SS&C price target lowered to $90 from $95 at Needham

Needham lowered the firm’s price target on SS&C to $90 from $95 and keeps a Buy rating on the shares. The company posted top and bottom line numbers above expectations while also generating record Q1 revenues and EBITDA, the analyst tells investors in a research note. The management highlighted strong momentum across Calastone, continued strength globally, especially in Australia, and growing AI agent traction ahead of the Blue Prism WorkHQ launch, the firm added, noting, however, that its reduced price target reflects software multiple compression.