SS&C Technologies (NASDAQ:SSNC) Upgraded by BidaskClub to Strong-Buy

BidaskClub upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a buy rating to a strong-buy rating in a research report released on Friday, BidAskClub reports.

Several other research analysts have also weighed in on the stock. Needham & Company LLC lowered their target price on shares of SS&C Technologies to $65.00 and set a strong-buy rating for the company in a research note on Tuesday, July 30th. Zacks Investment Research lowered shares of SS&C Technologies from a hold rating to a sell rating in a research note on Friday, August 2nd. Buckingham Research set a $67.00 price objective on shares of SS&C Technologies and gave the company a buy rating in a research note on Friday, September 6th. DA Davidson lowered shares of SS&C Technologies from a buy rating to a neutral rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. reissued a buy rating on shares of SS&C Technologies in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. SS&C Technologies currently has a consensus rating of Buy and an average price target of $68.75.

Shares of SSNC stock opened at $52.53 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $13.33 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.15 and a beta of 1.26. The company has a 50-day moving average of $47.37 and a two-hundred day moving average of $57.11. SS&C Technologies has a 1-year low of $40.96 and a 1-year high of $67.73.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Monday, July 29th. The technology company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. SS&C Technologies had a net margin of 7.22% and a return on equity of 18.78%. SS&C Technologies’s revenue was up 27.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. Sell-side analysts anticipate that SS&C Technologies will post 3.46 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, August 30th. SS&C Technologies’s payout ratio is 15.27%.

In other SS&C Technologies news, Director Jonathan E. Michael acquired 2,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $48.11 per share, with a total value of $96,220.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Foresters Investment Management Company Inc. lifted its stake in SS&C Technologies by 0.3% in the second quarter. Foresters Investment Management Company Inc. now owns 264,600 shares of the technology company’s stock worth $15,244,000 after acquiring an additional 750 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in SS&C Technologies by 6.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 38,840 shares of the technology company’s stock worth $2,474,000 after acquiring an additional 2,200 shares during the last quarter. TD Asset Management Inc. lifted its stake in SS&C Technologies by 3.1% in the second quarter. TD Asset Management Inc. now owns 180,378 shares of the technology company’s stock worth $10,392,000 after acquiring an additional 5,346 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in SS&C Technologies by 16.6% in the first quarter. CIBC Private Wealth Group LLC now owns 1,706,665 shares of the technology company’s stock worth $108,698,000 after acquiring an additional 242,951 shares during the last quarter. Finally, Autus Asset Management LLC lifted its stake in SS&C Technologies by 17.3% in the second quarter. Autus Asset Management LLC now owns 68,099 shares of the technology company’s stock worth $3,924,000 after acquiring an additional 10,036 shares during the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

About SS&C Technologies

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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Analyst Recommendations for SS&C Technologies (NASDAQ:SSNC)

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