William Blair lowered shares of SS&C Technologies (NASDAQ:SSNC) from an outperform rating to a market perform rating in a research note released on Tuesday, January 16th, MarketBeat Ratings reports. William Blair also issued estimates for SS&C Technologies’ Q1 2018 earnings at $0.52 EPS, Q2 2018 earnings at $0.54 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $2.19 EPS.
A number of other research firms have also issued reports on SSNC. Needham & Company LLC restated a buy rating and issued a $60.00 price target (up from $44.00) on shares of SS&C Technologies in a research report on Friday, January 12th. Jefferies Group restated a buy rating on shares of SS&C Technologies in a research report on Friday, January 12th. DA Davidson upped their price objective on SS&C Technologies to $54.00 and gave the company a buy rating in a report on Friday, January 12th. Royal Bank of Canada upped their price objective on SS&C Technologies to $60.00 and gave the company an outperform rating in a report on Friday, January 12th. Finally, JPMorgan Chase & Co. upgraded SS&C Technologies from a neutral rating to an overweight rating in a report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $49.55.
SS&C Technologies (NASDAQ:SSNC) traded up $0.41 during trading hours on Tuesday, reaching $48.15. The company’s stock had a trading volume of 2,407,594 shares, compared to its average volume of 1,843,303. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.87. The stock has a market cap of $9,912.21, a price-to-earnings ratio of 45.86, a P/E/G ratio of 1.52 and a beta of 1.32. SS&C Technologies has a 52 week low of $32.15 and a 52 week high of $51.39.
In other news, CFO Patrick J. Pedonti sold 20,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $49.73, for a total transaction of $994,600.00. Following the sale, the chief financial officer now owns 20,000 shares of the company’s stock, valued at $994,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 60,000 shares of company stock worth $2,616,200 over the last 90 days. 17.60% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC increased its position in shares of SS&C Technologies by 5,137.5% during the second quarter. Janus Henderson Group PLC now owns 20,123,345 shares of the technology company’s stock worth $772,938,000 after acquiring an additional 19,739,127 shares during the period. Vanguard Group Inc. increased its position in shares of SS&C Technologies by 2.6% during the second quarter. Vanguard Group Inc. now owns 13,793,410 shares of the technology company’s stock worth $529,806,000 after acquiring an additional 343,969 shares during the period. BlackRock Inc. increased its position in shares of SS&C Technologies by 4.5% during the second quarter. BlackRock Inc. now owns 8,606,133 shares of the technology company’s stock worth $330,563,000 after acquiring an additional 373,193 shares during the period. State Street Corp increased its holdings in SS&C Technologies by 20.9% in the second quarter. State Street Corp now owns 3,012,292 shares of the technology company’s stock valued at $115,706,000 after buying an additional 521,727 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in SS&C Technologies by 66.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,671,877 shares of the technology company’s stock valued at $108,158,000 after buying an additional 1,064,603 shares during the last quarter. 86.77% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: This story was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://ledgergazette.com/2018/02/12/william-blair-lowers-ssc-technologies-ssnc-to-market-perform.html.
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.
Receive News & Ratings for SS&C Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SS&C Technologies and related companies with MarketBeat.com's FREE daily email newsletter.