SS&C Technologies (NASDAQ:SSNC) Stock Rating Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of SS&C Technologies (NASDAQ:SSNC) from a hold rating to a strong sell rating in a research note published on Tuesday,Zacks reports.

Several other research analysts have also recently issued reports on SSNC. JPMorgan Chase & Co. cut their price objective on SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research report on Friday, July 24th. Weiss Ratings raised shares of SS&C Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. UBS Group reiterated a “buy” rating and issued a $101.00 price target on shares of SS&C Technologies in a report on Wednesday, September 9th. Finally, DA Davidson reiterated a “buy” rating and issued a $96.00 price objective on shares of SS&C Technologies in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, SS&C Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.62.

SS&C Technologies Stock Performance

NASDAQ SSNC opened at $87.09 on Tuesday. The stock has a market capitalization of $20.44 billion, a price-to-earnings ratio of 25.03 and a beta of 1.09. The business’s 50 day moving average is $81.28 and its two-hundred day moving average is $73.49. SS&C Technologies has a 12-month low of $61.40 and a 12-month high of $89.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.09.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, July 23rd. The technology company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.68 by $0.08. SS&C Technologies had a return on equity of 21.20% and a net margin of 13.16%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the firm earned $1.45 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts expect that SS&C Technologies will post 6.26 EPS for the current year.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.30 per share. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 1st. SS&C Technologies’s payout ratio is presently 34.48%.

Institutional Trading of SS&C Technologies

Institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in shares of SS&C Technologies in the second quarter valued at $25,000. Pension & Wealth Management Advisors Inc. acquired a new position in shares of SS&C Technologies during the 3rd quarter worth $29,000. Ameritas Advisory Services LLC acquired a new position in shares of SS&C Technologies during the 2nd quarter worth $31,000. Johnson Financial Group Inc. purchased a new stake in shares of SS&C Technologies in the 2nd quarter worth about $43,000. Finally, Westpac Banking Corp purchased a new stake in shares of SS&C Technologies in the 2nd quarter worth about $46,000. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

About SS&C Technologies

SS&C Technologies Holdings, Inc is a global provider of software and technology-enabled services for the financial services and healthcare industries. The company helps investment firms, banks, insurers, corporations and healthcare organizations manage operations, data, reporting and regulatory requirements through integrated technology platforms and outsourced services.

Its financial services offerings support areas including investment and fund accounting, portfolio and wealth management, trading and risk management, alternative investments, private markets, transfer agency, fund administration and investor communications.