Bp Plc acquired a new stake in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,000 shares of the technology company’s stock, valued at approximately $1,307,000.
Several other institutional investors have also made changes to their positions in the company. Thornburg Investment Management Inc. bought a new position in shares of SS&C Technologies during the third quarter valued at approximately $23,690,000. CIBC Asset Management Inc lifted its holdings in SS&C Technologies by 15.0% during the third quarter. CIBC Asset Management Inc now owns 9,564 shares of the technology company’s stock worth $544,000 after buying an additional 1,245 shares during the period. Commerce Bank purchased a new stake in SS&C Technologies during the third quarter worth $391,000. Wells Fargo & Company MN lifted its holdings in SS&C Technologies by 34.4% during the third quarter. Wells Fargo & Company MN now owns 224,993 shares of the technology company’s stock worth $12,786,000 after buying an additional 57,541 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in SS&C Technologies by 924.2% during the third quarter. Daiwa Securities Group Inc. now owns 71,016 shares of the technology company’s stock worth $4,036,000 after buying an additional 64,082 shares during the period. Institutional investors and hedge funds own 86.77% of the company’s stock.
SSNC has been the subject of a number of analyst reports. Sandler O’Neill restated a “buy” rating and set a $62.00 target price on shares of SS&C Technologies in a report on Monday, July 23rd. Deutsche Bank upgraded SS&C Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $57.00 to $72.00 in a report on Monday, September 10th. BidaskClub lowered SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Needham & Company LLC upped their target price on SS&C Technologies to $68.00 and gave the stock a “buy” rating in a report on Monday, August 6th. Finally, Zacks Investment Research upgraded SS&C Technologies from a “sell” rating to a “buy” rating and set a $62.00 target price for the company in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $63.00.
SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Wednesday, October 31st. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. The business had revenue of $992.40 million for the quarter, compared to the consensus estimate of $1 billion. SS&C Technologies had a return on equity of 16.18% and a net margin of 7.61%. The business’s quarterly revenue was up 137.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. Analysts anticipate that SS&C Technologies Holdings, Inc. will post 2.52 earnings per share for the current fiscal year.
In other SS&C Technologies news, Director Jonathan E. Michael purchased 600 shares of SS&C Technologies stock in a transaction dated Monday, November 5th. The shares were acquired at an average cost of $49.79 per share, with a total value of $29,874.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 17.50% of the company’s stock.
SS&C Technologies 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.
Further Reading: Price to Earnings Ratio (PE) Basics
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