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Raymond James Lowers SS&C Technologies Estimates, But Remains Bullish On Stock

Raymond James Lowers SS&C Technologies Estimates, But Remains Bullish On Stock
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SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) could generate healthy EBITDA and EPS growth in the coming years, driven by integration and cross-selling efforts, according to Raymond James.

The Analyst

Raymond James’ Patrick O'Shaughnessy maintains a Strong Buy rating on SS&C Technologies and reduced the price target from $68 to $67.

The Thesis

Although there have been growing concerns around hedge fund closures and redemptions, SS&C's latest redemption request data “continues to show no evidence of this bear case playing out yet,” O'Shaughnessy said in a Monday note. 

Although SS&C Technologies’ exposure to the equity markets is limited, it is not zero, the analyst said.

Considering the market sell-off during the fourth quarter, “we're lowering our 2019 organic, FX-neutral revenue growth estimate from 4 percent to 3 percent,” O'Shaughnessy said. 

Raymond James reduced its non-GAAP EPS estimates for 2018, 2019 and 2020 from $2.81 to $2.80; $3.61 to $3.53; and $3.97 to $3.95, respectively.

Price Action

SS&C Technologies shares were down 0.91 percent at $44.70 at the time of publication Wednesday. 

Related Links:

Is SS&C Technologies A Buy At Its Current P/E Multiple?

SS&C Technologies 2018 Analyst Day

Latest Ratings for SSNC

Jan 2019BuckinghamInitiates Coverage OnBuy
Jan 2019UBSMaintainsBuyBuy
Jan 2019Raymond JamesMaintainsStrong BuyStrong Buy

View More Analyst Ratings for SSNC
View the Latest Analyst Ratings

Posted-In: Patrick O'Shaughnessy Raymond JamesAnalyst Color Price Target Reiteration Analyst Ratings Best of Benzinga


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