SS&C Technologies (SSNC) posted a solid Q1 amid a tough macro backdrop, with organic growth of 5%, and guided to Q2 growth of 5.6% at the midpoint, along with management's high conviction toward share repurchases, RBC Capital Markets said in a note emailed Friday.

As tokenization and artificial intelligence remain key debates around the stock, the company is rolling out an AI orchestration platform next week and has made progress in supporting clients looking to tokenize assets, according to the note.

While year-over-year growth remained solid, the GlobeOp division decelerated by 250 basis points sequentially in Q1 and Global Investor and Distribution Solutions faces a tougher comp in the second half, the firm noted. Q1 revenue retention was 96.7%, compared with 96.4% last quarter and 97.1% a year ago, the brokerage said.

RBC raised its 2026 revenue and adjusted EPS estimates to $6.76 billion and $6.92, respectively, from $6.71 billon and $6.83. It also updated 2027 revenue and adjusted EPS estimates to $7.11 billion and $7.50 from $7.06 billion and $7.45.

RBC maintained an outperform rating on SS&C Technologies with a price target of $89.

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