SS&C Technologies (NASDAQ:SSNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “SS&C Technologies Holdings, Inc. delivers investment and financial management software and related services focused exclusively on the financial services industry. The Company provides a broad range of specialized software, software enabled-services and software as a service (SaaS) solutions for operational excellence. SS&C Technologies delivers mission-critical processing for information management, analysis, trading, accounting, reporting and compliance. The Company serves clients in the following market verticals: 1) insurance entities and pension funds, 2) institutional asset management, 3) alternative investment management 4) treasury, banks and credit unions, 5) municipal finance, 6) real estate property management, 7) commercial lending, and 8) financial markets. SS&C Technologies Holdings, Inc. is headquartered in Windsor, CT and has offices throughout North America, Europe, Asia, and Australia. “
Several other research analysts also recently weighed in on SSNC. BidaskClub raised SS&C Technologies from a “sell” rating to a “hold” rating in a research note on Friday, December 28th. DA Davidson raised SS&C Technologies from a “neutral” rating to a “buy” rating in a research note on Friday, November 16th. Raymond James increased their price objective on SS&C Technologies from $67.00 to $68.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 20th. Needham & Company LLC raised SS&C Technologies from a “buy” rating to a “strong-buy” rating and increased their price objective for the company from $68.00 to $70.00 in a research note on Friday, December 7th. Finally, Evercore ISI assumed coverage on SS&C Technologies in a research note on Thursday, November 29th. They issued a “buy” rating and a $74.00 price objective for the company. One analyst has rated the stock with a hold rating, twelve have given a buy rating and four have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $66.27.
SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, February 14th. The technology company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. SS&C Technologies had a return on equity of 16.27% and a net margin of 3.01%. The business’s quarterly revenue was up 157.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 EPS. On average, sell-side analysts forecast that SS&C Technologies will post 3.6 earnings per share for the current fiscal year.
In other SS&C Technologies news, CFO Patrick J. Pedonti sold 157,500 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $59.41, for a total value of $9,357,075.00. Following the completion of the sale, the chief financial officer now directly owns 57,500 shares in the company, valued at approximately $3,416,075. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 17.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in SS&C Technologies in the 4th quarter valued at $108,590,000. O Brien Greene & Co. Inc purchased a new stake in SS&C Technologies in the 4th quarter valued at $226,000. Nordea Investment Management AB grew its holdings in SS&C Technologies by 259.7% in the 4th quarter. Nordea Investment Management AB now owns 782,368 shares of the technology company’s stock valued at $35,293,000 after buying an additional 564,851 shares in the last quarter. Psagot Investment House Ltd. grew its holdings in SS&C Technologies by 38.5% in the 4th quarter. Psagot Investment House Ltd. now owns 105,270 shares of the technology company’s stock valued at $4,749,000 after buying an additional 29,250 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in SS&C Technologies by 57.5% in the 4th quarter. Amalgamated Bank now owns 45,676 shares of the technology company’s stock valued at $2,060,000 after buying an additional 16,679 shares in the last quarter. Institutional investors own 83.47% of the company’s stock.
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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