Will Broadridge Financial Solutions (BR) Benefit from the Modernization of Capital Markets?

Wedgewood Partners, an investment management company, released its “Focused SMID Cap Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 14.8% compared to a 7.4% return for the Russell 2500 Index. For the year 2022, the fund returned -19.0% compared to a -18.4% return for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Wedgewood Partners highlighted stocks like Broadridge Financial Solutions, Inc. (NYSE:BR) in the fourth quarter 2022 investor letter. Headquartered in Lake Success, New York, Broadridge Financial Solutions, Inc. (NYSE:BR) is an investor communications and technology-driven solutions provider for the financial services industry. On March 6, 2023, Broadridge Financial Solutions, Inc. (NYSE:BR) stock closed at $143.11 per share. One-month return of Broadridge Financial Solutions, Inc. (NYSE:BR) was -5.00%, and its shares lost 1.36% of their value over the last 52 weeks. Broadridge Financial Solutions, Inc. (NYSE:BR) has a market capitalization of $16.843 billion.

Wedgewood Partners made the following comment about Broadridge Financial Solutions, Inc. (NYSE:BR) in its Q4 2022 investor letter:

Broadridge Financial Solutions, Inc. (NYSE:BR) detracted from performance despite growing its core recurring revenue at a +9% organic rate. While declines in the equity markets are not new news, Broadridge reported that its capital markets customers continued to show a growing number of total investor positions. Broadridge’s customers include large online brokerage providers that have expanded into the mass market. As more investors carry more positions and instruments, Broadridge’s services are necessary to connect these investors with corporate governance communications from issuers and other service providers. All told, the expansion and technological modernization of capital markets are healthy long-term trends that Broadridge should continue to benefit.”

Creative Collage Of Business Team Working On Project And Stock Markets Data On Trasparent Screen, Financial Statistics Layered Over Man Using Laptop For Trading On Forex, Panorama

Broadridge Financial Solutions, Inc. (NYSE:BR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Broadridge Financial Solutions, Inc. (NYSE:BR) at the end of the fourth quarter which was 28 in the previous quarter.

We discussed Broadridge Financial Solutions, Inc. (NYSE:BR) in another article and shared the top stock picks in The Motley Fool’s 1623 Capital latest portfolio. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.