SSNC - SS&C Technologies: Healthy Q4 Results Suggest Good Upside In FY20
Solid revenue growth likely to continue with uncertainty from DST business
SS&C Technologies (SSNC) reported 4Q19 adjusted organic growth of 4.7%, above market expectations and management guidance. In my view, the momentum is likely to continue into FY20, given its market-leading position, strong sales force and increasing outsourcing demand for back- and middle-office functions from alternative investment, especially private equity.
The highly expected cross-selling opportunities from DST’s large customer base (61 million investor accounts) did not materialize in FY 19. The revenue from this acquired business was almost flat in FY19. I believe