SS&C Technologies (SSNC) Rating Increased to Buy at Zacks Investment Research
SS&C Technologies (NASDAQ:SSNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The firm currently has a $46.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.92% from the stock’s previous close.
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. “
A number of other research firms have also commented on SSNC. Morgan Stanley raised their price objective on shares of SS&C Technologies from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. UBS Group restated a “buy” rating and issued a $49.00 price objective on shares of SS&C Technologies in a research report on Thursday, December 14th. JPMorgan Chase & Co. lowered shares of SS&C Technologies from an “overweight” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research report on Tuesday, December 12th. Needham & Company LLC restated a “buy” rating on shares of SS&C Technologies in a research report on Friday, October 27th. Finally, DA Davidson restated a “buy” rating and issued a $44.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $44.09.
SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. SS&C Technologies had a net margin of 13.47% and a return on equity of 15.32%. The company had revenue of $419.60 million during the quarter, compared to analyst estimates of $424.14 million. During the same period last year, the business earned $0.42 earnings per share. SS&C Technologies’s revenue was up 7.1% compared to the same quarter last year. analysts predict that SS&C Technologies will post 1.78 EPS for the current fiscal year.
In other SS&C Technologies news, CFO Patrick J. Pedonti sold 20,000 shares of SS&C Technologies stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $39.65, for a total transaction of $793,000.00. Following the completion of the sale, the chief financial officer now directly owns 20,000 shares in the company, valued at $793,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 60,000 shares of company stock valued at $2,414,600. 17.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in SSNC. Advisor Group Inc. lifted its position in SS&C Technologies by 14.3% during the second quarter. Advisor Group Inc. now owns 2,780 shares of the technology company’s stock valued at $106,000 after purchasing an additional 348 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in 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 valued at $117,000 after purchasing an additional 622 shares during the last quarter. QS Investors LLC raised 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 acquiring an additional 3,000 shares in the last quarter. SG Americas Securities LLC raised 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 acquiring an additional 1,550 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of SS&C Technologies during the second quarter worth approximately $240,000. Institutional investors and hedge funds own 86.13% of the company’s stock.
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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.
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