SS&C Technologies (NASDAQ:SSNC) Upgraded by StockNews.com to Strong-Buy Rating

SS&C Technologies (NASDAQ:SSNC) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reduced their price target on shares of SS&C Technologies from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. DA Davidson reduced their price objective on shares of SS&C Technologies from $100.00 to $94.00 and set a “buy” rating for the company in a research report on Monday, April 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $86.00 target price (down from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. UBS Group upped their price objective on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada lifted their target price on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $91.86.

SS&C Technologies Stock Up 0.3%

Shares of NASDAQ SSNC opened at $79.51 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies has a 52-week low of $60.01 and a 52-week high of $89.73. The firm has a market cap of $19.61 billion, a price-to-earnings ratio of 26.50 and a beta of 1.24. The company’s 50-day simple moving average is $78.44 and its 200-day simple moving average is $78.79.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.03. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $1.28 earnings per share. SS&C Technologies’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts predict that SS&C Technologies will post 5.35 EPS for the current fiscal year.

Insider Transactions at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 23,000 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the completion of the transaction, the director now directly owns 23,200 shares in the company, valued at $2,050,648. The trade was a 49.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jason Douglas White sold 71,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total value of $6,316,160.00. Following the completion of the sale, the senior vice president now owns 6,412 shares in the company, valued at $570,411.52. This represents a 91.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,500 shares of company stock valued at $9,348,130 in the last quarter. 16.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SS&C Technologies

A number of institutional investors have recently modified their holdings of SSNC. Truist Financial Corp lifted its position in SS&C Technologies by 82.0% during the fourth quarter. Truist Financial Corp now owns 19,078 shares of the technology company’s stock worth $1,446,000 after buying an additional 8,598 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in shares of SS&C Technologies by 993.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 355,286 shares of the technology company’s stock worth $26,924,000 after acquiring an additional 322,781 shares during the last quarter. ZWJ Investment Counsel Inc. grew its holdings in SS&C Technologies by 3.5% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 330,352 shares of the technology company’s stock valued at $25,034,000 after purchasing an additional 11,077 shares during the period. Swedbank AB increased its position in SS&C Technologies by 17.5% during the fourth quarter. Swedbank AB now owns 1,753,236 shares of the technology company’s stock worth $132,860,000 after purchasing an additional 261,275 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in SS&C Technologies by 2,569.3% during the fourth quarter. Empowered Funds LLC now owns 108,054 shares of the technology company’s stock worth $8,188,000 after purchasing an additional 104,006 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

About SS&C Technologies

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.