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Broadridge Financial Solutions , Inc. (NYSE: NYSE:BR) stock soared to an all-time high of $238.22, marking a significant milestone for the company known for its investor communications and technology-driven solutions. The stock's impressive performance includes a 16% total return over the past year, with notably low price volatility. According to InvestingPro data, the company maintains a strong dividend track record, having raised its dividend for 18 consecutive years, with a current yield of 1.48%. The achievement of this all-time high serves as a testament to Broadridge's strategic initiatives and its ability to adapt to the evolving financial landscape, further cementing its position as a leader in the provision of critical infrastructure to the global financial services industry. With a market capitalization of $27.8 billion and an impressive Financial Health Score rated as "GREAT" by InvestingPro, which offers 12 additional valuable insights about BR's investment potential in their comprehensive Pro Research Report.
In other recent news, Broadridge Financial Solutions reported a strong fiscal first quarter 2025, noting a 4% rise in recurring revenue and a record $57 million in closed sales, a 21% increase year-over-year. The company also revealed an adjusted earnings per share (EPS) of $1 and upgraded its recurring revenue guidance for fiscal 2025 to 6%-8%, up from the previously forecasted 5%-7%. Additionally, Broadridge announced that Ashima Ghei has been appointed as the new CFO.
In regards to analyst ratings, Raymond (NSE:RYMD) James increased Broadridge's target price to $238 while maintaining an Outperform rating. Wolfe Research initiated coverage with a Peerperform rating, emphasizing the company's solid recurring revenue. UBS also initiated coverage, taking a Neutral stance with a price target set at $250.
At Broadridge's 2024 Annual Meeting, shareholders approved all management's proposals, including the election of 10 directors and the ratification of Deloitte & Touche LLP as the company's independent auditors. Lastly, Broadridge continues to explore merger and acquisition opportunities while maintaining a focus on organic growth, with a robust sales pipeline and a backlog of $450 million. These are the recent developments in the company's activities.
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