SS&C Technologies (NASDAQ:SSNC) Rating Lowered to Strong Sell at Zacks Research

SS&C Technologies (NASDAQ:SSNC) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday, Zacks reports.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Jefferies Financial Group decreased their target price on SS&C Technologies from $92.00 to $83.00 and set a “buy” rating for the company in a report on Monday, July 20th. Weiss Ratings raised SS&C Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. Royal Bank Of Canada raised their price target on SS&C Technologies from $92.00 to $101.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Finally, BWS Financial reiterated a “buy” rating on shares of SS&C Technologies in a report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.62.

SS&C Technologies Stock Up 0.2%

Shares of NASDAQ:SSNC opened at $87.09 on Tuesday. The stock’s 50-day moving average is $81.28 and its 200 day moving average is $73.49. The company has a market cap of $20.44 billion, a PE ratio of 25.03 and a beta of 1.09. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.06 and a quick ratio of 1.06. SS&C Technologies has a 1 year low of $61.40 and a 1 year high of $89.93.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, July 23rd. The technology company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.08. SS&C Technologies had a return on equity of 21.20% and a net margin of 13.16%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the business posted $1.45 EPS. The business’s revenue was up 10.3% on a year-over-year basis. Sell-side analysts anticipate that SS&C Technologies will post 6.26 EPS for the current year.

Institutional Trading of SS&C Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SSNC. ZWJ Investment Counsel Inc. boosted its position in SS&C Technologies by 6.7% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 495,122 shares of the technology company’s stock valued at $38,159,000 after acquiring an additional 30,907 shares in the last quarter. Skylands Capital LLC grew its holdings in shares of SS&C Technologies by 71.6% during the 1st quarter. Skylands Capital LLC now owns 138,475 shares of the technology company’s stock worth $9,357,000 after acquiring an additional 57,775 shares during the period. Andra AP fonden grew its holdings in shares of SS&C Technologies by 56.9% during the 2nd quarter. Andra AP fonden now owns 331,000 shares of the technology company’s stock worth $20,539,000 after acquiring an additional 120,100 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of SS&C Technologies in the 2nd quarter worth approximately $15,709,000. Finally, GSA Capital Partners LLP bought a new position in shares of SS&C Technologies in the 2nd quarter worth approximately $1,380,000. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

About SS&C Technologies

SS&C Technologies Holdings, Inc is a global provider of software and technology-enabled services for the financial services and healthcare industries. The company helps investment firms, banks, insurers, corporations and healthcare organizations manage operations, data, reporting and regulatory requirements through integrated technology platforms and outsourced services.

Its financial services offerings support areas including investment and fund accounting, portfolio and wealth management, trading and risk management, alternative investments, private markets, transfer agency, fund administration and investor communications.