SS&C Technologies (SSNC) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of SS&C Technologies (NASDAQ:SSNC) from a hold rating to a sell rating in a research report released on Wednesday.

A number of other analysts also recently weighed in on SSNC. JPMorgan Chase & Co. set a $70.00 target price on SS&C Technologies and gave the stock a buy rating in a research report on Thursday, November 1st. ValuEngine downgraded SS&C Technologies from a buy rating to a hold rating in a research report on Wednesday, August 8th. Zacks Investment Research downgraded SS&C Technologies from a buy rating to a hold rating in a research report on Thursday, October 4th. Sandler O’Neill restated a buy rating and issued a $64.00 target price on shares of SS&C Technologies in a research report on Friday, August 3rd. Finally, DA Davidson restated a hold rating and issued a $60.00 target price on shares of SS&C Technologies in a research report on Monday, September 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $63.00.

Shares of NASDAQ SSNC traded down $1.97 during midday trading on Wednesday, hitting $49.94. 1,001,354 shares of the company’s stock were exchanged, compared to its average volume of 1,831,501. SS&C Technologies has a 12-month low of $39.15 and a 12-month high of $60.97. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 1.53 and a beta of 1.25.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Wednesday, October 31st. The technology company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The company had revenue of $992.40 million during the quarter, compared to the consensus estimate of $1 billion. SS&C Technologies had a return on equity of 16.18% and a net margin of 7.61%. SS&C Technologies’s quarterly revenue was up 137.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. On average, analysts predict that SS&C Technologies will post 2.52 earnings per share for the current year.

In other news, Director Jonathan E. Michael purchased 600 shares of SS&C Technologies stock in a transaction that occurred on Monday, November 5th. The shares were bought at an average cost of $49.79 per share, with a total value of $29,874.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC grew its stake in SS&C Technologies by 2.4% in the second quarter. Janus Henderson Group PLC now owns 18,785,433 shares of the technology company’s stock worth $974,963,000 after purchasing an additional 432,851 shares during the period. BlackRock Inc. grew its stake in shares of SS&C Technologies by 2.8% in the third quarter. BlackRock Inc. now owns 11,363,016 shares of the technology company’s stock worth $645,761,000 after acquiring an additional 312,983 shares during the last quarter. FMR LLC grew its stake in shares of SS&C Technologies by 14.9% in the third quarter. FMR LLC now owns 8,940,435 shares of the technology company’s stock worth $508,086,000 after acquiring an additional 1,161,159 shares during the last quarter. Morgan Stanley grew its stake in shares of SS&C Technologies by 1,929.5% in the second quarter. Morgan Stanley now owns 4,228,968 shares of the technology company’s stock worth $219,484,000 after acquiring an additional 4,020,592 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of SS&C Technologies by 54.6% in the third quarter. Bank of New York Mellon Corp now owns 2,858,968 shares of the technology company’s stock worth $162,477,000 after acquiring an additional 1,010,118 shares during the last quarter. 86.77% of the stock is currently owned by institutional investors.

SS&C Technologies Company Profile

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

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