SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) – Equities researchers at DA Davidson lifted their Q1 2018 earnings per share estimates for shares of SS&C Technologies in a report issued on Tuesday. DA Davidson analyst P. Heckmann now expects that the technology company will earn $0.49 per share for the quarter, up from their prior estimate of $0.46. DA Davidson has a “Buy” rating and a $54.00 price target on the stock. DA Davidson also issued estimates for SS&C Technologies’ Q2 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $2.14 EPS.
Several other analysts have also recently weighed in on SSNC. 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. Needham & Company LLC reaffirmed a “buy” rating on shares of SS&C Technologies in a report on Friday, October 27th. Citigroup raised SS&C Technologies to a “strong-buy” rating and raised their price objective for the company from $43.00 to $46.00 in a report on Tuesday, November 21st. Raymond James Financial raised SS&C Technologies from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, November 21st. Finally, JPMorgan Chase & Co. cut SS&C Technologies from an “overweight” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a report on Tuesday, December 12th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $49.55.
In related news, CFO Patrick J. Pedonti sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $40.39, for a total transaction of $807,800.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 60,000 shares of company stock worth $2,616,200. 17.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Koch Industries Inc. grew its position in SS&C Technologies by 32.0% during the 4th quarter. Koch Industries Inc. now owns 11,965 shares of the technology company’s stock worth $484,000 after acquiring an additional 2,900 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in SS&C Technologies by 73.0% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 23,700 shares of the technology company’s stock worth $959,000 after acquiring an additional 10,000 shares during the last quarter. MML Investors Services LLC bought a new position in SS&C Technologies during the 4th quarter worth approximately $449,000. Amundi Pioneer Asset Management Inc. grew its position in SS&C Technologies by 10.6% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 263,620 shares of the technology company’s stock worth $10,671,000 after acquiring an additional 25,282 shares during the last quarter. Finally, USA Financial Portformulas Corp bought a new position in SS&C Technologies during the 4th quarter worth approximately $1,102,000. Institutional investors and hedge funds own 86.62% of the company’s stock.
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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