Believes That Broadridge’s Claims of Being a Fintech Leader with SaaS Qualities and a $60 Billion TAM Are Exaggerated. In Reality, We Believe It Is Primarily a Low Margin Business Process Outsourcer Exhibiting Rising Financial Strains and Long-Term Disintermediation Risks
Raises Concerns That by Aggressively Capitalizing Hundreds of Millions in Project Development Costs Related to Building UBS’s Behind Schedule Wealth Management Platform, Broadridge is Circumventing a Debt Covenant Violation
Believes That Its Recent $2.5 Billion Levered Acquisition of Itiviti Will Fail to Meet Expectations, and Has Left Broadridge More Vulnerable Than Ever to an Economic Recession
Provides Evidence That Suggests a High Likelihood Broadridge Has Come Under Recent Regulatory Scrutiny From the SEC
Sees 65% To 75% Downside Risk to Broadridge's Share Price and Urges Investors to Visit www.SprucePointCap.com and Follow @SprucePointCap on Twitter for the Latest on $BR
2026-01-30 USD 197.11