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  "documentTitle": "Broadridge Financial Solutions, Inc. (BR)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2022-09-28 00:00:00",
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  "notes": "Includes a quote from a 2021 conference call to contrast with 2022 performance.",
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      "text": "Absent the contribution of Itiviti, BR’s recurring revenue capital markets business just barely hit the low end of its 5% to 7% organic revenue guidance range in 2022. Also BR did not explain an unusual increase in revenue from Itiviti in Q3.",
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      "text": "organic revenue growth: 5.1%",
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      "text": "I think we expect to get back on our organic core business back into the 5% to 7% growth range across both of those businesses really driven by net new sales, as Tim talked about earlier in both our capital markets business and wealth management business.",
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      "text": "\"I think we expect to get back in our organic core business back into the 5% to 7% growth range across both of those businesses really driven by net new sales, as Tim talked about earlier in both our capital markets business and wealth management business.\" — CFO Reese, Q4 2021 Conf Call, April 12, 2021",
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      "text": "Source: Capital markets figures taken from Supplemental Reporting Detail Slide 22 of Year End Presentation. Note: FX effect on revenue cannot be allocated to Capital Markets 1) Itiviti Acquired May 12, 2021 (Q4 2021)",
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      "text": "Capital Markets Segment – Organic Recurring Revenue Analysis",
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