SS&C Technologies (NASDAQ:SSNC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, January 6th.
A number of other research firms also recently commented on SSNC. Morgan Stanley lifted their target price on shares of SS&C Technologies from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Zacks Investment Research raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Saturday, January 6th. UBS Group reaffirmed a “buy” rating and issued a $49.00 target price on shares of SS&C Technologies in a research report on Thursday, December 14th. JPMorgan Chase & Co. downgraded shares of SS&C Technologies from an “overweight” rating to a “neutral” rating and set a $49.00 target price for the company. in a research report on Tuesday, December 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of SS&C Technologies in a research report on Friday, October 27th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $48.82.
Shares of SS&C Technologies (NASDAQ:SSNC) opened at $48.48 on Friday. The firm has a market cap of $9,980.00, a P/E ratio of 46.17, a P/E/G ratio of 1.61 and a beta of 1.08. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.87. SS&C Technologies has a 1 year low of $30.82 and a 1 year high of $51.39.
In other news, CFO Patrick J. Pedonti sold 20,000 shares of SS&C Technologies stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $39.65, for a total transaction of $793,000.00. Following the transaction, the chief financial officer now owns 20,000 shares in the company, valued at approximately $793,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 60,000 shares of company stock worth $2,414,600 in the last quarter. Corporate insiders own 17.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SSNC. Janus Henderson Group PLC lifted its stake in SS&C Technologies by 5,137.5% in the 2nd quarter. Janus Henderson Group PLC now owns 20,123,345 shares of the technology company’s stock worth $772,938,000 after purchasing an additional 19,739,127 shares in the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of SS&C Technologies in the 3rd quarter worth about $64,532,000. Findlay Park Partners LLP bought a new stake in shares of SS&C Technologies in the 2nd quarter worth about $61,513,000. Atlantic Trust Group LLC bought a new stake in shares of SS&C Technologies in the 3rd quarter worth about $55,411,000. Finally, Koch Industries Inc. bought a new stake in shares of SS&C Technologies in the 2nd quarter worth about $719,000. Institutional investors and hedge funds own 86.04% of the company’s stock.
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About SS&C Technologies
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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