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Broadridge (BR) Completes Acquisition of RPM Technologies
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Broadridge Financial Solutions, Inc. (BR - Free Report) has completed the acquisition of RPM Technologies. The deal was announced on May 21, 2019.
RPM Technologies is one of the leading providers of enterprise wealth management software solutions and services in Canada. At present, RPM's technology platforms support more than 15 million customer accounts.
Adds Technology, Capabilities
The acquisition will lead to the addition of RPM Technologies (state-of-the-art platforms and blue-chip client roster) to Broadridge's Canadian wealth management business. Together, they are expected to better serve their respective clients with next-generation technology and new capabilities.
The buyout is expected to expand Broadridge Canada's addressable market by adding enhanced mutual fund and deposit manufacturing capabilities and providing a solution set for the retail banking sector.
We believe the move will help Broadridge strengthen its Global Technology and Operations segment, which serves capital markets, wealth management, and asset management firms. Revenues from the segment grew $1 million year over year in third-quarter fiscal 2019 on the back of higher net new business from closed sales.
We observe that shares of Broadridge have gained 37.3% so far this year compared with 29.3% rise of the industry it belongs to and 13.4% rise of the Zacks S&P 500 composite.
Stocks to Consider
A few better-ranked stocks in the broader Zacks Business Services sector are Navigant Consulting , FLEETCOR Technologies and NV5 Global (NVEE - Free Report) . While Navigant Consulting sports a Zacks Rank #1, FLEETCOR and NV5 Global carry a Zacks Rank #2 (Buy).
Long-term expected EPS (three to five years) growth rate for Navigant Consulting, FLEETCOR and NV5 Global is 13.5%, 15.4% and 20%, respectively.
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One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”
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Broadridge (BR) Completes Acquisition of RPM Technologies
Broadridge Financial Solutions, Inc. (BR - Free Report) has completed the acquisition of RPM Technologies. The deal was announced on May 21, 2019.
RPM Technologies is one of the leading providers of enterprise wealth management software solutions and services in Canada. At present, RPM's technology platforms support more than 15 million customer accounts.
Adds Technology, Capabilities
The acquisition will lead to the addition of RPM Technologies (state-of-the-art platforms and blue-chip client roster) to Broadridge's Canadian wealth management business. Together, they are expected to better serve their respective clients with next-generation technology and new capabilities.
The buyout is expected to expand Broadridge Canada's addressable market by adding enhanced mutual fund and deposit manufacturing capabilities and providing a solution set for the retail banking sector.
We believe the move will help Broadridge strengthen its Global Technology and Operations segment, which serves capital markets, wealth management, and asset management firms. Revenues from the segment grew $1 million year over year in third-quarter fiscal 2019 on the back of higher net new business from closed sales.
Zacks Rank & Price Performance
Broadridge currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We observe that shares of Broadridge have gained 37.3% so far this year compared with 29.3% rise of the industry it belongs to and 13.4% rise of the Zacks S&P 500 composite.
Stocks to Consider
A few better-ranked stocks in the broader Zacks Business Services sector are Navigant Consulting , FLEETCOR Technologies and NV5 Global (NVEE - Free Report) . While Navigant Consulting sports a Zacks Rank #1, FLEETCOR and NV5 Global carry a Zacks Rank #2 (Buy).
Long-term expected EPS (three to five years) growth rate for Navigant Consulting, FLEETCOR and NV5 Global is 13.5%, 15.4% and 20%, respectively.
Will you retire a millionaire?
One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”
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