SS&C Technologies (NASDAQ:SSNC) Rating Lowered to Buy at StockNews.com

SS&C Technologies (NASDAQ:SSNC - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Monday.

SSNC has been the subject of a number of other research reports. Royal Bank of Canada increased their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an "outperform" rating in a report on Thursday, September 19th. Raymond James lifted their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a "strong-buy" rating in a research note on Friday. DA Davidson reiterated a "buy" rating and set a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $90.00 target price on shares of SS&C Technologies in a research report on Friday. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, SS&C Technologies presently has an average rating of "Moderate Buy" and an average price target of $77.75.

SS&C Technologies Stock Up 0.1 %

Shares of SSNC traded up $0.09 during mid-day trading on Monday, reaching $70.13. 1,895,963 shares of the stock traded hands, compared to its average volume of 1,049,715. The stock has a fifty day simple moving average of $74.32 and a 200 day simple moving average of $67.85. SS&C Technologies has a 12-month low of $48.65 and a 12-month high of $77.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of 27.94 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.62%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 EPS. Sell-side analysts expect that SS&C Technologies will post 4.66 EPS for the current fiscal year.

SS&C Technologies declared that its Board of Directors has initiated a share buyback program on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at SS&C Technologies

In related news, Director Smita Conjeevaram sold 48,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the sale, the director now owns 9,576 shares of the company's stock, valued at approximately $678,172.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Michael Jay Zamkow sold 19,000 shares of SS&C Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the sale, the director now owns 22,576 shares of the company's stock, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now directly owns 9,576 shares of the company's stock, valued at $678,172.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock worth $44,821,055 over the last ninety days. Company insiders own 15.40% of the company's stock.

Institutional Trading of SS&C Technologies

Hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC raised its stake in shares of SS&C Technologies by 76.8% during the first quarter. Quent Capital LLC now owns 396 shares of the technology company's stock valued at $25,000 after purchasing an additional 172 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of SS&C Technologies in the 2nd quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in SS&C Technologies in the second quarter worth approximately $35,000. Benjamin Edwards Inc. increased its position in shares of SS&C Technologies by 43.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company's stock valued at $42,000 after purchasing an additional 204 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of SS&C Technologies by 6,300.0% in the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company's stock worth $44,000 after buying an additional 693 shares in the last quarter. Institutional investors own 96.95% of the company's stock.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.

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