SS&C Technologies (NASDAQ:SSNC) Cut to “Strong Sell” at Zacks Research

SS&C Technologies (NASDAQ:SSNC) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday, Zacks reports.

SSNC has been the subject of a number of other research reports. BWS Financial reissued a “buy” rating on shares of SS&C Technologies in a research note on Wednesday, September 9th. Weiss Ratings raised shares of SS&C Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 25th. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, July 24th. Jefferies Financial Group lowered their price objective on shares of SS&C Technologies from $92.00 to $83.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating for the company in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.62.

SS&C Technologies Stock Performance

Shares of SSNC opened at $87.09 on Tuesday. SS&C Technologies has a 12-month low of $61.40 and a 12-month high of $89.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.09. The company has a market cap of $20.44 billion, a PE ratio of 25.03 and a beta of 1.09. The stock has a 50-day moving average price of $81.28 and a 200-day moving average price of $73.49.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, July 23rd. The technology company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.08. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.66 billion. SS&C Technologies had a net margin of 13.16% and a return on equity of 21.20%. SS&C Technologies’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.45 earnings per share. As a group, equities analysts forecast that SS&C Technologies will post 6.26 earnings per share for the current fiscal year.

Institutional Trading of SS&C Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in SS&C Technologies during the 3rd quarter valued at $104,000. E. Ohman J or Asset Management AB boosted its position in SS&C Technologies by 33.9% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 7,116 shares of the technology company’s stock valued at $548,000 after buying an additional 1,800 shares during the period. Vest Financial LLC grew its holdings in SS&C Technologies by 0.8% in the 3rd quarter. Vest Financial LLC now owns 28,958 shares of the technology company’s stock worth $2,232,000 after acquiring an additional 227 shares during the last quarter. Axxcess Wealth Management LLC bought a new stake in SS&C Technologies in the 3rd quarter worth $224,000. Finally, Nisa Investment Advisors LLC grew its holdings in SS&C Technologies by 47.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,660 shares of the technology company’s stock worth $899,000 after acquiring an additional 3,775 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

About SS&C Technologies

SS&C Technologies Holdings, Inc is a global provider of software and technology-enabled services for the financial services and healthcare industries. The company helps investment firms, banks, insurers, corporations and healthcare organizations manage operations, data, reporting and regulatory requirements through integrated technology platforms and outsourced services.

Its financial services offerings support areas including investment and fund accounting, portfolio and wealth management, trading and risk management, alternative investments, private markets, transfer agency, fund administration and investor communications.