Topic: How To Invest

What is Pat’s commentary for the week of April 9, 2024

Article Excerpt

Broadridge is far from a household name, except in households with members who work in the investment business. Regardless, since its spinoff from Automatic Data Processing (symbol ADP on Nasdaq) in 2007, Broadridge has become a key provider of services to financial, brokerage and wealth management firms. We added the stock as a buy in our February 2008 issue of Wall Street Stock Forecaster at $22 a share. The stock is now up 839.9% for our subscribers. Moreover, the stock has risen 47.7% over the last year, alone, and is trading near its recent all-time high. We see several reasons why the stock will go even higher. For one, Broadridge is now an artificial intelligence (AI) leader. AI is essentially the merging of today’s big computing with big data, and the company has both. Broadridge has a wealth of ongoing data to fuel its AI—from hundreds of broker-dealers and wealth managers to thousands of public companies and investment funds. In fact, last…