SS&C Technologies (SSNC) PT Raised to $76 at Needham & Company

Needham & Company analyst Mayank Tandon reiterated a Buy rating and raised his price target on SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) to $76.00 (from $68.00) following strong Q2 results.

commented, "SSNC delivered a strong 2Q, outperforming on revenue, margins, and earnings. Management called out several large deal wins, several of them from competitors, confirming our thesis that SSNC is a share gainer in the global fund administration space. Management also updated full year guidance for the Advent acquisition, which closed earlier this quarter. We believe the guidance and commentary is generally consistent with investor expectations. We believe there is potential for upside to estimates if management is able to overachieve on its target of $45 million in acquisition-related synergies over 3 years. Based on SSNC’s increasing scale, improving competitive position, and potential for estimate increases, we are reiterating our BUY rating and raising our target to $76."

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 $66.22 yesterday.

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