SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 2,980,337 shares, a drop of 39.3% from the January 12th total of 4,913,529 shares. Based on an average trading volume of 2,120,274 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.7% of the company’s shares are sold short.
In related news, CFO Patrick J. Pedonti sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $49.73, for a total transaction of $994,600.00. Following the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $994,600. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 60,000 shares of company stock worth $2,616,200. 17.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SSNC. Advisor Group Inc. lifted its holdings in SS&C Technologies by 14.3% in the 2nd quarter. Advisor Group Inc. now owns 2,780 shares of the technology company’s stock worth $106,000 after buying an additional 348 shares during the period. YorkBridge Wealth Partners LLC purchased a new position in shares of SS&C Technologies in the 4th quarter valued at approximately $124,000. American International Group Inc. purchased a new position in shares of SS&C Technologies in the 4th quarter valued at approximately $164,000. QS Investors LLC lifted its stake in shares of SS&C Technologies by 165.7% in the 2nd quarter. QS Investors LLC now owns 4,810 shares of the technology company’s stock valued at $185,000 after purchasing an additional 3,000 shares during the period. Finally, ProShare Advisors LLC purchased a new position in shares of SS&C Technologies in the 2nd quarter valued at approximately $240,000. Institutional investors and hedge funds own 86.62% of the company’s stock.
Shares of SS&C Technologies (NASDAQ:SSNC) opened at $48.48 on Tuesday. SS&C Technologies has a fifty-two week low of $32.27 and a fifty-two week high of $51.39. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $9,980.00, a P/E ratio of 46.17, a price-to-earnings-growth ratio of 1.52 and a beta of 1.32.
Several equities analysts recently issued reports on the company. Zacks Investment Research lowered SS&C Technologies from a “buy” rating to a “hold” rating and set a $54.00 price target on the stock. in a research report on Saturday, January 20th. UBS Group increased their price objective on SS&C Technologies from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. William Blair cut SS&C Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 16th. Royal Bank of Canada increased their price objective on SS&C Technologies to $60.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. Finally, DA Davidson increased their price objective on SS&C Technologies to $54.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. SS&C Technologies presently has an average rating of “Buy” and a consensus price target of $49.55.
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SS&C Technologies Company Profile
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.
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