Company Reports

SS&C Technologies reported second-quarter 2026 organic constant-currency revenue growth of 7.6%, up from 5.0% in the first quarter and above its midpoint guidance of 5.6%. SS&C made slight tweaks to its full-year outlook and continues to ramp up share repurchases.

Founded in 1986, SS&C Technologies provides software products and software-enabled services to mostly financial-services firms. SS&C introduced CAMRA—complete asset management, reporting, and accounting—in 1989. Since its inception, SS&C has acquired more than 50 companies; acquisitions have been a big part of its growth strategy.

SS&C Technologies reported first-quarter 2026 organic constant currency revenue growth of 5.0%, roughly steady from the 5.3% seen in the fourth quarter of 2025. SS&C slightly increased its full-year outlook. Shares were down 2% in after-hours trading.

After taking a fresh look at software companies across our coverage universe, we are downgrading our moat rating on SS&C Technologies to none from narrow.

Founded in 1986, SS&C Technologies provides software products and software-enabled services to mostly financial-services firms. SS&C introduced CAMRA—complete asset management, reporting, and accounting—in 1989. Since its inception, SS&C has acquired more than 50 companies; acquisitions have been a big part of its growth strategy.

Founded in 1986, SS&C Technologies provides software products and software-enabled services to mostly financial-services firms. SS&C introduced CAMRA—complete asset management, reporting, and accounting—in 1989. Since its inception, SS&C has acquired more than 50 companies; acquisitions have been a big part of its growth strategy.

SS&C Technologies reported a fourth quarter with steady organic revenue growth of 5.3% but limited margin expansion. The company gave its initial 2026 outlook, which includes organic revenue growth of 5.1% and 50 basis points of EBITDA margin expansion at the midpoint. Shares were mixed after hours.

After adjusting our model for SS&C Technologies, we are lowering our adjusted EBITDA margins as we consider trends in incremental margins and take a cautious view of the firm’s software businesses.

Founded in 1986, SS&C Technologies provides software products and software-enabled services to mostly financial-services firms. SS&C introduced CAMRA—complete asset management, reporting, and accounting—in 1989. Since its inception, SS&C has acquired more than 50 companies; acquisitions have been a big part of its growth strategy.

Founded in 1986, SS&C Technologies provides software products and software-enabled services to mostly financial-services firms. SS&C introduced CAMRA—complete asset management, reporting, and accounting—in 1989. Since its inception, SS&C has acquired more than 50 companies; acquisitions have been a big part of its growth strategy.

SS&C's third-quarter revenue grew 5.2% organically to $1.57 billion. With revenue and adjusted EPS topping the FactSet consensus and the firm’s outlook, we expect a positive market reaction. SS&C’s adjusted EPS outlook for 2025 rose 2% at the midpoint due to higher revenue and a lower tax rate.

Founded in 1986, SS&C Technologies provides software products and software-enabled services to mostly financial-services firms. SS&C introduced CAMRA—complete asset management, reporting, and accounting—in 1989. Since its inception, SS&C has acquired more than 50 companies; acquisitions have been a big part of its growth strategy.

SS&C Technologies reported 3.5% organic revenue growth in the second quarter, down from 5.1% in the first quarter, but better than its 2.5% midpoint guidance. For 2025, the firm expects 4.5% organic revenue growth (versus 4.4% previously) and adjusted EPS of $5.82-$6.06. (previously $5.68-$6.00).

SS&C Technologies announced on July 21 that it intends to acquire Calastone for $1.03 billion. The deal is expected to close in the fourth quarter of 2025 and will be funded with cash on hand and debt.

SS&C's revenue grew 5.1% organically to $1.51 billion, and adjusted EPS expanded 8.3% to $1.44 in the first quarter of 2025. Management nudged full-year organic revenue guidance to 4.4% from 5.0% at the midpoint, although it increased the profit outlook slightly, given the strong first quarter.

Founded in 1986, SS&C Technologies provides software products and software-enabled services to mostly financial-services firms. SS&C introduced CAMRA—complete asset management, reporting, and accounting—in 1989. Since inception, SS&C has acquired more than 50 companies; acquisitions have been a big part of its growth strategy.

Narrow moat-rated SS&C finished 2024 on a high note with organic revenue acceleration. Organic revenue grew 7.0%, up from 6.4% in the third quarter and well above the firm’s outlook at the midpoint of 2.4%. As is customary, SS&C provided its initial outlook for 2025. The firm’s full-year outlook was essentially in line with our and consensus expectations but the firm’s guidance has been conservative in recent quarters, so the market may view this as a positive. As we incorporate these results and modestly increase our revenue forecasts, we are increasing our fair value estimate to $95 from $88.

Founded in 1986, SS&C Technologies provides software products and software-enabled services to mostly financial-services firms. SS&C introduced CAMRA—complete asset management, reporting, and accounting—in 1989. Since inception, SS&C has acquired more than 50 companies; acquisitions have been a big part of its growth strategy.

We are maintaining our narrow moat rating and $88 fair value estimate for SS&C Technologies and continue to view the shares as modestly undervalued. As we calibrate our uncertainty ratings across our coverage universe, we are upgrading our Morningstar Uncertainty Rating to Low from Medium for the company.

Founded in 1986, SS&C Technologies provides software products and software-enabled services to mostly financial-services firms. SS&C introduced CAMRA—complete asset management, reporting, and accounting—in 1989. Since inception, SS&C has acquired more than 50 companies; acquisitions have been a big part of its growth strategy.