William Blair analyst Jeff Schmitt has maintained their bullish stance on SSNC stock, giving a Buy rating on May 27.
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Jeff Schmitt has given his Buy rating due to a combination of factors that highlight SS&C Technologies Holdings’ potential for growth and stability. One of the key reasons is the company’s maintained organic growth guidance of 2.5% for the second quarter, despite the prevailing economic uncertainties. This suggests a strong pipeline and client activity, which could lead to potential upside in the company’s performance.
Another factor influencing the Buy rating is SS&C’s international expansion efforts, particularly its partnership with Insignia in Australia. This venture is expected to generate significant revenue and be accretive to earnings, enhancing the company’s growth outlook. Additionally, the reorganization and strategic improvements in the Wealth & Investment Technology (WIT) business have resulted in better organic growth, with the Black Diamond software solution being a significant growth driver. These strategic initiatives collectively support a positive outlook for SS&C Technologies Holdings.
In another report released on May 27, D.A. Davidson also maintained a Buy rating on the stock with a $94.20 price target.
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