Stock Track | SS&C Technologies Plunges 9.67% on Concerns Over Slowing Growth, Healthcare Challenges

Stock Track10-25

SS&C Technologies Holdings Inc (NASDAQ: SSNC) saw its stock price plummet by 9.67% on October 25th, 2024, following the release of its Q3 2024 earnings report. While the company reported record adjusted revenue and earnings growth, the market reacted negatively to concerns over slowing organic revenue growth and potential challenges in the healthcare sector.

In the earnings call, SS&C Technologies CEO William Stone acknowledged that the company expects a slowdown in organic revenue growth for Q4 2024, projecting growth of 2.4% at the midpoint. This is a significant deceleration from the robust growth rates seen in previous quarters, raising concerns among investors about the company's future performance.

Additionally, Stone highlighted potential market challenges in the healthcare sector, where SS&C has a significant presence. With ongoing merger talks and weak results from major players like Cigna and Humana, there is uncertainty surrounding the impact on SS&C's healthcare business segment.

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