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Broadridge (BR) Announces Collaboration With Software Vender SLIB

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Broadridge Financial Solutions, Inc. (BR - Free Report) announced yesterday that it has entered into collaboration with leading software vendor SLIB. The goal is to offer a joint, cross-border proxy voting solution for compliance of Shareholder Rights Directive II (SRD II).

The offering will be a fully automated end-to-end solution using Broadridge's Global Proxy solution which includes an STP connection to SLIB's Votaccess–an electronic voting platform in France managing more than 80% of CAC 40 companies’ General Meetings.

It will enable French retail intermediaries to offer proxy voting services to shareholders. They can be notified of shareholder meetings for European companies and can smoothly exercise their voting rights. The solution will be available before the 2021 proxy season, the first proxy season under SRD II.

Demi Derem, general manager of Broadridge's International Investor Communication Solutions stated, "We are delighted to partner with SLIB to help French intermediaries meet their regulatory obligations at such a vital time."

Notably, the company’s shares have charted a solid trajectory in recent times, appreciating 21.9% over the past year, ahead of 3.4% growth of the industry it belongs to and 16.3% surge of the Zacks S&P 500 composite.

Zacks Rank and Key Picks

Broadridge currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Business Services sector are ManpowerGroup (MAN - Free Report) ,Cross Country Healthcare (CCRN - Free Report) and BG Staffing (BGSF - Free Report) . While BG Staffing sports a Zacks Rank #1 (Strong Buy), ManpowerGroup and Cross Country Healthcare carry a Zacks #2 Rank (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The long-term expected earnings per share (three to five years) growth rate for ManpowerGroup, Cross Country Healthcare and BG Staffing is 3.5%, 12% and 20%, respectively.

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