SS&C Technologies Holdings, Inc. (SSNC) Upgraded to “Strong-Buy” at Raymond James Financial, Inc.

Raymond James Financial, Inc. upgraded shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) from an outperform rating to a strong-buy rating in a research note published on Tuesday morning.

A number of other research firms have also commented on SSNC. Morgan Stanley lifted their price target on shares of SS&C Technologies Holdings from $42.00 to $44.00 and gave the company an overweight rating in a research report on Thursday, October 26th. Needham & Company LLC restated a buy rating on shares of SS&C Technologies Holdings in a research note on Friday, October 27th. DA Davidson restated a buy rating and issued a $44.00 price objective on shares of SS&C Technologies Holdings in a research note on Thursday, October 26th. Jefferies Group LLC restated a buy rating on shares of SS&C Technologies Holdings in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research downgraded shares of SS&C Technologies Holdings from a buy rating to a hold rating in a research note on Tuesday, October 3rd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $42.50.

SS&C Technologies Holdings (NASDAQ:SSNC) opened at $41.01 on Tuesday. SS&C Technologies Holdings has a 52-week low of $28.43 and a 52-week high of $42.48. The firm has a market cap of $8,170.61, a P/E ratio of 22.68, a P/E/G ratio of 1.51 and a beta of 1.09. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.87.

SS&C Technologies Holdings (NASDAQ:SSNC) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.50 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.50. SS&C Technologies Holdings had a net margin of 13.47% and a return on equity of 15.32%. The company had revenue of $419.60 million for the quarter, compared to analyst estimates of $424.14 million. During the same quarter last year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. equities analysts expect that SS&C Technologies Holdings will post 1.78 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This news story was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another site, it was illegally stolen and reposted in violation of US and international trademark & copyright law. The correct version of this news story can be accessed at https://www.com-unik.info/2017/11/22/ssc-technologies-holdings-inc-ssnc-upgraded-to-strong-buy-at-raymond-james-financial-inc.html.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.68%. SS&C Technologies Holdings’s dividend payout ratio is currently 26.67%.

In other news, CFO Patrick J. Pedonti sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $39.65, for a total value of $793,000.00. Following the sale, the chief financial officer now owns 20,000 shares in the company, valued at approximately $793,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patrick J. Pedonti sold 30,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $40.38, for a total transaction of $1,211,400.00. Following the completion of the sale, the chief financial officer now owns 30,000 shares in the company, valued at approximately $1,211,400. The disclosure for this sale can be found here. Insiders have sold 80,000 shares of company stock worth $3,161,200 in the last quarter. Corporate insiders own 17.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Alkeon Capital Management LLC raised its holdings in shares of SS&C Technologies Holdings by 0.8% in the third quarter. Alkeon Capital Management LLC now owns 2,627,211 shares of the technology company’s stock valued at $105,483,000 after buying an additional 20,000 shares during the last quarter. Crestline Management LP bought a new position in shares of SS&C Technologies Holdings in the third quarter valued at about $673,000. PEAK6 Investments L.P. raised its holdings in shares of SS&C Technologies Holdings by 177.1% in the third quarter. PEAK6 Investments L.P. now owns 6,909 shares of the technology company’s stock valued at $277,000 after buying an additional 15,875 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of SS&C Technologies Holdings by 40.7% in the third quarter. Asset Management One Co. Ltd. now owns 349,006 shares of the technology company’s stock valued at $13,990,000 after buying an additional 100,902 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of SS&C Technologies Holdings by 49.3% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 105,975 shares of the technology company’s stock valued at $4,255,000 after buying an additional 35,000 shares during the last quarter. 86.25% of the stock is owned by institutional investors and hedge funds.

About SS&C Technologies Holdings

SS&C Technologies Holdings, Inc is a holding company. The Company is a provider of software products and software-enabled services that allow financial services providers to automate complex business processes and manage their information processing requirements. The Company’s portfolio of software products and software-enabled services allows its clients to automate and integrate front-office functions, such as trading and modeling, middle-office functions, such as portfolio management and reporting, and back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing.

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

What are top analysts saying about SS&C Technologies Holdings Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for SS&C Technologies Holdings Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit