Needham & Company Reiterates Buy on SS&C Technologies (SSNC) Following Solid 4Q

Needham & Company reiterated a Buy rating and $39.00 price target on SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) following the company's 4Q earnings report. Revenue rose 24.2% Y/Y to $404.6 million, above the consensus of $398.5 million. SSNC posted $0.46 in EPS, $0.02 ahead of consensus.

Analyst Mayank Tandon commented, "SSNC's 4Q results were solid as the company delivered upside results on revenue, margins, and earnings. Organic growth accelerated from 3Q, marking two consecutive quarters of improvement. Margin expansion for the Citi business remains healthy, with EBITDA margins expected to end FY2017 at approximately 40%. Management introduced 1Q and FY17 guidance that is broadly in line with expectations and calls for almost 10% revenue growth and 17% EPS growth at the midpoint. We see earnings upside potential driven by deal synergies, a large base of recurring revenue, and a compelling valuation as reasons to BUY the stock. Our price target remains $39."

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 $32.81 yesterday.

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