Client loyalty drives earnings

Article Excerpt

BROADRIDGE FINANCIAL $63.18 (New York symbol BR; TSINetwork Rating: Average) (201-714-3000; www.broadridge.com; Shares outstanding: 118.8 million; Market cap: $7.3 billion; Dividend yield: 1.9%) serves the investment industry in two main areas: investor communications, and securities processing and transaction clearing. It handles 90% of all proxy votes in the U.S. and Canada. In the three months ended March 31, 2016, Broadridge’s earnings per share rose 23.4%, to $0.58 from $0.47. Revenue also improved. It gained 8.6%, to $688.8 million from $634.2 million. While the company continues to attract new clients, it’s holding on to existing ones. That’s pushing up sales and profits—and pushing the stock to all-time highs. Broadridge is a buy. buy…