SS&C Technologies Holdings Inc

SSNC: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$72.00	Fpjjrw	Brwmtgzsxf

SS&C Earnings: Decent Revenue, but Margins Soft; 2023 Outlook Weighted to Back Half

Rajiv Bhatia

Apr 28, 2023

SS&C Technologies started 2023 on decent footing. First-quarter revenue of $1.36 billion, adjusted EBITDA of $509 million, and adjusted EPS of $1.11 compared with the FactSet consensus estimates of $1.35 billion, $518 million, and $1.14, respectively. Overall, there was little that would alter our long-term view of the firm, and we will maintain our $77 fair value estimate. We regard the shares as undervalued.

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