SS&C Technologies’ (SSNC) “Buy” Rating Reaffirmed at UBS

SS&C Technologies (NASDAQ:SSNC)‘s stock had its “buy” rating reaffirmed by research analysts at UBS in a research note issued to investors on Thursday, The Fly reports. They currently have a $49.00 price objective on the technology company’s stock. UBS’s target price indicates a potential upside of 18.64% from the company’s current price.

SSNC has been the topic of several other reports. Zacks Investment Research downgraded SS&C Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Morgan Stanley raised their price target on SS&C Technologies from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Raymond James Financial raised SS&C Technologies from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, November 21st. Jefferies Group reissued a “buy” rating on shares of SS&C Technologies in a report on Tuesday, October 3rd. Finally, Citigroup raised SS&C Technologies to a “strong-buy” rating and raised their price target for the company from $43.00 to $46.00 in a report on Tuesday, November 21st. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $43.82.

Shares of SS&C Technologies (NASDAQ:SSNC) traded down $0.19 during mid-day trading on Thursday, hitting $41.30. The company’s stock had a trading volume of 1,060,412 shares, compared to its average volume of 998,222. SS&C Technologies has a one year low of $28.43 and a one year high of $42.50. The stock has a market cap of $8,610.00, a P/E ratio of 23.73, a P/E/G ratio of 1.58 and a beta of 1.08. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.87.

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

In related news, CFO Patrick J. Pedonti sold 20,000 shares of SS&C Technologies stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $39.65, for a total transaction of $793,000.00. Following the completion of the transaction, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at $793,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Patrick J. Pedonti sold 30,000 shares of SS&C Technologies 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 transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at $1,211,400. 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 three months. Insiders own 17.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Burgundy Asset Management Ltd. raised its holdings in SS&C Technologies by 2.6% during the third quarter. Burgundy Asset Management Ltd. now owns 2,652,366 shares of the technology company’s stock worth $106,492,000 after purchasing an additional 68,110 shares during the last quarter. Alkeon Capital Management LLC raised its holdings in SS&C Technologies by 0.8% during the third quarter. Alkeon Capital Management LLC now owns 2,627,211 shares of the technology company’s stock worth $105,483,000 after purchasing an additional 20,000 shares during the last quarter. Crestline Management LP acquired a new position in SS&C Technologies during the third quarter worth $673,000. PEAK6 Investments L.P. raised its holdings in SS&C Technologies by 177.1% during the third quarter. PEAK6 Investments L.P. now owns 6,909 shares of the technology company’s stock worth $277,000 after purchasing an additional 15,875 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in SS&C Technologies by 40.7% during the third quarter. Asset Management One Co. Ltd. now owns 349,006 shares of the technology company’s stock worth $13,990,000 after purchasing an additional 100,902 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

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About SS&C Technologies

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.

The Fly

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

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