JPMorgan analyst Alexei Gogolev has revised his stance on SS&C Technologies Holdings (SSNC, Financial), moving the stock from an "Overweight" to a "Neutral" rating. This adjustment comes with a new price target of $86, reduced from the previous $90.
The change follows SS&C's first-quarter results, which have led to doubts about the company's ability to achieve organic growth through pricing and volume. Historically, SS&C has relied on strategic acquisitions to drive expansion. However, JPMorgan is now skeptical about the company's prospects of reaching its "high single-digit" organic growth target in the medium term. This shift in perspective, according to Gogolev, diminishes the appeal of investing in SS&C.
