Power your gains with these tech leaders

Article Excerpt

Broadridge’s clients are mostly big corporations, while NortonLifeLock targets the consumer market. But both have winning business models that we expect will lead to strong growth in future years. We recommend Broadridge as a Power Buy and NortonLifeLock as a buy. BROADRIDGE FINANCIAL SOLUTIONS, $177.63, is a buy. The company (New York symbol BR; TSINetwork Rating: Average) (www.broadridge.com; Shares o/s: 117.2 million; Market cap: $20.8 billion; Divd. yield: 1.6%) serves the investment industry in three areas: investor communications, securities processing and transaction clearing. In its fiscal 2022 fourth quarter, ended June 30, 2022, revenue rose 12.5%, to $1.72 billion from $1.53 billion a year earlier. The company earned $2.65 in the quarter. That’s up 21.0% from $2.19. Broadridge will raise its quarterly dividend by 13.3% with the October 2022 payment. The shares now yield 1.6%. The company stands to gain from the growing push by the financial services industry to improve efficiency and lower costs. New regulations in the U.S. (“Regulation Best Interest”) and Europe (“Shareholder Rights Directive”) also…

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