SS&C Technologies Holdings, Inc. (SSNC) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) from a buy rating to a hold rating in a research note published on Wednesday morning.
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. “
Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of SS&C Technologies Holdings from a strong-buy rating to a buy rating in a report on Friday, August 4th. Royal Bank Of Canada reaffirmed a buy rating and issued a $41.00 target price on shares of SS&C Technologies Holdings in a report on Wednesday, August 9th. Needham & Company LLC reaffirmed a buy rating and issued a $44.00 target price (up from $42.00) on shares of SS&C Technologies Holdings in a report on Sunday, July 30th. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $39.00 target price (up from $35.00) on shares of SS&C Technologies Holdings in a report on Friday, July 14th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $41.25.
SS&C Technologies Holdings (NASDAQ:SSNC) traded down 0.03% during mid-day trading on Wednesday, hitting $38.70. 682,634 shares of the stock traded hands. The company has a 50 day moving average of $38.47 and a 200-day moving average of $37.26. The stock has a market cap of $7.94 billion, a PE ratio of 41.26 and a beta of 1.15. SS&C Technologies Holdings has a 12-month low of $28.43 and a 12-month high of $40.21.
SS&C Technologies Holdings (NASDAQ:SSNC) last announced its earnings results on Thursday, July 27th. The technology company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. The business had revenue of $414.10 million for the quarter, compared to analysts’ expectations of $413.33 million. SS&C Technologies Holdings had a net margin of 12.17% and a return on equity of 14.90%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. Equities research analysts forecast that SS&C Technologies Holdings will post $1.94 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.07 dividend. This is a boost from SS&C Technologies Holdings’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.72%. The ex-dividend date is Wednesday, August 30th. SS&C Technologies Holdings’s payout ratio is currently 29.79%.
In other SS&C Technologies Holdings news, CFO Patrick J. Pedonti sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $37.83, for a total value of $1,134,900.00. Following the transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $1,134,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Jay Zamkow acquired 14,275 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was purchased at an average cost of $36.62 per share, for a total transaction of $522,750.50. The disclosure for this purchase can be found here. Insiders own 17.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC boosted its position in shares of SS&C Technologies Holdings by 7.6% in the fourth quarter. Teachers Advisors LLC now owns 150,678 shares of the technology company’s stock valued at $4,309,000 after buying an additional 10,642 shares in the last quarter. First Mercantile Trust Co. boosted its position in shares of SS&C Technologies Holdings by 197.4% in the first quarter. First Mercantile Trust Co. now owns 3,051 shares of the technology company’s stock valued at $108,000 after buying an additional 2,025 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of SS&C Technologies Holdings by 33.4% in the first quarter. Russell Investments Group Ltd. now owns 793,862 shares of the technology company’s stock valued at $28,107,000 after buying an additional 198,607 shares in the last quarter. Geneva Advisors LLC purchased a new position in shares of SS&C Technologies Holdings during the first quarter valued at about $379,000. Finally, Great West Life Assurance Co. Can boosted its position in shares of SS&C Technologies Holdings by 13.4% in the first quarter. Great West Life Assurance Co. Can now owns 20,356 shares of the technology company’s stock valued at $720,000 after buying an additional 2,400 shares in the last quarter. 86.91% of the stock is currently owned by institutional investors.
About SS&C Technologies Holdings
SS&C Technologies Holdings, Inc is a holding company. The Company is a provider of software products and software-enabled services that allow financial services providers to automate complex business processes and manage their information processing requirements. The Company’s portfolio of software products and software-enabled services allows its clients to automate and integrate front-office functions, such as trading and modeling, middle-office functions, such as portfolio management and reporting, and back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing.
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