Sell: SS&C Technologies Holdings, Inc. (SSNC)
From Dow Theory Forecasts
Updated from Wall Street’s Best Investments 817, May 15, 2019
Shares of SS&C Technologies Holdings, Inc. (SSNC) slumped after the company reported inline results for the June quarter but issued disappointing guidance. Confronting slower growth for its core business and unexpected headwinds for recent acquisitions, SS&C guided September-quarter sales below the consensus. Management also cut its full-year sales forecast for the
second time this year.
Our patience for SS&C has run out after the financial-software company posted its second subpar report in as many quarters. Investors may want to see if the stock bounces off its lowest level since January, but SS&C no longer represents a top Buy. SS&C is being dropped from the Buy and Long-Term Buy lists.
Richard Moroney, CFA, Dow Theory Forecasts, www.dowtheory.com, 800-233-5922, August 5, 2019