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.
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.
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.
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