UPDATE: Jefferies Downgrades SS&C Technologies to Hold
Jefferies reduced its rating on SS&C Technologies (NASDAQ: SSNC) from Buy to Hold and reiterated its price target of $25.
Jefferies said, "We downgrade SSNC to HOLD and maintain our $25PT. We believe that the stock is discounting the outlined synergies from the GlobeOp/ Portia transactions as well as a re-acceleration in organic growth as the company refocuses on sales execution. We like SSNC's position in the financial technology landscape, but view the shares as fairly valued."
SS&C Technologies closed at $25.29 on Thursday.
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