SS&C price target lowered to $95 from $105 at Needham

Needham analyst Mayank Tandon lowered the firm’s price target on SS&C to $95 from $105 and keeps a Buy rating on the shares. The company posted top and bottom line numbers above expectations while generating record revenues and EBITDA, and the firm sees potential for the shares to re-rate as organic growth remains healthy, margins steadily expand, and SS&CC continues making accretive acquisitions, the analyst tells investors in a research note.