SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Sees Large Decline in Short Interest

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 3,830,000 shares, a decline of 20.5% from the June 30th total of 4,820,000 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is presently 2.5 days.

Shares of SSNC opened at $57.50 on Friday. The firm has a market capitalization of $14.73 billion, a price-to-earnings ratio of 30.10 and a beta of 1.49. The stock’s fifty day moving average is $56.68 and its 200-day moving average is $55.55. SS&C Technologies has a one year low of $29.51 and a one year high of $66.74. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.06 and a current ratio of 1.06.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Tuesday, July 28th. The technology company reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.14. SS&C Technologies had a return on equity of 20.41% and a net margin of 10.85%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Analysts forecast that SS&C Technologies will post 3.66 EPS for the current fiscal year.

SSNC has been the subject of several research analyst reports. Zacks Investment Research upgraded SS&C Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Citigroup raised their price objective on shares of SS&C Technologies from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday. BidaskClub upgraded shares of SS&C Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. Jefferies Financial Group cut their price objective on SS&C Technologies from $61.00 to $59.00 and set a “hold” rating on the stock in a research note on Monday, May 4th. Finally, Raymond James increased their price objective on shares of SS&C Technologies from $63.00 to $67.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $66.75.

Hedge funds have recently made changes to their positions in the stock. Two Sigma Advisers LP acquired a new stake in SS&C Technologies in the 1st quarter valued at approximately $1,163,000. World Asset Management Inc acquired a new stake in shares of SS&C Technologies in the second quarter valued at approximately $229,000. Meeder Asset Management Inc. boosted its holdings in SS&C Technologies by 24.0% during the first quarter. Meeder Asset Management Inc. now owns 38,021 shares of the technology company’s stock worth $1,664,000 after purchasing an additional 7,352 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in SS&C Technologies by 2.6% during the first quarter. Wells Fargo & Company MN now owns 549,704 shares of the technology company’s stock worth $24,088,000 after purchasing an additional 13,873 shares during the last quarter. Finally, Invesco Ltd. grew its position in SS&C Technologies by 143.5% in the first quarter. Invesco Ltd. now owns 347,248 shares of the technology company’s stock valued at $15,216,000 after purchasing an additional 204,650 shares in the last quarter. 81.20% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Trade War

Receive News & Ratings for SS&C Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SS&C Technologies and related companies with MarketBeat.com's FREE daily email newsletter.