Broadridge’s growth plans add appeal

Article Excerpt

BROADRIDGE FINANCIAL SOLUTIONS $131.27 (New York symbol BR; TSINetwork Rating: Average) (201-714-3000; www.broadridge.com; Shares o/s: 116.1 million; Market cap: $15.0 billion; Dividend yield: 1.7%) serves the investment industry in three main areas: investor communications, securities processing and transaction clearing. In the quarter ended June 30, 2019, revenue fell 8.3%, to $1.21 billion from $1.32 billion a year earlier. If you adjust the year-earlier revenue for a new accounting rule, revenue in the quarter gained 1%. Excluding one-time items, the company earned $1.72 in the latest quarter. That’s down 8.5% from $1.86. Since 2016, Broadridge has made 13 acquisitions. Some added to its product offerings. Others have helped keep it at the forefront of the industry’s rapid technological change. This includes new technologies set to help the company with its plan to digitize back-office processing. That will cut costly paper use and speed up transactions. Broadridge will also be better able to update its software and procedures. It will therefore be able to more quickly…