SS&C Technologies (SSNC) Rating Increased to Hold at BidaskClub

SS&C Technologies (NASDAQ:SSNC) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Saturday. DA Davidson reissued a “buy” rating and set a $44.00 target price on shares of SS&C Technologies in a research report on Thursday, October 26th. Needham & Company LLC reissued a “buy” rating on shares of SS&C Technologies in a research report on Friday, October 27th. JPMorgan Chase & Co. downgraded shares of SS&C Technologies from an “overweight” rating to a “neutral” rating and set a $49.00 target price for the company. in a research report on Tuesday, December 12th. Finally, Citigroup raised shares of SS&C Technologies to a “strong-buy” rating and boosted their target price for the stock from $43.00 to $46.00 in a research report on Tuesday, November 21st. Three equities research 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’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.09.

SS&C Technologies (NASDAQ:SSNC) traded up $0.39 during trading hours on Friday, hitting $41.85. 526,282 shares of the stock traded hands, compared to its average volume of 798,313. 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 company has a market capitalization of $8,700.00, a P/E ratio of 39.86, a PEG ratio of 1.37 and a beta of 1.08. SS&C Technologies has a one year low of $29.54 and a one year high of $42.50.

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

In related news, CFO Patrick J. Pedonti sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $40.39, for a total transaction of $807,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 60,000 shares of company stock worth $2,414,600. 17.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its holdings in SS&C Technologies by 5,137.5% during the second quarter. Janus Henderson Group PLC now owns 20,123,345 shares of the technology company’s stock worth $772,938,000 after purchasing an additional 19,739,127 shares during the last quarter. Vanguard Group Inc. boosted its stake in SS&C Technologies by 2.6% in the second quarter. Vanguard Group Inc. now owns 13,793,410 shares of the technology company’s stock valued at $529,806,000 after acquiring an additional 343,969 shares during the last quarter. BlackRock Inc. boosted its stake in SS&C Technologies by 4.5% in the second quarter. BlackRock Inc. now owns 8,606,133 shares of the technology company’s stock valued at $330,563,000 after acquiring an additional 373,193 shares during the last quarter. State Street Corp boosted its stake in SS&C Technologies by 20.9% in the second quarter. State Street Corp now owns 3,012,292 shares of the technology company’s stock valued at $115,706,000 after acquiring an additional 521,727 shares during the last quarter. Finally, Burgundy Asset Management Ltd. boosted its stake in SS&C Technologies by 2.6% in the third quarter. Burgundy Asset Management Ltd. now owns 2,652,366 shares of the technology company’s stock valued at $106,492,000 after acquiring an additional 68,110 shares during the last quarter. Institutional investors and hedge funds own 86.13% of the company’s stock.

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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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