SS&C Technologies (NASDAQ:SSNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday. They presently have a $54.00 target price on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 8.04% from the company’s current price.
According to Zacks, “SS&C Technologies Holdings, Inc. delivers investment and financial management software and related services focused exclusively on the financial services industry. The Company provides a broad range of specialized software, software enabled-services and software as a service (SaaS) solutions for operational excellence. SS&C Technologies delivers mission-critical processing for information management, analysis, trading, accounting, reporting and compliance. The Company serves clients in the following market verticals: 1) insurance entities and pension funds, 2) institutional asset management, 3) alternative investment management 4) treasury, banks and credit unions, 5) municipal finance, 6) real estate property management, 7) commercial lending, and 8) financial markets. SS&C Technologies Holdings, Inc. is headquartered in Windsor, CT and has offices throughout North America, Europe, Asia, and Australia. “
Several other equities research analysts have also recently weighed in on SSNC. Jefferies Group reaffirmed a “buy” rating on shares of SS&C Technologies in a research note on Tuesday, October 3rd. Morgan Stanley upped their price target on SS&C Technologies from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. DA Davidson reaffirmed a “buy” rating and issued a $44.00 price target on shares of SS&C Technologies in a research note on Thursday, October 26th. Needham & Company LLC reaffirmed a “buy” rating on shares of SS&C Technologies in a research note on Friday, October 27th. Finally, Citigroup raised SS&C Technologies to a “strong-buy” rating and upped their price target for the stock from $43.00 to $46.00 in a research note on Tuesday, November 21st. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $49.55.
SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $419.60 million for the quarter, compared to analysts’ expectations of $424.14 million. SS&C Technologies had a return on equity of 15.32% and a net margin of 13.47%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $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 other SS&C Technologies news, CFO Patrick J. Pedonti sold 20,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $40.39, for a total value of $807,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 60,000 shares of company stock worth $2,414,600 over the last three months. Corporate insiders own 17.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Advisor Group Inc. boosted its holdings in SS&C Technologies by 14.3% in the second quarter. Advisor Group Inc. now owns 2,780 shares of the technology company’s stock worth $106,000 after acquiring an additional 348 shares in the last quarter. QS Investors LLC boosted its holdings in SS&C Technologies by 165.7% in the second quarter. QS Investors LLC now owns 4,810 shares of the technology company’s stock worth $185,000 after acquiring an additional 3,000 shares in the last quarter. ProShare Advisors LLC bought a new stake in SS&C Technologies in the second quarter worth $240,000. Achmea Investment Management B.V. bought a new stake in SS&C Technologies in the second quarter worth $247,000. Finally, Green Square Capital LLC bought a new stake in SS&C Technologies in the second quarter worth $257,000. 86.04% of the stock is currently owned by institutional investors and hedge funds.
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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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