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Broadridge Financial Solutions, Inc. (BR) - free report >>
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Broadridge Financial Solutions, Inc. (BR) - free report >>
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Broadridge (BR) Announces the Acquisition of AdvisorTarget
Broadridge Financial Solutions, Inc. (BR - Free Report) has had an impressive run over the past year. The company’s shares have gained a whopping 32.3%, significantly outperforming the 16.5% rally of the industry it belongs to and the 26% rise of the Zacks S&P 500 composite.
The company today announced the acquisition of AdvisorTarget, a provider of data products to asset management and wealth Management firms. The move is aimed at supporting clients with more personalized and effective marketing campaigns.
Broadridge Financial Solutions, Inc. Price
Broadridge Financial Solutions, Inc. price | Broadridge Financial Solutions, Inc. Quote
The acquisition is expected to expand Broadridge’s capabilities in digital distribution and marketing for asset management and wealth firms, thereby strengthening the company’s market position and driving growth in the digital marketing space. The buyout will bolster Broadridge's suite of tools, combining AdvisorTarget’s advanced marketing automation and analytics technology.
Commenting on the acquisition, Dan Cwenar, head of Data and Analytics at Broadridge, said, "The combined capability this acquisition creates is unique, as it pairs AdvisorTarget's advisor behavioral data with Broadridge's insights on asset holdings to unleash a new level of precision for asset managers, making sales efforts laser-targeted at interested buyers."
The move seems to be a part of Broadridge’s broader strategy of developing global platform capabilities and using next-generation solutions to improve its offerings.
BR currently carries a Zacks Rank #3 (Hold).
Zacks Rank and Stocks to Consider
Some better-ranked stocks in the broader Zacks Business Services sector are Kyndryl Holdings, Inc. (KD - Free Report) and Sprinklr (CXM - Free Report) .
Kyndryl Holdings, Inc. currently flaunts a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
KD has a long-term earnings growth expectation of 5%. It delivered a trailing four-quarter earnings surprise of 29.5%, on average.
Sprinklr carries a Zacks Rank of 2 (Buy) at present. It has a long-term earnings growth expectation of 30%.
CXM delivered a trailing four-quarter earnings surprise of 176.8%, on average.