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SS&C Technologies Holdings Inc SSNC

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Morningstar’s Analysis

Valuation
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Broad-Based Growth at SS&C Technologies, Outlook Tweaked Higher

Rajiv Bhatia, CFA Equity Analyst

Analyst Note

| Rajiv Bhatia, CFA |

SS&C Technologies reported a very healthy second quarter with results that topped expectations. Adjusted revenue for the quarter of $1.26 billion beat the FactSet consensus of $1.22 billion by 3%. Adjusted EBITDA was $511 million (consensus: $490 million), and adjusted EPS was $1.24 (consensus: $1.14). Adjusted organic revenue growth was 7.2%, an improvement from the 2.9% growth in the first quarter and the 0.5% decline during full-year 2020. We will maintain our narrow moat rating and are increasing our fair value estimate to $75 from $71 as we tweak our organic revenue growth assumptions higher.

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Company Profile

Business Description

SS&C Technologies provides software products and software-enabled services to a variety of customers primarily in financial services but also healthcare firms. SS&C GlobeOp provides fund administration services to alternative and traditional asset managers. In addition, SS&C provides portfolio accounting, portfolio management, trading, banking/lending, and other software to asset managers, banks, and financial advisors. SS&C’s purchase of Intralinks makes it a leading player in Virtual Data Room solutions. With its purchase of DST Systems, SS&C gained a foothold in the healthcare industry with pharmacy health management solutions and medical claim administration services.

Contact
80 Lamberton Road
Windsor, CT, 06095
T +1 860 298-4500
Sector Technology
Industry Software - Application
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Aggressive Growth
Employees 24,600

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