SS&C Technologies (NASDAQ:SSNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “SS&C Technologies Holdings, Inc. delivers investment and financial management software and related services focused exclusively on the financial services industry. The Company provides a broad range of specialized software, software enabled-services and software as a service (SaaS) solutions for operational excellence. SS&C Technologies delivers mission-critical processing for information management, analysis, trading, accounting, reporting and compliance. The Company serves clients in the following market verticals: 1) insurance entities and pension funds, 2) institutional asset management, 3) alternative investment management 4) treasury, banks and credit unions, 5) municipal finance, 6) real estate property management, 7) commercial lending, and 8) financial markets. SS&C Technologies Holdings, Inc. is headquartered in Windsor, CT and has offices throughout North America, Europe, Asia, and Australia. “
Other research analysts have also recently issued reports about the company. BidaskClub raised SS&C Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Morgan Stanley set a $60.00 price target on SS&C Technologies and gave the company a “buy” rating in a report on Friday, April 27th. ValuEngine raised SS&C Technologies from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, JPMorgan Chase initiated coverage on SS&C Technologies in a report on Tuesday, May 1st. They issued an “overweight” rating and a $60.00 price target for the company. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.89.
Shares of NASDAQ:SSNC opened at $49.52 on Friday. SS&C Technologies has a 52 week low of $48.77 and a 52 week high of $49.14. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $11.71 billion, a PE ratio of 27.66, a PEG ratio of 1.65 and a beta of 1.16.
SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Tuesday, May 1st. The technology company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). SS&C Technologies had a net margin of 19.65% and a return on equity of 15.43%. The business had revenue of $434.60 million during the quarter, compared to the consensus estimate of $433.77 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. sell-side analysts forecast that SS&C Technologies will post 2.21 EPS for the current year.
In other news, Director Jonathan E. Michael acquired 12,543 shares of the company’s stock in a transaction on Friday, May 11th. The stock was purchased at an average cost of $49.10 per share, with a total value of $615,861.30. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Paul Gerard Igoe sold 112,000 shares of the business’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $48.17, for a total value of $5,395,040.00. Following the sale, the senior vice president now directly owns 112,000 shares of the company’s stock, valued at $5,395,040. The disclosure for this sale can be found here. Insiders own 17.50% of the company’s stock.
A number of large investors have recently made changes to their positions in SSNC. Atria Investments LLC bought a new stake in SS&C Technologies during the 4th quarter worth about $327,000. Bank of Montreal Can raised its holdings in SS&C Technologies by 965.7% during the 4th quarter. Bank of Montreal Can now owns 115,448 shares of the technology company’s stock worth $4,673,000 after purchasing an additional 104,615 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in SS&C Technologies by 4.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 646,770 shares of the technology company’s stock worth $26,182,000 after purchasing an additional 24,598 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in SS&C Technologies during the 4th quarter worth about $501,000. Finally, GW&K Investment Management LLC raised its holdings in SS&C Technologies by 20.3% during the 4th quarter. GW&K Investment Management LLC now owns 606,974 shares of the technology company’s stock worth $24,570,000 after purchasing an additional 102,626 shares during the last quarter. 74.12% of the stock is owned by hedge funds and other institutional investors.
About SS&C Technologies
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its 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, performance measurement, reconciliation, reporting, processing, and clearing.
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