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Broadridge to Gain From Partnership With Tableau: Here's Why
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Shares of Broadridge Financial Solutions, Inc. (BR - Free Report) have gained 15.6% so far this year, outperforming 8.6% increase recorded by the industry it belongs to and 2.2% growth recorded by the Zacks S&P 500 Composite Index.
The company recently entered a partnership with Tableau Software, aimed at offering enhanced analytics and visualization capabilities to its investment management clients.
Tableau Software is a software company based in the United States, which produces interactive data visualization products focused on business intelligence.
The Partnership
The collaboration will see integration of Broadridge Investment Management Data Warehouse with Tableau's visual analytics platform.
Broadridge's clients will gain access to machine-learning-based smart data recommendations and natural language processing. Clients will also be able to explore trading and portfolio data, showcase their findings through visual analytics, and authorize more people with data-driven results.
Eric Bernstein, the head of Broadridge's asset management solutions stated, "Tableau's visual analytics platform, combined with our best-in-suite software, will provide insights and analytics into trading, portfolio and operations data at the speed of thought."
Our Take
The partnership is likely to help Broadridge strengthen its Asset Management Solutions business, which provides buy-side technology solutions for the global investment management industry, and is part of the Global Technology and Operations segment.
This implies that Broadridge’s Global Technology and Operations segment is likely to benefit from the deal. Performance of the segment was strong in the last reported quarter, with revenues improving 6% year over year. The segment contributed around 23.4% to Broadridge’s total revenues in first-quarter fiscal 2019.
A few better-ranked stocks in the broader Business Services sector include The Interpublic Group of Companies, Inc. (IPG - Free Report) , Paychex, Inc (PAYX - Free Report) and WEX Inc (WEX - Free Report) , each carrying a Zacks Rank #2 (Buy). The long-term expected EPS (three to five years) growth rates for Interpublic, Paychex and WEX are 7.4%, 8.5% and 15%, respectively.
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Broadridge to Gain From Partnership With Tableau: Here's Why
Shares of Broadridge Financial Solutions, Inc. (BR - Free Report) have gained 15.6% so far this year, outperforming 8.6% increase recorded by the industry it belongs to and 2.2% growth recorded by the Zacks S&P 500 Composite Index.
The company recently entered a partnership with Tableau Software, aimed at offering enhanced analytics and visualization capabilities to its investment management clients.
Tableau Software is a software company based in the United States, which produces interactive data visualization products focused on business intelligence.
The Partnership
The collaboration will see integration of Broadridge Investment Management Data Warehouse with Tableau's visual analytics platform.
Broadridge's clients will gain access to machine-learning-based smart data recommendations and natural language processing. Clients will also be able to explore trading and portfolio data, showcase their findings through visual analytics, and authorize more people with data-driven results.
Eric Bernstein, the head of Broadridge's asset management solutions stated, "Tableau's visual analytics platform, combined with our best-in-suite software, will provide insights and analytics into trading, portfolio and operations data at the speed of thought."
Our Take
The partnership is likely to help Broadridge strengthen its Asset Management Solutions business, which provides buy-side technology solutions for the global investment management industry, and is part of the Global Technology and Operations segment.
This implies that Broadridge’s Global Technology and Operations segment is likely to benefit from the deal. Performance of the segment was strong in the last reported quarter, with revenues improving 6% year over year. The segment contributed around 23.4% to Broadridge’s total revenues in first-quarter fiscal 2019.
Zacks Rank & Stocks to Consider
Currently, Broadridge carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few better-ranked stocks in the broader Business Services sector include The Interpublic Group of Companies, Inc. (IPG - Free Report) , Paychex, Inc (PAYX - Free Report) and WEX Inc (WEX - Free Report) , each carrying a Zacks Rank #2 (Buy). The long-term expected EPS (three to five years) growth rates for Interpublic, Paychex and WEX are 7.4%, 8.5% and 15%, respectively.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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