StockNews.com Upgrades SS&C Technologies (NASDAQ:SSNC) to “Strong-Buy”

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

A number of other equities analysts have also recently weighed in on SSNC. UBS Group upped their price target on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. DA Davidson reduced their target price on shares of SS&C Technologies from $100.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $70.00 to $94.00 in a research note on Monday, February 3rd. Needham & Company LLC cut their price objective on shares of SS&C Technologies from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $86.00 price objective (down from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, SS&C Technologies has a consensus rating of “Buy” and a consensus price target of $91.86.

SS&C Technologies Stock Up 0.3%

SSNC opened at $79.51 on Friday. The firm has a 50 day moving average price of $78.44 and a 200 day moving average price of $78.79. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies has a 1 year low of $60.01 and a 1 year high of $89.73. The company has a market cap of $19.61 billion, a PE ratio of 26.50 and a beta of 1.24.

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

Insider Buying and Selling at SS&C Technologies

In related news, SVP Jason Douglas White sold 71,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was 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 directly owns 6,412 shares of the company’s stock, valued at $570,411.52. The trade was a 91.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Jay Zamkow sold 23,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total value of $2,032,970.00. Following the completion of the sale, the director now owns 23,200 shares of the company’s stock, valued at $2,050,648. This trade represents a 49.78% 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 worth $9,348,130 in the last ninety days. 16.40% of the stock is owned by insiders.

Institutional Trading of SS&C Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Atwood & Palmer Inc. lifted its holdings in SS&C Technologies by 125.8% in the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company’s stock worth $25,000 after acquiring an additional 166 shares during the last quarter. Larson Financial Group LLC boosted its position in SS&C Technologies by 634.8% during the 1st quarter. Larson Financial Group LLC now owns 338 shares of the technology company’s stock valued at $28,000 after purchasing an additional 292 shares during the period. Whittier Trust Co. bought a new position in SS&C Technologies during the 1st quarter worth $29,000. N.E.W. Advisory Services LLC acquired a new stake in SS&C Technologies in the first quarter worth $29,000. Finally, Elequin Capital LP bought a new stake in SS&C Technologies in the first quarter valued at $30,000. 96.95% of the stock is owned by institutional investors and hedge funds.

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.