Needham & Company LLC Reiterates Buy Rating for SS&C Technologies Holdings, Inc. (SSNC)

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research note issued on Friday, October 27th.

A number of other equities research analysts also recently weighed in on SSNC. DA Davidson reiterated a “buy” rating and set a $44.00 price target on shares of SS&C Technologies Holdings in a research note on Thursday, October 26th. Morgan Stanley lifted their price target on shares of SS&C Technologies Holdings from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Jefferies Group LLC reiterated a “buy” rating on shares of SS&C Technologies Holdings in a research note on Tuesday, October 3rd. Zacks Investment Research cut SS&C Technologies Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, BidaskClub cut SS&C Technologies Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $42.11.

SS&C Technologies Holdings (SSNC) opened at $39.77 on Friday. SS&C Technologies Holdings has a 52-week low of $28.43 and a 52-week high of $42.48. The company has a market cap of $8,205.61, a P/E ratio of 22.78, a PEG ratio of 1.52 and a beta of 1.09. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.96 and a quick ratio of 0.96.

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

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In other SS&C Technologies Holdings news, CFO Patrick J. Pedonti sold 30,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $40.38, for a total transaction of $1,211,400.00. Following the completion of the sale, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $1,211,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at $793,000. The disclosure for this sale can be found here. Insiders sold 80,000 shares of company stock valued at $3,161,200 over the last ninety days. 17.60% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. State Street Corp grew its position in shares of SS&C Technologies Holdings by 20.9% during the 2nd quarter. State Street Corp now owns 3,012,292 shares of the technology company’s stock worth $115,706,000 after buying an additional 521,727 shares during the period. Tredje AP fonden acquired a new position in shares of SS&C Technologies Holdings during the 2nd quarter worth about $263,000. Green Square Capital LLC acquired a new position in shares of SS&C Technologies Holdings during the 2nd quarter worth about $257,000. GW&K Investment Management LLC grew its position in shares of SS&C Technologies Holdings by 24.7% during the 2nd quarter. GW&K Investment Management LLC now owns 502,382 shares of the technology company’s stock worth $19,296,000 after buying an additional 99,585 shares during the period. Finally, Bank of Montreal Can grew its position in shares of SS&C Technologies Holdings by 302.7% during the 2nd quarter. Bank of Montreal Can now owns 10,961 shares of the technology company’s stock worth $421,000 after buying an additional 8,239 shares during the period. 87.91% of the stock is owned by hedge funds and other institutional investors.

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.

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

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