SS&C Technologies (SSNC) Trading Up 5.3% on Insider Buying Activity

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was up 5.3% during mid-day trading on Wednesday following insider buying activity. The stock traded as high as $52.14 and last traded at $52.01. Approximately 1,214,922 shares changed hands during trading, a decline of 26% from the average daily volume of 1,631,407 shares. The stock had previously closed at $49.41.

Specifically, Director Jonathan E. Michael bought 600 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were bought at an average price of $49.79 per share, for a total transaction of $29,874.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 17.50% of the stock is owned by corporate insiders.

A number of equities analysts recently commented on SSNC shares. Sandler O’Neill restated a “buy” rating and issued a $62.00 price objective on shares of SS&C Technologies in a report on Monday, July 23rd. Zacks Investment Research downgraded SS&C Technologies from a “hold” rating to a “sell” rating in a report on Friday, July 27th. BidaskClub downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. JPMorgan Chase & Co. started coverage on SS&C Technologies in a report on Wednesday, August 1st. They issued an “overweight” rating and a $70.00 price objective on the stock. Finally, Needham & Company LLC increased their price objective on SS&C Technologies to $68.00 and gave the stock a “buy” rating in a report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $63.00.

The firm has a market capitalization of $12.15 billion, a P/E ratio of 29.06, a P/E/G ratio of 1.50 and a beta of 1.25. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.63.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Wednesday, October 31st. The technology company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.74 by $0.05. SS&C Technologies had a return on equity of 16.18% and a net margin of 7.61%. The company had revenue of $992.40 million for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 137.3% compared to the same quarter last year. As a group, equities research analysts forecast that SS&C Technologies Holdings, Inc. will post 2.52 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in SSNC. DnB Asset Management AS grew its holdings in SS&C Technologies by 16.4% during the second quarter. DnB Asset Management AS now owns 17,742 shares of the technology company’s stock valued at $921,000 after purchasing an additional 2,500 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in SS&C Technologies by 96.2% during the second quarter. IFM Investors Pty Ltd now owns 8,908 shares of the technology company’s stock valued at $462,000 after purchasing an additional 4,368 shares during the last quarter. CENTRAL TRUST Co grew its holdings in SS&C Technologies by 3,755.1% during the second quarter. CENTRAL TRUST Co now owns 3,778 shares of the technology company’s stock valued at $196,000 after purchasing an additional 3,680 shares during the last quarter. Capital Investment Services of America Inc. grew its holdings in SS&C Technologies by 18.1% during the second quarter. Capital Investment Services of America Inc. now owns 259,796 shares of the technology company’s stock valued at $13,483,000 after purchasing an additional 39,800 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in SS&C Technologies by 60.0% during the second quarter. State of Alaska Department of Revenue now owns 25,050 shares of the technology company’s stock valued at $1,299,000 after purchasing an additional 9,390 shares during the last quarter. Institutional investors own 86.77% of the company’s stock.

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SS&C Technologies Company Profile (NASDAQ:SSNC)

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.

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