SS&C Technologies (NASDAQ:SSNC) was downgraded by investment analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They currently have a $49.00 price objective on the technology company’s stock. J P Morgan Chase & Co’s target price points to a potential upside of 19.51% from the company’s previous close.
Several other equities analysts also recently issued reports on the company. Raymond James Financial upgraded SS&C Technologies from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, November 21st. Citigroup upgraded SS&C Technologies to a “strong-buy” rating and lifted their price objective for the company from $43.00 to $46.00 in a research report on Tuesday, November 21st. Needham & Company LLC reiterated a “buy” rating on shares of SS&C Technologies in a research report on Friday, October 27th. DA Davidson reiterated a “buy” rating and issued a $44.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 26th. Finally, Morgan Stanley lifted their price objective on SS&C Technologies from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. Four research 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 company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $43.82.
Shares of SS&C Technologies (SSNC) traded down $0.30 on Tuesday, reaching $41.00. The company’s stock had a trading volume of 1,519,683 shares, compared to its average volume of 630,998. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.87. SS&C Technologies has a 52-week low of $28.43 and a 52-week high of $42.50. The company has a market cap of $8,440.00, a P/E ratio of 23.43, a price-to-earnings-growth ratio of 1.56 and a beta of 1.08.
In related news, 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 transaction of $1,211,400.00. Following the completion of the sale, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at $1,211,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Patrick J. Pedonti sold 20,000 shares of SS&C Technologies stock in a transaction on Friday, December 1st. The stock was sold at an average price of $40.69, for a total value of $813,800.00. Following the sale, the chief financial officer now directly owns 17,500 shares of the company’s stock, valued at $712,075. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,000 shares of company stock valued at $2,818,200. 17.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. grew its stake in shares of SS&C Technologies by 14.3% during the second quarter. Advisor Group Inc. now owns 2,780 shares of the technology company’s stock worth $106,000 after purchasing an additional 348 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in shares of SS&C Technologies by 25.6% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,050 shares of the technology company’s stock worth $117,000 after purchasing an additional 622 shares during the period. First Mercantile Trust Co. grew its stake in shares of SS&C Technologies by 20.5% during the second quarter. First Mercantile Trust Co. now owns 3,676 shares of the technology company’s stock worth $141,000 after purchasing an additional 625 shares during the period. QS Investors LLC grew its stake in shares of SS&C Technologies by 165.7% during the second quarter. QS Investors LLC now owns 4,810 shares of the technology company’s stock worth $185,000 after purchasing an additional 3,000 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of SS&C Technologies by 46.2% during the second quarter. SG Americas Securities LLC now owns 4,902 shares of the technology company’s stock worth $188,000 after purchasing an additional 1,550 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: “SS&C Technologies (SSNC) Downgraded by J P Morgan Chase & Co” was first published by American Market News and is owned by of American Market News. If you are accessing this piece on another site, it was illegally copied and reposted in violation of United States and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/12/17/ssc-technologies-ssnc-downgraded-by-j-p-morgan-chase-co.html.
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.
