SS&C Technologies (NASDAQ:SSNC) Raised to Strong-Buy at StockNews.com

SS&C Technologies (NASDAQ:SSNC) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.

Other research analysts have also issued reports about the company. DA Davidson reiterated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. Raymond James boosted their price objective on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Friday, October 25th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a report on Friday, October 25th. Finally, Royal Bank of Canada upped their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $77.75.

SS&C Technologies Trading Up 0.5 %

NASDAQ:SSNC opened at $70.77 on Tuesday. The firm has a market capitalization of $17.53 billion, a price-to-earnings ratio of 25.37 and a beta of 1.39. SS&C Technologies has a 1-year low of $51.72 and a 1-year high of $77.02. The business’s 50-day moving average price is $74.07 and its two-hundred day moving average price is $68.12. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.04 earnings per share. On average, equities analysts expect that SS&C Technologies will post 4.62 earnings per share for the current year.

SS&C Technologies declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the transaction, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now owns 9,576 shares in the company, valued at $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 609,690 shares of company stock valued at $44,821,055. 15.40% of the stock is owned by insiders.

Institutional Trading of SS&C Technologies

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its holdings in shares of SS&C Technologies by 39.3% during the 1st quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock worth $4,305,000 after buying an additional 18,878 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of SS&C Technologies by 2,178.2% during the second quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock worth $6,568,000 after acquiring an additional 100,197 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of SS&C Technologies by 4.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock valued at $16,341,000 after purchasing an additional 11,497 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of SS&C Technologies during the second quarter worth approximately $1,661,000. Finally, Burgundy Asset Management Ltd. lifted its holdings in SS&C Technologies by 4.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock worth $309,739,000 after purchasing an additional 201,632 shares during the last quarter. 96.95% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.