SS&C Technologies Holdings, Inc. (SSNC) PT Raised to $80 at Needham & Company

February 11, 2021 6:34 AM EST
Get Alerts SSNC Hot Sheet
Price: $72.91 -1.07%

Rating Summary:
    14 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Needham & Company analyst Mayank Tandon raised the price target on SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) to $80.00 (from $70.00) while maintaining a Buy rating.

The analyst commented, "SSNC posted solid 4Q results, beating consensus estimates on the top and bottom line due to solid performance within the alternatives, Eze, and Intralinks businesses and modest improvement within DST. Management also provided FY21 guidance which calls for an improvement in customer buying activity as the year progresses while maintaining healthy (95-96%) net revenue retention in the existing client base. With the shares trading at a FY22 P/E multiple of ~14x, we believe the risk-reward is favorable given SSNC's MT prospects to drive 15-20% annualized EPS growth by combining steady organic growth with debt reduction, share repurchases, and accretive M&A. We are reiterating our BUY rating and raising our target to $80."

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