Zacks Investment Research downgraded shares of SS&C Technologies (NASDAQ:SSNC) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.
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. “
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SSNC has been the topic of several other reports. Raymond James decreased their target price on shares of SS&C Technologies from $68.00 to $67.00 and set a strong-buy rating on the stock in a research report on Wednesday, January 2nd. UBS Group decreased their target price on shares of SS&C Technologies from $63.00 to $60.00 and set a buy rating on the stock in a research report on Tuesday, January 8th. JPMorgan Chase & Co. set a $70.00 price target on SS&C Technologies and gave the stock a buy rating in a research note on Tuesday, October 23rd. DA Davidson raised SS&C Technologies from a neutral rating to a buy rating in a research note on Friday, November 16th. Finally, Royal Bank of Canada lifted their price target on SS&C Technologies to $70.00 and gave the stock an outperform rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $64.93.
Shares of NASDAQ SSNC traded up $3.52 during trading on Friday, hitting $59.86. 5,096,627 shares of the company were exchanged, compared to its average volume of 1,489,476. The firm has a market capitalization of $15.01 billion, a P/E ratio of 33.44, a PEG ratio of 1.21 and a beta of 1.13. SS&C Technologies has a 1 year low of $40.96 and a 1 year high of $60.97. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.58 and a current ratio of 1.58.
SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, February 14th. The technology company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.85 by $0.10. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. SS&C Technologies had a net margin of 7.61% and a return on equity of 15.04%. The business’s revenue was up 157.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. On average, sell-side analysts forecast that SS&C Technologies will post 2.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, February 28th. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.08. SS&C Technologies’s payout ratio is 17.88%.
In other news, Director Jonathan E. Michael bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The stock was purchased at an average price of $44.58 per share, with a total value of $445,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 10,098 shares of company stock valued at $450,034 in the last three months. 17.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in SSNC. Prime Capital Investment Advisors LLC acquired a new position in SS&C Technologies in the 4th quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new position in SS&C Technologies in the 4th quarter valued at about $36,000. CWM LLC raised its stake in SS&C Technologies by 115.6% in the 4th quarter. CWM LLC now owns 873 shares of the technology company’s stock valued at $39,000 after purchasing an additional 468 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in SS&C Technologies in the 4th quarter valued at about $49,000. Finally, Csenge Advisory Group acquired a new position in SS&C Technologies in the 3rd quarter valued at about $81,000. 80.95% of the stock is owned by hedge funds and other institutional investors.
SS&C Technologies Company Profile
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, performance measurement, reconciliation, reporting, processing, and clearing.
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