Topic: Growth Stocks

The Stock Pickers Digest Hotline – Friday, August 15, 2008

Article Excerpt

BROADRIDGE FINANCIAL SOLUTIONS INC. $19.76, New York symbol BR, offers services to the investment industry in three main areas: investor communications; securities processing; and transaction clearing. Broadridge mails and processes 70% of all proxy votes. The company stands to gain from the increasing complexity of securities regulations and increasing levels of share ownership. Despite volatile investment industry conditions, Broadridge’s earnings in the fiscal year ended June 30, 2008 rose 2.4%, to $218.5 million from $213.3 million in the prior year. Earnings per share rose 1.3%, to $1.55 from $1.53, on more shares outstanding. These figures exclude unusual items. Revenue rose 3.3%, to $2.21 billion from $2.14 billion. Broadridge also raised its quarterly dividend 16.7%, from $0.06 a share to $0.07. The new annual rate of $0.28 yields 1.4%. As well, the company plans to buy back about 1.5% of its stock. Broadridge is a buy. AUTODESK INC. $38.37, symbol ADSK on Nasdaq, rose 11% on Friday after it reported earnings that exceeded consensus forecasts…