Here’s our Pick of the Month

Article Excerpt

BROADRIDGE FINANCIAL SOLUTIONS $118.81 (New York symbol BR; TSINetwork Rating: Average) (201-714-3000; www.broadridge.com; Shares outstanding: 116.3 million; Market cap: $13.8 billion; Dividend yield: 1.6%) serves the investment industry in three main areas: investor communications, securities processing and transaction clearing. For the quarter ended June 30, 2018, revenue fell 1.9%, to $1.32 billion from $1.01 billion. Major proxy battles contributed to the year-earlier quarter. Excluding one-time items, earning rose 9.5%, to 223.7 million, or $1.86 a share, from $204.3 million, or $1.71. U.S. tax cuts boosted profits. Since 2016, Broadridge has made 12 acquisitions. Some have added to its product offerings. Others have helped keep the company at the forefront of the industry’s rapid technological change. That new technology uses blockchain, or shared digital ledgers, to permanently record key shareholder actions and reduce the risk of data loss or hacking. In addition, Broadridge has added artificial intelligence and vast cloud storage to its processes. This lets it boost accuracy by better screening for potential human mistakes…