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

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

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

DateFirmActionFromTo
Jul 2019MaintainsOutperform
Jul 2019MaintainsBuy
Jul 2019MaintainsStrong 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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