DA Davidson lowered shares of SS&C Technologies (NASDAQ:SSNC) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, BenzingaRatingsTable reports.
A number of other research analysts have also recently issued reports on the company. BidaskClub raised SS&C Technologies from a buy rating to a strong-buy rating in a report on Saturday, July 27th. Zacks Investment Research cut SS&C Technologies from a buy rating to a hold rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of SS&C Technologies in a report on Monday, July 1st. Credit Suisse Group lifted their price target on SS&C Technologies from $68.00 to $75.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Finally, UBS Group lifted their price target on SS&C Technologies from $75.00 to $80.00 and gave the company a buy rating in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $68.64.
Shares of NASDAQ:SSNC traded down $1.16 on Tuesday, hitting $45.63. The stock had a trading volume of 1,800,860 shares, compared to its average volume of 1,814,671. SS&C Technologies has a twelve month low of $40.96 and a twelve month high of $67.73. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.77. The company has a 50 day moving average of $57.66. The company has a market cap of $11.67 billion, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27.
In other SS&C Technologies news, SVP Joseph J. Frank sold 10,141 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $59.89, for a total transaction of $607,344.49. Following the completion of the sale, the senior vice president now directly owns 9,910 shares of the company’s stock, valued at approximately $593,509.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in SS&C Technologies by 2.9% during the 1st quarter. Janus Henderson Group PLC now owns 19,743,165 shares of the technology company’s stock worth $1,257,446,000 after purchasing an additional 558,026 shares during the last quarter. BlackRock Inc. raised its holdings in SS&C Technologies by 3.7% during the 1st quarter. BlackRock Inc. now owns 11,908,811 shares of the technology company’s stock worth $758,472,000 after purchasing an additional 421,360 shares during the last quarter. FMR LLC raised its holdings in SS&C Technologies by 33.3% during the 1st quarter. FMR LLC now owns 6,744,444 shares of the technology company’s stock worth $429,553,000 after purchasing an additional 1,686,693 shares during the last quarter. Cantillon Capital Management LLC raised its holdings in SS&C Technologies by 20.0% during the 2nd quarter. Cantillon Capital Management LLC now owns 4,262,655 shares of the technology company’s stock worth $245,572,000 after purchasing an additional 711,514 shares during the last quarter. Finally, Norges Bank bought a new stake in SS&C Technologies during the 4th quarter worth about $108,590,000. 82.69% of the stock is owned by hedge funds and other institutional investors.
SS&C Technologies Company Profile
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.
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