SS&C Technologies: 2Q Reveals Encouraging Organic Topline Growth Acceleration; 2H26E Guidance Appears De-Risked Even After the Raise

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SS&C Technologies: 2Q Reveals Encouraging Organic Topline Growth Acceleration; 2H26E Guidance Appears De-Risked Even After the Raise

J P M O R G A N North America Equity Research

23 July 2026

SS&C Technologies

2Q Reveals Encouraging Organic Topline Growth Neutral

Acceleration; 2H26E Guidance Appears De-Risked SSNC, SSNC US

Even After the Raise Price (23 Jul 26):$66.95

Price Target (Dec-27):$87.00

SSNC grew reported revenue above 10% yoy in 2Q26 (first time in 5 years), with Vertical SaaS & HealthTech

ACnotable re-acceleration in organic topline expansion to 7.6%, which prompted an Alexei Gogolev

increase in FY26 guidance. Management emphasized consistent execution (strong (1-212) 622-9391

sales, multi-year renewals, healthy retention, and steady margin expansion) and alexei.gogolev@jpmorgan.com

pointed to market/transaction tailwinds as well as several large license renewals Isabella A Camaj

contributing to the 2% topline beat. Capital allocation remained a focal point with (1-212) 834-2379

~$0.5B (~3% of MCap) reutrend to shareholders in the recent quarter (including bella.camaj@jpmorgan.com

a record ~$0.43B in buybacks and $64M of dividends). SSNC also highlighted Software Mid & Small Cap

ongoing AI/automation investments (WorkHQ/agentic AI governance-first Ella Smith

approach) as both a growth and margin lever. While there are a lot of moving parts (1-212) 622-2451

in SSNC’s operations and WIT performance remains lumpy due to the high license ella.smith@jpmchase.com

component, we still view 2H26E implied revenue growth guidance as de-risked Destiny Jackson

(even after management’s raised outlook). (1-212) 622-4360

destiny.jackson@jpmorgan.com

• 2Q26 headline numbers beat. SSNC reported 2Q26 revenue/non-GAAP EPS J.P. Morgan Securities LLC