SS&C Technologies Holdings, Inc. (SSNC) Given New $44.00 Price Target at Morgan Stanley

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) had its price target boosted by Morgan Stanley from $42.00 to $44.00 in a research note published on Thursday. The firm currently has an overweight rating on the technology company’s stock.

Several other equities research analysts have also commented on the stock. Jefferies Group LLC restated a buy rating on shares of SS&C Technologies Holdings in a research report on Tuesday, October 3rd. Zacks Investment Research lowered shares of SS&C Technologies Holdings from a buy rating to a hold rating in a research report on Tuesday, October 3rd. DA Davidson assumed coverage on shares of SS&C Technologies Holdings in a research report on Thursday, September 14th. They set a buy rating and a $43.00 target price on the stock. BidaskClub lowered shares of SS&C Technologies Holdings from a buy rating to a hold rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada restated a buy rating and set a $41.00 target price on shares of SS&C Technologies Holdings in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $42.11.

SS&C Technologies Holdings (NASDAQ:SSNC) traded up 0.15% during trading on Thursday, reaching $40.61. 1,494,040 shares of the company’s stock were exchanged. SS&C Technologies Holdings has a 52 week low of $28.43 and a 52 week high of $42.48. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 43.29 and a beta of 1.12. The stock has a 50-day moving average price of $40.07 and a 200 day moving average price of $38.52.

SS&C Technologies Holdings (NASDAQ:SSNC) last issued its earnings results on Wednesday, October 25th. The technology company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $419.60 million for the quarter, compared to analyst estimates of $424.14 million. SS&C Technologies Holdings had a net margin of 13.47% and a return on equity of 15.60%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. Equities research analysts forecast that SS&C Technologies Holdings will post $1.93 earnings per share for the current fiscal year.

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In other news, CFO Patrick J. Pedonti sold 30,000 shares of SS&C Technologies Holdings stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $40.38, for a total transaction of $1,211,400.00. Following the completion of the transaction, the chief financial officer now owns 30,000 shares of the company’s stock, valued at approximately $1,211,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Jay Zamkow purchased 14,275 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were purchased at an average cost of $36.62 per share, with a total value of $522,750.50. The disclosure for this purchase can be found here. Insiders have sold a total of 90,000 shares of company stock valued at $3,503,100 in the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. raised its stake in shares of SS&C Technologies Holdings by 46.0% during the 3rd quarter. Fortaleza Asset Management Inc. now owns 15,225 shares of the technology company’s stock worth $611,000 after buying an additional 4,800 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in shares of SS&C Technologies Holdings by 4.9% during the 3rd quarter. Pictet Asset Management Ltd. now owns 59,400 shares of the technology company’s stock worth $2,385,000 after buying an additional 2,800 shares during the last quarter. Peregrine Capital Management LLC raised its stake in shares of SS&C Technologies Holdings by 3.5% during the 3rd quarter. Peregrine Capital Management LLC now owns 1,390,206 shares of the technology company’s stock worth $55,817,000 after buying an additional 47,320 shares during the last quarter. First Trust Advisors LP raised its stake in shares of SS&C Technologies Holdings by 18.2% during the 3rd quarter. First Trust Advisors LP now owns 395,216 shares of the technology company’s stock worth $15,868,000 after buying an additional 60,987 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new position in shares of SS&C Technologies Holdings during the 3rd quarter worth $956,000. 87.78% of the stock is owned by institutional investors and hedge funds.

About SS&C Technologies Holdings

SS&C Technologies Holdings, Inc is a holding company. The Company is a provider of software products and software-enabled services that allow financial services providers to automate complex business processes and manage their information processing requirements. The Company’s portfolio of software products and software-enabled services allows its clients to automate and integrate front-office functions, such as trading and modeling, middle-office functions, such as portfolio management and reporting, and back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing.

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

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