Topic: How To Invest

Stock Pickers Digest Hotline – Friday, August 12, 2016

Article Excerpt

BROADRIDGE FINANCIAL SOLUTIONS INC., $68.48, symbol BR on New York, reported higher sales and earnings in the latest quarter. The company serves the investment industry in three main areas: securities processing, transaction clearing and investor communications. It, in fact, processes 90% of all shareholder proxy votes in the U.S. and Canada. For its fiscal 2016 fourth quarter, which ended June 30, 2016, Broadridge’s revenue rose 4.8%, to $974.5 million from $929.6 million a year earlier. While the company continues to attract new clients, it is holding on to existing ones. Revenue from recurring fees jumped 9% in the quarter and accounted for 67% of the total. The period is Broadridge’s busiest time for processing shareholder proxies and annual reports. It typically makes half of its profits in those three months. Without one-time items, the company earned $176.0 million over the period. That’s up 2.3% from $172.0 million a year earlier…