SS&C Technologies (NASDAQ:SSNC) Cut to Buy at StockNews.com

SS&C Technologies (NASDAQ:SSNC) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

A number of other equities analysts also recently commented on SSNC. Raymond James lifted their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. DA Davidson reaffirmed a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a research report on Thursday, October 10th. Royal Bank of Canada increased their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.75.

SS&C Technologies Trading Down 1.1 %

SSNC stock opened at $73.40 on Friday. SS&C Technologies has a 12-month low of $54.44 and a 12-month high of $77.02. The business’s 50-day moving average is $74.03 and its 200 day moving average is $68.95. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a market cap of $18.18 billion, a price-to-earnings ratio of 26.31 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 earnings per share. On average, sell-side analysts anticipate that SS&C Technologies will post 4.62 EPS for the current fiscal year.

SS&C Technologies declared that its board has initiated a stock buyback program on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the transaction, the chief operating officer now owns 57,642 shares of the company’s stock, valued at $4,215,359.46. This trade represents a 87.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the transaction, the director now owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This trade represents a 45.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 561,190 shares of company stock worth $41,386,285 in the last three months. 15.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On SS&C Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC purchased a new position in SS&C Technologies in the first quarter worth approximately $212,000. Sei Investments Co. lifted its position in shares of SS&C Technologies by 1.3% during the 1st quarter. Sei Investments Co. now owns 55,035 shares of the technology company’s stock worth $3,543,000 after purchasing an additional 682 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of SS&C Technologies by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock worth $16,341,000 after purchasing an additional 11,497 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in SS&C Technologies by 18.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 113,227 shares of the technology company’s stock valued at $7,288,000 after buying an additional 17,545 shares during the last quarter. Finally, HBK Sorce Advisory LLC acquired a new stake in SS&C Technologies in the first quarter valued at $202,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.