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Broadridge Financial Solutions (BR)

Broadridge Financial Solutions, a global Fintech leader with over $4.5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. Broadridge delivers technology-driven solutions to banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. In addition, Broadridge's technology and operations platforms underpin the daily trading of on average more than U.S. $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is a part of the S&P 500® Index, employing over 12,000 associates in 17 countries.

Company profile

Ticker
BR
Exchange
CEO
Timothy C. Gokey
Employees
Incorporated
Location
Fiscal year end
Former names
BROADRIDGE FINANCIAL SOLUTIONS, LLC, BSG LLC
SEC CIK
Subsidiaries
Access Data Corp. • ActivePath Solutions Ltd. • AdvisorStream Ltd. • BFILS US Credit LLC • Bonaire Software Solutions, LLC • Broadridge Analytics Solutions Limited • Broadridge Asia Pacific Limited • Broadridge (Australia) Pty. Ltd. • Broadridge BPO Holding LLC • Broadridge Business Process Outsourcing, LLC ...

BR stock data

Calendar

12 Aug 22
15 Aug 22
30 Jun 23
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jun 22 Jun 21 Jun 20 Jun 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 224.7M 224.7M 224.7M 224.7M 224.7M 224.7M
Cash burn (monthly) 17.5M 4.15M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 26.69M 6.33M n/a n/a n/a n/a
Cash remaining 198.01M 218.37M n/a n/a n/a n/a
Runway (months of cash) 11.3 52.6 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Aug 22 Richard John Stingi Common Stock Grant Acquire A No No 0 1,904 0 5,272.799
10 Aug 22 Schifellite Robert Common Stock Grant Acquire A No No 0 7,845 0 59,372.673
10 Aug 22 Gokey Timothy C Common Stock Grant Acquire A No No 0 34,277 0 158,513.027
10 Aug 22 Daly Richard J Common Stock Grant Acquire A No No 0 1,523 0 143,555.995
10 Aug 22 Thomas P Carey Common Stock Grant Acquire A No No 0 4,569 0 11,288
13F holders Current Prev Q Change
Total holders 744 793 -6.2%
Opened positions 55 104 -47.1%
Closed positions 104 73 +42.5%
Increased positions 283 287 -1.4%
Reduced positions 265 245 +8.2%
13F shares Current Prev Q Change
Total value 15.43B 18.37B -16.0%
Total shares 99.56M 100.54M -1.0%
Total puts 69.7K 58.8K +18.5%
Total calls 67.5K 93.8K -28.0%
Total put/call ratio 1.0 0.6 +64.7%
Largest owners Shares Value Change
Vanguard 13.71M $2.14B +0.8%
BLK Blackrock 9.69M $1.51B +1.3%
STT State Street 4.75M $742.89M -3.9%
MS Morgan Stanley 4.46M $695.16M +33.2%
TROW T. Rowe Price 4.2M $653.46M +6.1%
APG Asset Management 4.02M $562.8M -0.1%
JHG Janus Henderson 3.81M $593.8M -18.3%
Baillie Gifford & Co 3.76M $586.11M -9.1%
Geode Capital Management 2.28M $353.91M +3.7%
Jensen Investment Management 1.68M $262.31M +0.8%
Largest transactions Shares Bought/sold Change
MS Morgan Stanley 4.46M +1.11M +33.2%
Norges Bank 0 -1.06M EXIT
JHG Janus Henderson 3.81M -852K -18.3%
Caisse De Depot Et Placement Du Quebec 1.2M +554.81K +86.6%
Bristol Gate Capital Partners 0 -539.1K EXIT
Parnassus Investments 1.32M +383.15K +40.8%
Baillie Gifford & Co 3.76M -375.61K -9.1%
IVZ Invesco 928.89K -365.16K -28.2%
TROW T. Rowe Price 4.2M +242.88K +6.1%
STT State Street 4.75M -192.74K -3.9%

Financial report summary

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Competition
Exela
Risks
  • Consolidation in the financial services industry could adversely affect our revenues by eliminating some of our existing and potential clients and could make us increasingly dependent on a more limited number of clients.
  • A large percentage of our revenues are derived from a small number of clients in the financial services industry and the loss of any of such clients could have a material impact on our revenues and also result in an asset write-down of our client onboarding costs.
  • Security breaches or cybersecurity attacks could adversely affect our ability to operate, could result in personal, confidential or proprietary information being misappropriated, and may cause us to be held liable or suffer harm to our reputation.
  • The Covid-19 pandemic may negatively impact our business, results of operations and financial performance.
  • Our business and results of operations may be adversely affected if we do not comply with legal and regulatory requirements that apply to our services or businesses, and new laws or regulations and/or changes to existing laws or regulations to which we are subject may adversely affect our ability to conduct our business or may reduce our profitability.
  • Our revenues may decrease due to declines in the levels of participation and activity in the securities markets.
  • We may be adversely impacted by a failure of third-party service providers to perform their functions.
  • We rely on the United States Postal Service (“USPS”) and other third-party carriers to deliver communications and changes in our relationships with these carriers or an increase in postal rates or shipping costs may adversely impact demand for our products and services and could have an adverse impact on our business and results of operations.
  • In the event of a disaster, our disaster recovery and business continuity plans may fail, which could result in the loss of client data and adversely interrupt operations.
  • Any slowdown or failure of our computer or communications systems could impact our ability to provide services to our clients and support our internal operations and could subject us to liability for losses suffered by our clients or their customers.
  • The inability to properly perform our services or operational errors in the performance of our services could lead to liability for claims, client loss and result in reputational damage.
  • General economic and political conditions and broad trends in business and finance that are beyond our control may contribute to reduced levels of activity in the securities markets, which could result in lower revenues from our business operations.
  • If the operational systems and infrastructure that we depend on fail to keep pace with our growth, we may experience operating inefficiencies, client dissatisfaction and lost revenue opportunities.
  • If we are unable to respond to the demands of our existing and new clients, or adapt to technological changes or advances, our business and future growth could be impacted.
  • Intense competition could negatively affect our ability to maintain or increase our business, financial condition, and results of operations.
  • We may be unable to attract and retain key personnel.
  • The inability to identify, obtain, retain, enforce and protect important intellectual property rights to technology could harm our business.
  • Our products and services, and the products and services provided to us by third parties, may infringe upon intellectual property rights of third parties, and any infringement claims, whether initiated by or against us, could require us to incur substantial costs, distract our management, or prevent us from conducting our business.
  • Acquisitions and integrating such acquisitions create certain risks and may affect operating results.
  • We have incurred additional debt in connection with the Itiviti acquisition, which could have a negative impact on our financing options and liquidity position, which could in turn adversely affect our business.
  • We may incur non-cash impairment charges in the future associated with our portfolio of intangible assets, including goodwill.
  • We operate internationally and our operations could be adversely impacted by local legal, economic, political and other conditions.
  • Certain of our services may be exposed to risk from our counterparties and third parties.
Management Discussion
  • ITEM 7.    Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • This discussion summarizes the significant factors affecting the results of operations and financial condition of Broadridge during the fiscal years ended June 30, 2022 and 2021, and should be read in conjunction with our Consolidated Financial Statements and accompanying Notes thereto included elsewhere herein. Certain information contained in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words such as “expects,” “assumes,” “projects,” “anticipates,” “estimates,” “we believe,” “could be,” “on track” and other words of similar meaning, are forward-looking statements. These statements are based on management’s expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Our actual results, performance or achievements may differ materially from the results discussed in this Item 7 because of various factors, including those set forth elsewhere herein. See “Forward-Looking Statements” and “Risk Factors” included in Part 1 of this Annual Report on Form 10-K.
  • The discussion summarizing the significant factors affecting the results of operations and financial condition of Broadridge during the fiscal year ended June 30, 2020 can be found in Part II, “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our Annual Report on Form 10-K for the fiscal year 2021 (the “2021 Annual Report”), which was filed with the Securities and Exchange Commission on August 12, 2021.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: abroad, absence, Addendum, Amazon, assignment, attrition, AWS, baseline, broader, career, chartered, code, coincide, conflict, constantly, consulting, dashboard, de, DEI, disparate, DSS, edmund, emission, Expert, fact, feel, gas, geopolitical, greenhouse, ID, inaugural, incidental, Indian, inflow, invalidation, invasion, invention, Japan, journey, Krona, KYC, Kyndryl, live, Medicaid, Medicare, move, novated, novation, opposition, overseen, overwhelming, PCI, penetration, Petersburg, Poland, presence, Presidio, promulgated, psychologically, published, purported, purportedly, reese, Resale, resell, reseller, Romania, row, Rupee, Russian, Singapore, speculative, spot, St, swap, taskforce, tied, treated, Ukraine, unenforceability, volunteer, wind, winding, written
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Patents

Utility
Portable Computing Devices Optimized for Displaying Different Content Types and Single Action-programmed Graphical User Elements, and Methods/systems of Use Thereof
28 Jul 22
In one embodiment, the instant disclosure provides a portable computing device that includes at least: a processor; a non-transient computer media; computer instructions, and where, when the processor executes the computer instructions, the portable computing device is programmed to: transmit an electronic request to establish a user session related to an event, where the electronic request includes a user-specific event-specific identifier that is uniquely related to a user and the event; display, during the user session, an user-specific app-like graphical user interface including: a first interface area displaying a text-based content related to the user-specific event-specific identifier and the event, a second interface area displaying a live virtual event content related to the user-specific event-specific identifier and the event, a graphical user interface element that has been programmed to automatically execute a user-specific action related to the event when a user activates the graphical user interface element in a single action.
Utility
Methods and Systems Configured for Processing Interface Elements
23 Jun 22
One embodiment of the present invention relates to electronic voting methods and systems that help simplify the management of institutional proxies.
Utility
System and method for selecting a financial instrument to trade based on a match between a preferred measure of expected return of a user in computer platforms configured for improved electronic execution of electronic transactions
31 May 22
Systems and methods of the present disclosure enable an electronic transaction platform that receives a request to begin the electronic communication session identifying a preferred instrument feature relating to the target financial instrument to be traded.
Utility
System and Method for Controlling Communications In Computer Platforms Designed for Improved Electronic Execution of Electronic Transactions
5 May 22
Systems and methods for an electronic transaction platform that enables receiving a session request for an electronic communication session over a computing network to facilitate a financial instrument transaction.
Utility
Methods and systems for proxy voting
15 Mar 22
One embodiment of the present invention relates to electronic voting methods and systems that help simplify the management of institutional proxies.