SS&C Technologies (NASDAQ:SSNC) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. They currently have $72.00 target price on the technology company’s stock.

According to Zacks, “SS&C Technologies Holdings, Inc. delivers investment and financial management software and related services focused exclusively on the financial services industry. The Company provides a broad range of specialized software, software enabled-services and software as a service (SaaS) solutions for operational excellence. SS&C Technologies delivers mission-critical processing for information management, analysis, trading, accounting, reporting and compliance. The Company serves clients in the following market verticals: 1) insurance entities and pension funds, 2) institutional asset management, 3) alternative investment management 4) treasury, banks and credit unions, 5) municipal finance, 6) real estate property management, 7) commercial lending, and 8) financial markets. SS&C Technologies Holdings, Inc. is headquartered in Windsor, CT and has offices throughout North America, Europe, Asia, and Australia. “

A number of other equities research analysts have also weighed in on the stock. Credit Suisse Group lifted their target price on shares of SS&C Technologies from $60.00 to $65.00 and gave the company an outperform rating in a research note on Wednesday, July 29th. BidaskClub raised shares of SS&C Technologies from a sell rating to a hold rating in a research report on Tuesday, June 23rd. Rosenblatt Securities restated a buy rating and issued a $64.00 price objective on shares of SS&C Technologies in a report on Monday, July 27th. JPMorgan Chase & Co. lifted their target price on shares of SS&C Technologies from $73.00 to $78.00 and gave the company an overweight rating in a report on Wednesday, July 29th. Finally, Royal Bank of Canada restated a buy rating and issued a $68.00 price target on shares of SS&C Technologies in a research note on Thursday, July 30th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. SS&C Technologies presently has an average rating of Buy and an average price target of $67.73.

Shares of SSNC opened at $64.53 on Wednesday. The firm’s 50-day moving average price is $61.91 and its 200-day moving average price is $57.35. The firm has a market capitalization of $16.62 billion, a price-to-earnings ratio of 33.79 and a beta of 1.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.29. SS&C Technologies has a 1-year low of $29.51 and a 1-year high of $66.74.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Tuesday, July 28th. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.14. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. SS&C Technologies had a net margin of 10.85% and a return on equity of 20.10%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. On average, research analysts forecast that SS&C Technologies will post 3.88 EPS for the current fiscal year.

In other SS&C Technologies news, SVP Joseph J. Frank sold 1,629 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $61.00, for a total transaction of $99,369.00. Following the sale, the senior vice president now directly owns 2,111 shares in the company, valued at approximately $128,771. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan E. Michael bought 472 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were acquired at an average price of $58.19 per share, for a total transaction of $27,465.68. Following the completion of the purchase, the director now owns 42,500 shares in the company, valued at approximately $2,473,075. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 234,129 shares of company stock worth $14,695,451. Company insiders own 14.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SSNC. Public Employees Retirement Association of Colorado boosted its stake in shares of SS&C Technologies by 1.4% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 287,979 shares of the technology company’s stock worth $12,619,000 after buying an additional 4,017 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of SS&C Technologies by 7.2% in the 1st quarter. Principal Financial Group Inc. now owns 29,260 shares of the technology company’s stock worth $1,282,000 after buying an additional 1,974 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of SS&C Technologies by 23.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 171,513 shares of the technology company’s stock worth $7,516,000 after buying an additional 32,807 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of SS&C Technologies by 5.9% in the 1st quarter. Geode Capital Management LLC now owns 2,565,587 shares of the technology company’s stock worth $112,326,000 after buying an additional 143,259 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of SS&C Technologies by 15.5% in the 1st quarter. Mackenzie Financial Corp now owns 4,873 shares of the technology company’s stock worth $214,000 after buying an additional 655 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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-to-back-office operations, performance and risk analytics, regulatory reporting, and healthcare information processes.

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