SS&C Technologies Holdings, Inc. (SSNC) Receives Average Rating of “Buy” from Brokerages

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) have received an average recommendation of “Buy” from the sixteen research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $64.54.

Several brokerages have recently weighed in on SSNC. BidaskClub raised SS&C Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday. Buckingham Research initiated coverage on SS&C Technologies in a report on Thursday, January 24th. They issued a “buy” rating and a $65.00 target price for the company. UBS Group lowered their price target on SS&C Technologies from $63.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, January 8th. Zacks Investment Research upgraded SS&C Technologies from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Saturday, January 5th. Finally, Raymond James decreased their target price on SS&C Technologies from $68.00 to $67.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 2nd.

NASDAQ:SSNC traded up $0.11 during trading hours on Wednesday, reaching $55.44. The company had a trading volume of 1,774,584 shares, compared to its average volume of 1,590,460. SS&C Technologies has a 1-year low of $40.96 and a 1-year high of $60.97. The company has a market capitalization of $13.28 billion, a PE ratio of 30.97 and a beta of 1.13. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.57.

In other news, Director Jonathan E. Michael acquired 10,000 shares of the business’s stock in a transaction on Tuesday, November 20th. The shares were purchased at an average price of $44.58 per share, for a total transaction of $445,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Jay Zamkow acquired 22,100 shares of the business’s stock in a transaction on Thursday, November 15th. The shares were purchased at an average price of $47.53 per share, for a total transaction of $1,050,413.00. Following the purchase, the director now directly owns 21,000 shares of the company’s stock, valued at $998,130. The disclosure for this purchase can be found here. Insiders bought 32,198 shares of company stock valued at $1,500,447 in the last ninety days. Company insiders own 17.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. FMR LLC grew its holdings in SS&C Technologies by 51.7% in the 2nd quarter. FMR LLC now owns 7,779,276 shares of the technology company’s stock worth $403,744,000 after buying an additional 2,650,392 shares in the last quarter. First Hawaiian Bank lifted its holdings in shares of SS&C Technologies by 18.8% in the fourth quarter. First Hawaiian Bank now owns 17,779 shares of the technology company’s stock valued at $802,000 after purchasing an additional 2,808 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of SS&C Technologies by 3,849.1% during the third quarter. Nordea Investment Management AB now owns 217,517 shares of the technology company’s stock worth $12,362,000 after acquiring an additional 212,009 shares in the last quarter. Autus Asset Management LLC raised its holdings in shares of SS&C Technologies by 10.9% during the third quarter. Autus Asset Management LLC now owns 47,133 shares of the technology company’s stock worth $2,679,000 after acquiring an additional 4,618 shares in the last quarter. Finally, DNB Asset Management AS raised its holdings in shares of SS&C Technologies by 9.0% during the third quarter. DNB Asset Management AS now owns 19,342 shares of the technology company’s stock worth $1,099,000 after acquiring an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.

SS&C Technologies Company Profile

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

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