Broadridge: Lowering Our Fair Value Estimate as We Account for a Wider Range of Outcomes
We’ve updated our model for Broadridge and are incorporating a more probabilistic approach.
We’ve updated our model for Broadridge and are incorporating a more probabilistic approach.
Broadridge has a dominant market share position in delivering proxies and interims to beneficial shareholders. Direct indexing and the rise of retail investing can support position growth beyond consensus expectations.
Broadridge’s fees are set by the NYSE proxy working group, which is overseen by the SEC. A fee review could have a negative impact. In addition, asset managers continue to face fee pressures and may be more mindful of regulatory fees in Broadridge's mutual fund and ETF interim business.
|
Metric
|
BR
|
SSNC
|
SEIC
|
|---|---|---|---|
Price/Earnings (Normalized) | 18.48 | 13.58 | 17.93 |
Price/Book Value | 7.15 | 2.82 | 4.96 |
Price/Sales | 2.79 | 2.96 | 5.12 |
Price/Cash Flow | 13.33 | 10.31 | 14.84 |
|
Metric
|
BR
|
SSNC
|
SEIC
|
|---|---|---|---|
Quick Ratio | 1.08 | 1.02 | 4.08 |
Current Ratio | 1.24 | 1.06 | 4.31 |
Interest Coverage | 13.83 | 3.48 | 475.49 |
|
Metric
|
BR
|
SSNC
|
SEIC
|
|---|---|---|---|
Return on Assets (Normalized) | 13.01% | — | 23.65% |
Return on Equity (Normalized) | 40.65% | — | 31.00% |
Return on Invested Capital (Normalized) | 19.35% | — | 26.69% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| International Business Machines Corp
IBM
| LOCK|hyH^<YQ | LOCK|YRq$X | $244B | |||
| Accenture PLC Class A
ACN
| LOCK|?Tk!j? | LOCK|tT^P | $151B | |||
| Infosys Ltd ADR
INFY
| LOCK|dBnt?& | LOCK|g&VcP | $49B | |||
| Cognizant Technology Solutions Corp Class A
CTSH
| LOCK|JKKTf@Z | LOCK|%x<t | $28B | |||
| Fiserv Inc
FISV
| LOCK|#^?XxT | LOCK|nl@% | $26B | |||
| Wipro Ltd ADR
WIT
| LOCK|#V?Wgcq | LOCK|b$X | $20B | |||
| Fidelity National Information Services Inc
FIS
| LOCK|XwsY?%G | LOCK|Y%@C$ | $19B | |||
| CGI Inc Class A
GIB
| LOCK|d>?WPFh | LOCK|kH&& | $17B | |||
| Gartner Inc
IT
| LOCK|M#pM>!B | LOCK|&V | $14B |