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

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

Other equities analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research report on Friday, October 25th. Royal Bank of Canada boosted their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. DA Davidson reissued a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Finally, Raymond James raised 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 equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.75.

SS&C Technologies Stock Down 1.1 %

Shares of NASDAQ SSNC traded down $0.83 during mid-day trading on Friday, reaching $73.40. The company had a trading volume of 1,530,169 shares, compared to its average volume of 1,081,484. The company has a market capitalization of $18.18 billion, a price-to-earnings ratio of 26.31 and a beta of 1.39. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a fifty day moving average of $74.03 and a two-hundred day moving average of $68.90. SS&C Technologies has a 12-month low of $54.44 and a 12-month high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 earnings per share. As a group, equities research analysts expect that SS&C Technologies will post 4.62 EPS for the current year.

SS&C Technologies declared that its Board of Directors has approved a stock repurchase 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 repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the transaction, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at $4,215,359.46. This trade represents a 87.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the sale, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. The trade was a 45.70 % 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 in the last three months. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SSNC. Swedbank AB acquired a new stake in shares of SS&C Technologies in the 1st quarter valued at approximately $94,939,000. Millennium Management LLC boosted its stake in shares of SS&C Technologies by 49.2% during the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock worth $213,070,000 after acquiring an additional 1,120,961 shares during the period. Janus Henderson Group PLC increased its holdings in shares of SS&C Technologies by 5.4% during the 3rd quarter. Janus Henderson Group PLC now owns 16,059,475 shares of the technology company’s stock worth $1,191,774,000 after acquiring an additional 817,501 shares during the last quarter. AQR Capital Management LLC lifted its holdings in SS&C Technologies by 82.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,267,057 shares of the technology company’s stock valued at $78,900,000 after purchasing an additional 571,334 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of SS&C Technologies by 111.1% in the first quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock valued at $68,975,000 after purchasing an additional 564,017 shares during the last quarter. 96.95% of the stock is owned by institutional investors and hedge funds.

About SS&C Technologies

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.