Finerman recommends Broadridge (BR) as a pure play on the coming surge in proxy fights.

adp spinoff

Broadridge was downgraded from Overweight to Neutral, JP Morgan said. Company posted a strong quarter, but may lose ETFC as a customer and event-driven fees may decline in the coming quarters.

BUY

From Barron's 8-6-07:

"Broadridge Financial Solutions (ticker: BR) is a $2.3 billion market-cap recent spinoff from ADP (ADP) that is a leader in securities processing and investor-communications services such as proxy mailings. It's a scale-intensive business with tons of recurring revenue and good margins.

The stock has fallen to 17 from north of 21 in May, dragged down as a quasi-financial name and by a large customer defection. It is under-followed and modestly valued at 14 times June 2008 fiscal-year earnings. Other transaction processors routinely trade above 20 times earnings. Even at a discount to that, 20% upside is not much of a stretch."

Company stock spin off

boring, unloved, debt laden spinoff--probably worth in the mid 20s. A few earnings calls will hopefully bring people to this party.

A Director of the company has recently purchased 10,000 shares or $203,994 worth of stock.

Spin-off

Spinoff from ADP.

financials are still not a good place to be