SS&C Technologies Holdings, Inc. (SSNC) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) from a buy rating to a hold rating in a research note issued to investors on Tuesday 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 research analysts have also recently issued reports about the stock. Royal Bank Of Canada reissued a buy rating and set a $41.00 price objective on shares of SS&C Technologies Holdings in a report on Wednesday, August 9th. BidaskClub cut shares of SS&C Technologies Holdings from a buy rating to a hold rating in a report on Friday, August 11th. Needham & Company LLC restated a buy rating and issued a $44.00 target price (up previously from $42.00) on shares of SS&C Technologies Holdings in a report on Sunday, July 30th. DA Davidson initiated coverage on shares of SS&C Technologies Holdings in a research report on Thursday, September 14th. They issued a buy rating and a $43.00 target price for the company. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $39.00 target price (up previously from $35.00) on shares of SS&C Technologies Holdings in a research report on Friday, July 14th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $41.75.
SS&C Technologies Holdings (SSNC) traded up 1.38% on Tuesday, hitting $41.03. 325,729 shares of the stock were exchanged. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 43.74 and a beta of 1.12. The company has a 50-day moving average of $38.47 and a 200-day moving average of $37.80. SS&C Technologies Holdings has a 12 month low of $28.43 and a 12 month high of $41.05.
SS&C Technologies Holdings (NASDAQ:SSNC) last posted its earnings results on Thursday, July 27th. The technology company reported $0.46 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate 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 business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. On average, equities analysts predict that SS&C Technologies Holdings will post $1.94 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Wednesday, August 30th. This is a boost from SS&C Technologies Holdings’s previous quarterly dividend of $0.06. SS&C Technologies Holdings’s dividend payout ratio is 29.79%.
In related news, Director Michael Jay Zamkow bought 14,275 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average cost of $36.62 per share, with a total value of $522,750.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Patrick J. Pedonti sold 30,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $38.56, for a total value of $1,156,800.00. Following the completion of the transaction, the chief financial officer now directly owns 30,000 shares in the company, valued at $1,156,800. The disclosure for this sale can be found here. In the last three months, insiders sold 90,000 shares of company stock worth $3,503,100. 17.60% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in SSNC. Janus Henderson Group PLC increased its position in SS&C Technologies Holdings by 5,137.5% in the second quarter. Janus Henderson Group PLC now owns 20,123,345 shares of the technology company’s stock worth $772,938,000 after buying an additional 19,739,127 shares in the last quarter. BlackRock Inc. raised its stake in shares of SS&C Technologies Holdings by 34,597.2% in the first quarter. BlackRock Inc. now owns 8,232,940 shares of the technology company’s stock worth $291,445,000 after buying an additional 8,209,212 shares during the period. Findlay Park Partners LLP bought a new position in shares of SS&C Technologies Holdings in the second quarter worth about $61,513,000. Geneva Advisors LLC raised its stake in shares of SS&C Technologies Holdings by 8,872.9% in the second quarter. Geneva Advisors LLC now owns 960,997 shares of the technology company’s stock worth $36,912,000 after buying an additional 950,287 shares during the period. Finally, Iridian Asset Management LLC CT raised its stake in shares of SS&C Technologies Holdings by 78.9% in the second quarter. Iridian Asset Management LLC CT now owns 1,801,105 shares of the technology company’s stock worth $69,180,000 after buying an additional 794,215 shares during the period. 86.92% of the stock is owned by institutional investors and hedge funds.
SS&C Technologies Holdings Company Profile
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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