SS&C Technologies (NASDAQ:SSNC) Upgraded by BidaskClub to Strong-Buy

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BidaskClub upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a buy rating to a strong-buy rating in a report released on Friday, BidAskClub reports.

Several other equities analysts have also recently issued reports on SSNC. Needham & Company LLC dropped their price objective on shares of SS&C Technologies to $65.00 and set a strong-buy rating on the stock in a research note on Tuesday, July 30th. Zacks Investment Research lowered shares of SS&C Technologies from a hold rating to a sell rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. restated a buy rating on shares of SS&C Technologies in a research report on Monday, July 1st. Raymond James decreased their target price on shares of SS&C Technologies from $78.00 to $60.00 and set a strong-buy rating on the stock in a research report on Tuesday, July 30th. Finally, DA Davidson lowered shares of SS&C Technologies from a buy rating to a neutral rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $68.75.

Shares of SSNC opened at $52.53 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $13.33 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.15 and a beta of 1.26. The company’s fifty day moving average is $47.37 and its two-hundred day moving average is $57.11. SS&C Technologies has a 1 year low of $40.96 and a 1 year high of $67.73.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. SS&C Technologies had a net margin of 7.22% and a return on equity of 18.78%. SS&C Technologies’s revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. Sell-side analysts predict that SS&C Technologies will post 3.46 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 0.76%. SS&C Technologies’s payout ratio is currently 15.27%.

In related news, Director Jonathan E. Michael bought 2,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $48.11 per share, for a total transaction of $96,220.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 14.50% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning boosted its position in shares of SS&C Technologies by 3.5% in the 2nd quarter. Creative Planning now owns 5,497 shares of the technology company’s stock worth $317,000 after buying an additional 187 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of SS&C Technologies by 1.9% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,588 shares of the technology company’s stock worth $865,000 after buying an additional 251 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of SS&C Technologies by 2.0% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 13,410 shares of the technology company’s stock worth $773,000 after buying an additional 260 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of SS&C Technologies by 30.5% in the 2nd quarter. Advisory Services Network LLC now owns 1,282 shares of the technology company’s stock worth $74,000 after buying an additional 300 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of SS&C Technologies by 2.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,451 shares of the technology company’s stock worth $775,000 after buying an additional 305 shares in the last quarter. Institutional investors own 81.90% of the company’s stock.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.

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Analyst Recommendations for SS&C Technologies (NASDAQ:SSNC)

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