valued at $30,000. Finally, Oakworth Capital Inc. grew its position in Broadridge Financial Solutions by 105.0% in the 1st quarter. Oakworth Capital Inc. now owns 205 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 105 shares during the period. Institutional investors and hedge funds own 87.01% of the company’s stock.

BR traded up $3.87 during trading hours on Monday, hitting $146.42. The stock had a trading volume of 6,658 shares, compared to its average volume of 549,598. The company’s fifty day simple moving average is $141.79 and its 200 day simple moving average is $151.59. Broadridge Financial Solutions, Inc. has a 1 year low of $132.40 and a 1 year high of $185.40. The stock has a market cap of $17.16 billion, a PE ratio of 31.42 and a beta of 0.92. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.29.

Broadridge Financial Solutions (NYSE:BR – Get Rating) last posted its earnings results on Tuesday, May 3rd. The business services provider reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.16. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. Broadridge Financial Solutions had a return on equity of 39.83% and a net margin of 9.99%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.76 EPS. As a group, equities analysts expect that Broadridge Financial Solutions, Inc. will post 6.49 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 15th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, June 14th. Broadridge Financial Solutions’s payout ratio is presently 54.94%.

Separately, StockNews.com initiated coverage on Broadridge Financial Solutions in a research note on Thursday, March 31st. They set a “hold” rating on the stock.

Broadridge Financial Solutions Profile (Get Rating)

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry worldwide. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and offers ProxyEdge, an electronic proxy delivery and voting solution.

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