Zacks Investment Research Downgrades SS&C Technologies (SSNC) to Hold

SS&C Technologies (NASDAQ:SSNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

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. “

Several other equities analysts have also issued reports on SSNC. JPMorgan Chase began coverage on SS&C Technologies in a research report on Tuesday, May 1st. They issued an “overweight” rating and a $60.00 price objective for the company. BidaskClub lowered SS&C Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 5th. Morgan Stanley set a $60.00 price objective on SS&C Technologies and gave the company a “buy” rating in a research report on Friday, April 27th. Finally, ValuEngine upgraded SS&C Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $54.89.

SS&C Technologies stock opened at $49.52 on Friday. The stock has a market cap of $11.71 billion, a PE ratio of 27.66, a P/E/G ratio of 1.65 and a beta of 1.16. SS&C Technologies has a 1 year low of $48.77 and a 1 year high of $49.14. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Tuesday, May 1st. The technology company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). The company had revenue of $434.60 million for the quarter, compared to analyst estimates of $433.77 million. SS&C Technologies had a return on equity of 15.43% and a net margin of 19.65%. SS&C Technologies’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share. equities analysts forecast that SS&C Technologies will post 2.21 EPS for the current year.

In other SS&C Technologies news, SVP Paul Gerard Igoe sold 112,000 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $48.17, for a total transaction of $5,395,040.00. Following the completion of the transaction, the senior vice president now owns 112,000 shares of the company’s stock, valued at approximately $5,395,040. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan E. Michael purchased 12,543 shares of SS&C Technologies stock in a transaction on Friday, May 11th. The shares were purchased at an average cost of $49.10 per share, with a total value of $615,861.30. The disclosure for this purchase can be found here. Corporate insiders own 17.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado boosted its position in SS&C Technologies by 0.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 376,920 shares of the technology company’s stock worth $15,258,000 after acquiring an additional 1,096 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in SS&C Technologies by 81.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,566 shares of the technology company’s stock worth $104,000 after acquiring an additional 1,152 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in SS&C Technologies by 0.9% during the 1st quarter. Thrivent Financial for Lutherans now owns 179,969 shares of the technology company’s stock worth $9,653,000 after acquiring an additional 1,569 shares during the last quarter. Toronto Dominion Bank boosted its position in SS&C Technologies by 16.4% during the 1st quarter. Toronto Dominion Bank now owns 11,979 shares of the technology company’s stock worth $642,000 after acquiring an additional 1,688 shares during the last quarter. Finally, First Personal Financial Services boosted its position in SS&C Technologies by 1,543.1% during the 1st quarter. First Personal Financial Services now owns 1,906 shares of the technology company’s stock worth $102,000 after acquiring an additional 1,790 shares during the last quarter. 74.12% 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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Analyst Recommendations for SS&C Technologies (NASDAQ:SSNC)

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