SS&C Technologies (NASDAQ:SSNC) Stock Rating Lowered by Zacks Research

SS&C Technologies (NASDAQ:SSNC) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Several other analysts also recently commented on SSNC. Jefferies Financial Group reduced their target price on SS&C Technologies from $92.00 to $83.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Weiss Ratings raised SS&C Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. UBS Group reaffirmed a “buy” rating and set a $101.00 price target on shares of SS&C Technologies in a research note on Wednesday, September 9th. JPMorgan Chase & Co. cut their price target on SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. Finally, BWS Financial reissued a “buy” rating on shares of SS&C Technologies in a research note on Wednesday, September 9th. One research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.62.

SS&C Technologies Stock Up 0.2%

SS&C Technologies stock opened at $87.09 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.09. SS&C Technologies has a 12-month low of $61.40 and a 12-month high of $89.93. The firm’s fifty day moving average is $81.28 and its 200 day moving average is $73.49. The company has a market capitalization of $20.44 billion, a PE ratio of 25.03 and a beta 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, topping analysts’ consensus estimates of $1.68 by $0.08. SS&C Technologies had a net margin of 13.16% and a return on equity of 21.20%. 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 company posted $1.45 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts predict that SS&C Technologies will post 6.26 EPS for the current fiscal year.

Institutional Trading of SS&C Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. ZWJ Investment Counsel Inc. grew its position in SS&C Technologies by 6.7% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 495,122 shares of the technology company’s stock worth $38,159,000 after purchasing an additional 30,907 shares in the last quarter. Skylands Capital LLC boosted its stake in shares of SS&C Technologies by 71.6% in the 1st quarter. Skylands Capital LLC now owns 138,475 shares of the technology company’s stock worth $9,357,000 after buying an additional 57,775 shares during the last quarter. Andra AP fonden grew its holdings in shares of SS&C Technologies by 56.9% in the second quarter. Andra AP fonden now owns 331,000 shares of the technology company’s stock valued at $20,539,000 after acquiring an additional 120,100 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of SS&C Technologies in the second quarter valued at approximately $15,709,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of SS&C Technologies during the second quarter valued at approximately $1,380,000. 96.90% of the stock is 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.