SS&C Technologies (SSNC) Shares Gap Down on Analyst Downgrade

SS&C Technologies (SSNC) Shares Gap Down  on Analyst Downgrade

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) gapped down before the market opened on Wednesday after Zacks Investment Research downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $46.15, but opened at $45.11. SS&C Technologies shares last traded at $44.42, with a volume of 2159089 shares.

Several other brokerages have also recently weighed in on SSNC. ValuEngine raised SS&C Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. DA Davidson cut SS&C Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $62.00 to $60.00 in a report on Friday, September 7th. Deutsche Bank raised SS&C Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $72.00 in a report on Monday, September 10th. BidaskClub cut SS&C Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, JPMorgan Chase & Co. set a $70.00 price objective on SS&C Technologies and gave the company a “buy” rating in a report on Thursday, November 1st. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $64.29.

In other SS&C Technologies news, Director Michael Jay Zamkow purchased 22,100 shares of the stock in a transaction dated Thursday, November 15th. The stock was bought at an average price of $47.53 per share, with a total value of $1,050,413.00. Following the acquisition, the director now owns 21,000 shares of the company’s stock, valued at $998,130. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan E. Michael purchased 10,000 shares of the stock in a transaction dated Tuesday, November 20th. The shares were acquired at an average cost of $44.58 per share, with a total value of $445,800.00. The disclosure for this purchase can be found here. Insiders have bought a total of 35,798 shares of company stock valued at $1,675,881 in the last three months. 17.50% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. FMR LLC raised its holdings in shares of SS&C Technologies by 51.7% during the 2nd quarter. FMR LLC now owns 7,779,276 shares of the technology company’s stock worth $403,744,000 after buying an additional 2,650,392 shares in the last quarter. DNB Asset Management AS raised its holdings in shares of SS&C Technologies by 9.0% during the 3rd quarter. DNB Asset Management AS now owns 19,342 shares of the technology company’s stock worth $1,099,000 after buying an additional 1,600 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of SS&C Technologies by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,114,515 shares of the technology company’s stock worth $57,844,000 after buying an additional 12,682 shares in the last quarter. First Hawaiian Bank acquired a new position in shares of SS&C Technologies during the 3rd quarter worth $851,000. Finally, Autus Asset Management LLC raised its holdings in shares of SS&C Technologies by 10.9% during the 3rd quarter. Autus Asset Management LLC now owns 47,133 shares of the technology company’s stock worth $2,679,000 after buying an additional 4,618 shares in the last quarter. 80.02% of the stock is owned by institutional investors.

The stock has a market capitalization of $11.31 billion, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 0.97 and a beta of 1.14. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.57.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Wednesday, October 31st. The technology company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. The business had revenue of $992.40 million for the quarter, compared to analyst estimates of $1 billion. SS&C Technologies had a return on equity of 15.04% and a net margin of 7.61%. SS&C Technologies’s quarterly revenue was up 137.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. Equities analysts forecast that SS&C Technologies Holdings, Inc. will post 2.53 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Saturday, December 1st were given a dividend of $0.08 per share. The ex-dividend date was Thursday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.74%. SS&C Technologies’s dividend payout ratio is currently 17.88%.

About SS&C Technologies (NASDAQ:SSNC)

SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its 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, performance measurement, reconciliation, reporting, processing, and clearing.

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