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

by · The Markets Daily

StockNews.com downgraded shares of SS&C Technologies (NASDAQ:SSNC – Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.

A number of other research analysts also recently issued reports on SSNC. Royal Bank of Canada upped their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research report on Friday, October 25th. DA Davidson reiterated a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Finally, Raymond James lifted their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $77.75.

View Our Latest Stock Report on SS&C Technologies

SS&C Technologies Stock Down 1.1 %

NASDAQ:SSNC traded down $0.83 during trading hours on Friday, reaching $73.40. The company had a trading volume of 1,564,268 shares, compared to its average volume of 1,081,484. SS&C Technologies has a twelve month low of $54.44 and a twelve month high of $77.02. The firm has a market cap of $18.18 billion, a price-to-earnings ratio of 26.31 and a beta of 1.39. The business’s 50-day simple moving average is $74.03 and its two-hundred day simple moving average is $68.90. 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 (NASDAQ:SSNC – Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm posted $1.04 EPS. SS&C Technologies’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts expect that SS&C Technologies will post 4.62 earnings per share for the current year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio is currently 35.84%.

SS&C Technologies announced that its Board of Directors has approved a share repurchase program on Thursday, July 25th that allows the company to repurchase $1.00 billion in 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 Activity at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the transaction, the director now directly owns 22,576 shares in the company, valued at $1,715,098.72. The trade was a 45.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the transaction, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The trade was a 87.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 561,190 shares of company stock worth $41,386,285 over the last quarter. Corporate insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in shares of SS&C Technologies in the 2nd quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of SS&C Technologies in the second quarter worth $35,000. Benjamin Edwards Inc. raised its holdings in SS&C Technologies by 43.3% during the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after acquiring an additional 204 shares during the period. Versant Capital Management Inc lifted its holdings in 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 purchasing an additional 693 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of SS&C Technologies in the second quarter worth $47,000. Institutional investors own 96.95% of the company’s stock.

About SS&C Technologies

(Get Free Report)

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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