SS&C Technologies Holdings: Will The Strong Organic Growth Trend Last?

In the Q1 2024 earnings, SS&C Technologies announced a record adjusted revenue of $1,435.8 million, marking a 5.3% increase, and adjusted diluted earnings per share were at $1.28, a 12.3% increase. The business also reported a record Q1 high for adjusted consolidated EBITDA at $556.8 million, with the EBITDA margin at 38.8%. SS&C Technologies indicated a strong first quarter with notable strength in alternatives, retirement, Intralinks, and Op adviser businesses. The recurring revenue growth rate for Financial Services was 6.5%, which encompasses all software-enabled services and maintenance revenue. SS&C paid down $79.9 million in debt in Q1 2024, bringing the company’s net leverage ratio to 2.95x, and the net secured leverage ratio to 2.02x.