SS&C Technologies (SSNC) has a dominant market position in the asset management service industry. As its clients keep growing AUM and SS&C continues to consolidate the industry, SSNC's returns get structurally more robust. Uniform Accounting highlights that the market is not pricing in any moat for SSNC, suggesting room for equity upside. SSNC has rolled up several asset management service solutions to become the most comprehensive offering in the industry. As its offerings become more complete...
SS&C Technologies (SSNC) has a dominant market position in the asset management service industry. As its clients keep growing AUM and SS&C continues to consolidate the industry, SSNC's returns get structurally more robust. Uniform Accounting highlights that the market is not pricing in any moat for SSNC, suggesting room for equity upside. SSNC has rolled up several asset management service solutions to become the most comprehensive offering in the industry. As its offerings become more complete...
The independent financial analyst theScreener just lowered the general evaluation of SS&C TECHNOLOGIES (US), active in the Software industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date January 21, 2022, the closing price was USD 79.52 an...
Freeport-McMoRan (FCX) is one of the best-positioned copper miners to benefit from the various megatrends pushing copper demand higher. Uniform Accounting highlights that the market is significantly mispricing the value of Freeport's production capabilities, signaling the potential for equity upside. With trends like the IoT and EVs driving stronger demand for precious metals, copper producers like Freeport are well positioned for a boost in profitability. Additionally, Freeport has the po...
SS&C Technologies Holdings, Inc. (SSNC) currently trades above historical but below corporate averages relative to Uniform earnings, with a 17.5x Uniform P/E (Fwd. V/E'). At these levels, markets are pricing in expectations for Uniform ROA to compress to 41% in 2025, accompanied by 10% Uniform asset growth. That said, given the firm's dominant market position as a back-office service provider for the asset management industry, there is fundamental potential for stronger-than-priced-in performa...
CTSH has built an industry-leading asset-based consulting business over the past 15 years, seeing remarkably stable returns and steady investment in growth, through various economic cycles and potentially impactful regulatory changes. However, the market is expecting both their ability to drive growth and sustain and improve profitability to severely erode going forward, with UAFRS-based (Uniform) ROA falling by half and growth slowing too. While markets are overly pessimistic, management is al...
SS&C Technologies Holdings, Inc. (SSNC:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with a 17.5x Uniform P/E, implying bearish expectations for the firm. Although management's concerns about their growth rate, new product development, and cost drivers suggest the potential for near-term headwinds, market expectations are overly bearish, suggesting long-term equity upside is warranted. Specifically, management may lack confidence in their ability to ...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Even after the company's impressive rally, current market expectations for PENN are still too pessimistic. While markets expect UAFRS-based ROA (Uniform ROA or ROA') to improve to levels not seen since 2010-2012, the company has significant further upside in returns, and therefore valuations. The market is not fully recognizing how the company's sports betting strategy, centered around its Barstool investment, can help significantly turbocharge returns and also give a material lift to the exis...
SS&C Technologies Holdings, Inc. (SSNC:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with a 17.5x Uniform P/E, implying bearish expectations for the firm. Although management's concerns about their alternatives business assets, software sales growth, and capex spending suggest the potential for near-term headwinds, market expectations are overly bearish, suggesting long-term equity upside is warranted Specifically, management may be overstating the s...
Current market expectations for CVS are excessively pessimistic. Markets expect UAFRS-based (Uniform) ROA (ROA') to roll over to prior lows from 2010-2011. However, the company's fundamental strategy is likely to lead to continued ROA' expansion. CVS has been evolving into a full-service healthcare firm since their acquisition of Caremark in 2007, which led to initial ROA' expansion to 15%-17% levels. This was followed by continued investment in healthcare solutions and monetizing their data o...
SS&C Technologies Holdings, Inc. (SSNC:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with a 17.1x Uniform P/E, implying bearish expectations for the firm. Although management's concerns about their liquidity position, multi-year deal wins, and acquisitions suggest the potential for near-term headwinds, market expectations are overly bearish, suggesting long-term equity upside is likely Specifically, management may lack confidence in their ability to ...
CTSH has built an industry-leading asset-based consulting business over the past 15 years, seeing remarkably stable returns and steady investment in growth, through various economic cycles and potentially impactful regulatory changes. However, the market is expecting both their ability to drive growth and sustain and improve profitability to severely erode going forward, with UAFRS-based (Uniform) ROA falling by half and growth slowing too. While markets are overly pessimistic, management is al...
SS&C Technologies Holdings, Inc. (SSNC:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with a 16.8x Uniform P/E, implying bearish expectations for the firm. Although management's concerns about their outlook, acquisition opportunities, and Intralinks suggest the potential for near-term headwinds, market expectations are overly bearish, suggesting long-term equity upside is likely Specifically, management may lack confidence in their ability to secure p...
MSM currently trades below recent averages relative to Uniform earnings, with a 14.2x Uniform P/E. At these levels, the market is pricing in expectations for Uniform ROA to contract from 22% in 2019 to 13% in 2024, accompanied by 1% Uniform asset growth going forward. Meanwhile, analysts have similar expectations, projecting Uniform ROA to contract to 19% by 2021, accompanied by 5% Uniform asset shrinkage. That said, management is confident about their safety procedures, margins, and supply chai...
SS&C Technologies Holdings, Inc. (SSNC:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with a 15.5x Uniform P/E, implying bearish expectations for the firm. Although management's concerns about operating income, uncertain macroeconomic conditions, and business growth suggest the potential for near-term headwinds, market expectations are overly bearish, suggesting long-term equity upside is likely Specifically, management may lack confidence in their ab...
PII currently trades near corporate averages relative to Uniform earnings, with a 20.0x Uniform P/E (Fwd V/E'). At these levels, the market is pricing in expectations for Uniform ROA to decline from 18% in 2019 to 12% in 2024, accompanied by 6% Uniform asset growth. However, analysts have less bearish expectations, projecting Uniform ROA to remain at 17%-18% levels through 2021, accompanied by 4% Uniform asset shrinkage. That said, management is confident about Indian Motorcycles and Pontoon mar...
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