# SS&C Technologies Holdings, Inc. (SSNC)

> Source: Nexqual · https://nexqual.com/SSNC · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, SS&C Technologies Holdings, Inc. (SSNC), nexqual.com/SSNC" · informational, not investment advice.

**Price:** USD 89.54 (+2.81% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 87.09 · day 87.33–89.81 · 52w 61.4–89.93 · market cap $21.0B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $6.56B, net income $864M (13.2% margin), free cash flow $1.75B (SEC filings).
- Valuation: P/E 24.3x (avg 26.2x at the last 3 fiscal year-ends), EV/EBITDA 14.4x, net debt $7.14B.
- 2 of 80 tracked superinvestors hold SSNC (13F, Q2 2026): 0 new, 1 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $584K; 2 not under a Rule 10b5-1 plan ($584K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.10 on a 1–5 scale) (10 analysts), mean target USD 96.11 (range 82–110).
- Total return with dividends: 1Y +12.3% vs S&P 500 +14.9%; 5Y +28.7% vs S&P 500 +80.3%.
- Next earnings: 2026-10-22, EPS estimate USD 1.91, revenue estimate $1.74B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.05B | $5.28B | $5.50B | $5.88B | $6.27B | $6.56B |
| Gross profit | $2.41B | $2.52B | $2.65B | $2.86B | $3.02B | — |
| Operating income | $1.24B | $1.14B | $1.21B | $1.34B | $1.44B | $1.55B |
| Net income | $800M | $650M | $607M | $761M | $797M | $864M |
| EPS (diluted) | $2.99 | $2.48 | $2.39 | $3.00 | $3.15 | — |
| Free cash flow | $1.38B | $1.07B | $1.16B | $1.33B | $1.66B | $1.75B |
| Gross margin | 47.7% | 47.6% | 48.2% | 48.7% | 48.2% | — |
| Operating margin | 24.6% | 21.6% | 22.0% | 22.8% | 22.9% | 23.6% |
| Net margin | 15.8% | 12.3% | 11.0% | 12.9% | 12.7% | 13.2% |
| Revenue growth | +8.2% | +4.6% | +4.2% | +6.9% | +6.6% | — |
| Cash + short-term investments | $564M | $440M | $432M | $567M | $462M | — |
| Total debt | $5.95B | $7.08B | $6.72B | $7.01B | $7.43B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 24.3x · P/S 3.2x · EV/EBITDA 14.4x · EV/Sales 4.3x · P/FCF 12.0x · P/B 3.2x · FCF yield 8.34% · Earnings yield 4.11% · Dividend yield (paid, TTM) 1.24% · Buyback yield (TTM) 5.54% · Net debt $7.14B · EV $28.2B
P/E at fiscal year-ends: Dec 2025 27.8x, Dec 2024 25.3x, Dec 2023 25.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold SSNC. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 2.01% | $685M | Added +13.8% |
| William Von Mueffling | Cantillon Capital Management | 1.61% | $10.7M | Reduced -95.4% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-20…2026-05-22 | Zamkow Michael Jay | Director | 6,000 | $400K | 17.4% | No | Too little history (no open-market trades in 2023) |
| 2026-05-20 | Michael Jonathan E | Director | 2,740 | $183K | 1.8% | No | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.10 on a 1–5 scale), 10 analysts; mean target USD 96.11 (low 82, high 110).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | DA Davidson | Target raised | Buy | $96 → $104 |
| 2026-08-31 | RBC Capital | Target raised | Outperform | $92 → $101 |
| 2026-07-27 | DA Davidson | Maintained | Buy | $96 |
| 2026-07-24 | RBC Capital | Target raised | Outperform | $89 → $92 |
| 2026-07-24 | Needham | Reiterated | Buy | $90 |
| 2026-07-20 | Jefferies | Target lowered | Buy | $92 → $83 |
| 2026-07-20 | JP Morgan | Target lowered | Neutral | $94 → $87 |
| 2026-07-15 | DA Davidson | Maintained | Buy | $96 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +12.3% | +28.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +12.3% | +5.2% |
| Volatility (annualized) | 28.6% | 24.6% |
| Max drawdown | -30.2% (Dec 2025→Jun 2026) | -43.1% (Jan 2022→Oct 2022) |

## Peers (Software - Application)
PTC (PTC Inc.) USD 194 -0.20% · DT (Dynatrace, Inc.) USD 63.37 -2.18% · FICO (Fair Isaac Corporation) USD 823.27 +3.53% · U (Unity Software Inc.) USD 40.27 -2.28% · TYL (Tyler Technologies, Inc.) USD 392.45 +4.44% · DOCU (DocuSign, Inc.) USD 84.41 +3.60%

## More
Full page: https://nexqual.com/SSNC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in SSNC's own 10-K filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/1402436/000119312526076745/ssnc-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | DomaniRx | "We will perform development work, day-to-day management, services related to the fulfillment of the assigned services agreement and certain shared services under subcontract with DomaniRx in exchange for market-based fee…" |
| Partner | IFDS | "For instance, under the partnership agreement of IFDS L.P., in the event of a change of control of the Company, the other partner would have the option to purchase our interests in IFDS L.P. at a price equal to book valu…" |
| Partner | STATE STREET CORP (STT) | "International Financial Data Services L.P. ("IFDS L.P.") is a 50% owned joint venture with State Street Corporation with operations in Canada." |
| Competitor | Microsoft (MSFT) | "SS&C competes with a range of technology providers including companies such as Microsoft, Pega, UiPath, Appian, and emerging agentic AI providers such as n8n and Lyzr." |

Other companies that name SSNC in their own reports (relationship from SSNC's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Chicago Atlantic BDC, Inc. (LIEN) | 10-K 2026-03-19 | "In accordance with the Administration Agreement, and with the approval of the Board, the Company and the Adviser have entered into a services agreement with SS&C Technologies Inc. ("SS&C"), as sub-adm…" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Software Enabled Services | $1.41B | 83.0% | +11.1% |
| License & Maintenance | $287.5M | 17.0% | +6.8% |
| — Maintenance & Term Licenses (part of License & Maintenance) | $256.2M | 15.1% | +10.0% |
| — Professional Services (part of License & Maintenance) | $26.9M | 1.6% | +2.7% |
| — Perpetual Licenses (part of License & Maintenance) | $4.4M | 0.3% | -56.0% |
| Total revenue | $1.70B | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Americas Excluding United States & Canada | $1.22B | 71.9% | +8.2% |
| United States | $1.11B | 65.2% | +6.9% |
| EMEA Excluding United Kingdom | $367.4M | 21.7% | +12.6% |
| Asia Pacific & Japan | $109.1M | 6.4% | +30.8% |
| Total revenue | $1.70B | 100% | — |
The lines above cover 165.2% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $1.91 | $1.90 | +0.6% | $1.74B | 6 |
| Next quarter (ends 2027-03-31) | $1.86 | $1.86 | -0.2% | $1.74B | 8 |
| Current fiscal year (ends 2026-12-31) | $7.07 | $7.06 | +0.1% | $6.76B | 10 |
| Next fiscal year (ends 2027-12-31) | $7.69 | $7.73 | -0.5% | $7.09B | 10 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 34.2% | ±8.9% |
| 2026-12-18 | 56 | 32.1% | ±11.2% |
| 2027-01-15 | 84 | 29.1% | ±12.1% |
| 2027-04-16 | 175 | 29.0% | ±16.8% |