SS&C Technologies (NASDAQ:SSNC) Stock Rating Upgraded by StockNews.com

SS&C Technologies (NASDAQ:SSNC) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

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

SS&C Technologies Stock Performance

Shares of SSNC opened at $70.77 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies has a 12 month low of $51.72 and a 12 month high of $77.02. The company’s fifty day moving average is $74.07 and its 200-day moving average is $68.12. The firm has a market cap of $17.53 billion, a price-to-earnings ratio of 25.37 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the company posted $1.04 EPS. The firm’s revenue was up 7.3% on a year-over-year basis. Equities analysts expect that SS&C Technologies will post 4.62 EPS for the current fiscal year.

SS&C Technologies declared that its board has initiated a stock buyback program on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s 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 owns 22,576 shares in the company, valued at $1,715,098.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of the firm’s 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 sale, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 609,690 shares of company stock valued at $44,821,055 over the last quarter. Corporate insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Swedbank AB acquired a new position in SS&C Technologies in the first quarter worth $94,939,000. Millennium Management LLC grew its holdings in SS&C Technologies by 49.2% during the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock worth $213,070,000 after acquiring an additional 1,120,961 shares during the last quarter. AQR Capital Management LLC increased its position in SS&C Technologies by 82.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock valued at $78,900,000 after acquiring an additional 571,334 shares in the last quarter. Capital International Investors increased its position in SS&C Technologies by 111.1% in the 1st quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock valued at $68,975,000 after acquiring an additional 564,017 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of SS&C Technologies by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,696,702 shares of the technology company’s stock worth $168,995,000 after acquiring an additional 349,911 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.