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Parnassus Investments cut Broadridge shares despite the company's strong earnings and dividend boost.
Parnassus Investments sold shares of Broadridge Financial Solutions, reducing their holdings by 6.2%, while the company reported strong earnings of $1.56 per share, beating estimates.
Broadridge, which provides financial services technology and communication solutions, also announced a quarterly dividend of $0.88.
Analysts have given Broadridge a "Hold" recommendation with an average price target of $239.17.
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Parnassus Investments redujo las acciones de Broadridge a pesar de las fuertes ganancias de la compañía y el aumento de dividendos.