Broadridge Financial Solutions (BR) announced an acquisition worth more than $2.5 billion. Broadridge’s global ecosystem will be significantly expanded by the acquisition, increasing its profitability. On Monday, the BR stock’s shares gained 2.52% during the trading session, reaching a low of $151.14 while closing at $157.69. There were 0.77 million shares traded during the trading session. In the last trading session, BR stock closed at $157.31.
The financial services firm Broadridge Technology acquires Itiviti Holding AB, a communications technology provider that supplies services to the wealth management industry. You can take advantage of Itiviti’s retail consolidation tools to save money and simplify your infrastructure. The BR stock, for example, offers a system that updates itself for asset trading based on updates to the regional legislation.
In 50 countries, Itiviti serves more than 2,000 leading brokers, trading firms, and asset managers from 24 of the top 25 investment banks in the world. A sizeable portion of Itiviti’s business was profitable, generating 210 million euros in recurring revenue in 2020.
Earnings per share and revenue are expected to grow with the Broadridge Financial Solutions (BR) acquisition. As Broadridge gains access to new markets, it will also be able to scale up its business. However, Broadridge Financial Solutions continues to be a world leader in providing software and related services worldwide to financial institutions, asset managers, banks, brokers, corporate issuers, etc. In addition to its regular acquisitions, the BR stock also increases its share of the market.
BR Stock Recent Market Performance
Stock market trading can be complicated sometimes, even for seasoned traders and investors. Markets sometimes go in the opposite direction when traders receive the results they had expected. Traders sometimes get intimidated by this volatility, resulting in second-guessing their moves. The knowledge of price performance in the past as well as long- and short-term trends is vital. Over the past week, Broadridge Financial Solutions’ (BR) price has surged by 6.59%. BR stock has gained 4.87% during the past three months, as evidenced by its price-performance. Comparatively, it has gained 20.64% over the past six months and 71.79% since the beginning of the year.