SS&C Technologies (NASDAQ:SSNC) Shares Gap Down Following Analyst Downgrade

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) gapped down prior to trading on Wednesday after ValuEngine downgraded the stock from a hold rating to a sell rating. The stock had previously closed at $50.38, but opened at $49.94. SS&C Technologies shares last traded at $48.87, with a volume of 146,580 shares traded.

A number of other brokerages also recently commented on SSNC. DA Davidson reiterated a “neutral” rating on shares of Peoples Utah Bancorp in a research report on Tuesday. BidaskClub downgraded Woodward, Inc.Common Stock from a “strong-buy” rating to a “buy” rating in a research report on Saturday. UBS Group raised their target price on Verisk Analytics from $106.00 to $111.00 and gave the stock a “sell” rating in a research report on Tuesday, April 9th. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, Raymond James restated a “neutral” rating and set a $5.00 target price on shares of in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $68.64.

In related news, SVP Joseph J. Frank sold 10,141 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $59.89, for a total transaction of $607,344.49. Following the completion of the sale, the senior vice president now directly owns 9,910 shares of the company’s stock, valued at approximately $593,509.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Jay Zamkow purchased 17,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $59.76 per share, with a total value of $1,015,920.00. Following the completion of the acquisition, the director now directly owns 38,000 shares in the company, valued at $2,270,880. The disclosure for this purchase can be found here. Insiders have purchased a total of 17,097 shares of company stock valued at $1,021,646 in the last 90 days. 14.50% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Swedbank acquired a new stake in SS&C Technologies during the 1st quarter valued at $109,590,000. DNB Asset Management AS increased its stake in shares of SS&C Technologies by 38.2% in the 1st quarter. DNB Asset Management AS now owns 66,016 shares of the technology company’s stock valued at $4,205,000 after buying an additional 18,255 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in shares of SS&C Technologies by 6.0% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 38,840 shares of the technology company’s stock valued at $2,474,000 after buying an additional 2,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of SS&C Technologies by 14.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 433,553 shares of the technology company’s stock valued at $27,613,000 after buying an additional 53,318 shares during the period. Finally, Capital Investment Services of America Inc. increased its stake in shares of SS&C Technologies by 0.8% in the 1st quarter. Capital Investment Services of America Inc. now owns 265,329 shares of the technology company’s stock valued at $16,899,000 after buying an additional 2,183 shares during the period. 82.69% of the stock is owned by hedge funds and other institutional investors.

The company’s 50 day simple moving average is $58.05. The stock has a market capitalization of $15.30 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.77.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Monday, July 29th. The technology company reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. SS&C Technologies had a return on equity of 17.19% and a net margin of 3.20%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. Analysts forecast that SS&C Technologies Holdings, Inc. will post 3.61 EPS for the current year.

SS&C Technologies Company Profile (NASDAQ:SSNC)

SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's 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, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.

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