Needham & Company Reinstates Coverage on SS&C Technologies (SSNC) at Buy; Powering The Global Financial Services Industry

Needham & Company reinstates coverage on SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) with a Buy. PT $26.00.

Analyst, Mayank Tandon, said, "We believe the company has built an enviable product portfolio with strong domain capabilities, and is benefiting from favorable industry dynamics that are creating incremental demand opportunities for SSNC’s products and services. Besides solid organic growth prospects, we like SSNC’s proven ability to acquire attractive assets that are both strategic to the business and accretive to earnings. We view SSNC as a solid investment idea for growth-oriented investors looking for a steady double-digit revenue, and an earnings grower operating in an industry with high barriers to entry."

Needham raises FY12 EPS estimate from $1.08 to $1.22 & revenues from $362.9 mln to $401.0 mln.

For an analyst ratings summary and ratings history on SS&C Technologies Holdings, Inc. click here. For more ratings news on SS&C Technologies Holdings, Inc. click here.

Shares of SS&C Technologies Holdings, Inc. closed at $20.66 yesterday.

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