Morgan Stanley Boosts SS&C Technologies Holdings, Inc. (SSNC) Price Target to $44.00

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) had its price target upped by equities researchers at Morgan Stanley from $42.00 to $44.00 in a report released on Thursday, October 26th. The brokerage presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s target price would indicate a potential upside of 10.39% from the stock’s previous close.

A number of other equities research analysts also recently commented on SSNC. Royal Bank Of Canada reiterated a “buy” rating and issued a $41.00 price objective on shares of SS&C Technologies Holdings in a report on Wednesday, August 9th. BidaskClub downgraded SS&C Technologies Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research raised SS&C Technologies Holdings from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “buy” rating on shares of SS&C Technologies Holdings in a research report on Tuesday, October 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $44.00 price target (up from $42.00) on shares of SS&C Technologies Holdings in a report on Sunday, July 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $42.11.

Shares of SS&C Technologies Holdings (NASDAQ SSNC) opened at $39.86 on Thursday. SS&C Technologies Holdings has a 1-year low of $28.43 and a 1-year high of $42.48. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $8,205.61, a PE ratio of 22.78, a PEG ratio of 1.52 and a beta of 1.09.

SS&C Technologies Holdings (NASDAQ:SSNC) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $419.60 million for the quarter, compared to analysts’ expectations of $424.14 million. SS&C Technologies Holdings had a return on equity of 15.32% and a net margin of 13.47%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. sell-side analysts anticipate that SS&C Technologies Holdings will post 1.78 earnings per share for the current year.

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In related news, CFO Patrick J. Pedonti sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $39.65, for a total value of $793,000.00. Following the completion of the sale, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at approximately $793,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Patrick J. Pedonti sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at $1,134,900. The disclosure for this sale can be found here. Insiders have sold a total of 110,000 shares of company stock worth $4,296,100 over the last ninety days. Company insiders own 17.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Independent Portfolio Consultants Inc. increased its holdings in SS&C Technologies Holdings by 11.4% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,712 shares of the technology company’s stock worth $104,000 after purchasing an additional 277 shares in the last quarter. Advisor Group Inc. grew its holdings in shares of SS&C Technologies Holdings by 14.3% in the second quarter. Advisor Group Inc. now owns 2,780 shares of the technology company’s stock valued at $106,000 after acquiring an additional 348 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in shares of SS&C Technologies Holdings by 25.6% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,050 shares of the technology company’s stock valued at $117,000 after acquiring an additional 622 shares in the last quarter. SG Americas Securities LLC purchased a new position in SS&C Technologies Holdings in the first quarter valued at approximately $119,000. Finally, Global X Management Co. LLC lifted its stake in SS&C Technologies Holdings by 24.6% in the first quarter. Global X Management Co. LLC now owns 3,404 shares of the technology company’s stock valued at $121,000 after purchasing an additional 672 shares during the last quarter. 87.91% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for SS&C Technologies Holdings (NASDAQ:SSNC)

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