SS&C Technologies (SSNC) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of SS&C Technologies (NASDAQ:SSNC) from a hold rating to a sell rating in a research note published on Friday.

A number of other equities analysts have also recently issued reports on the company. Raymond James Financial upgraded SS&C Technologies from an outperform rating to a strong-buy rating in a report on Tuesday, November 21st. Zacks Investment Research cut SS&C Technologies from a buy rating to a hold rating in a report on Wednesday, August 30th. Citigroup upgraded SS&C Technologies to a strong-buy rating and upped their target price for the stock from $43.00 to $46.00 in a report on Tuesday, November 21st. Morgan Stanley upped their target price on SS&C Technologies from $42.00 to $44.00 and gave the stock an overweight rating in a report on Thursday, October 26th. Finally, DA Davidson reiterated a buy rating and issued a $44.00 target price on shares of SS&C Technologies in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $43.82.

SS&C Technologies (SSNC) opened at $40.44 on Friday. SS&C Technologies has a 1-year low of $28.43 and a 1-year high of $42.50. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $8,330.00, a price-to-earnings ratio of 38.51, a P/E/G ratio of 1.54 and a beta of 1.08.

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

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Thursday, November 30th. SS&C Technologies’s dividend payout ratio is 26.67%.

In other SS&C Technologies news, CFO Patrick J. Pedonti sold 30,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $40.38, for a total value of $1,211,400.00. Following the completion of the sale, the chief financial officer now directly owns 30,000 shares in the company, valued at approximately $1,211,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Patrick J. Pedonti sold 20,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $40.69, for a total value of $813,800.00. Following the completion of the transaction, the chief financial officer now directly owns 17,500 shares of the company’s stock, valued at $712,075. The disclosure for this sale can be found here. Insiders sold a total of 70,000 shares of company stock valued at $2,818,200 over the last quarter. Company insiders own 17.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of SS&C Technologies by 20.9% in the 2nd quarter. State Street Corp now owns 3,012,292 shares of the technology company’s stock worth $115,706,000 after acquiring an additional 521,727 shares in the last quarter. Tredje AP fonden acquired a new position in SS&C Technologies during the 2nd quarter valued at about $263,000. Green Square Capital LLC acquired a new position in SS&C Technologies during the 2nd quarter valued at about $257,000. State of Wisconsin Investment Board increased its position in SS&C Technologies by 7.4% during the 3rd quarter. State of Wisconsin Investment Board now owns 157,385 shares of the technology company’s stock valued at $6,319,000 after buying an additional 10,885 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its position in SS&C Technologies by 138.3% during the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 238,338 shares of the technology company’s stock valued at $9,569,000 after buying an additional 138,338 shares in the last quarter. 86.13% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This report was first reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://www.com-unik.info/2017/12/26/ssc-technologies-ssnc-stock-rating-lowered-by-bidaskclub.html.

SS&C Technologies Company Profile

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 (NASDAQ:SSNC)

Receive News & Ratings for SS&C Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SS&C Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

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