William Blair cut shares of SS&C Technologies (NASDAQ:SSNC) from an outperform rating to a market perform rating in a research report released on Tuesday morning, MarketBeat 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.
Several other analysts have also recently weighed in on the company. Royal Bank of Canada boosted their price objective on SS&C Technologies to $60.00 and gave the stock an outperform rating in a report on Friday, January 12th. DA Davidson boosted their price objective on SS&C Technologies to $54.00 and gave the stock a buy rating in a report on Friday, January 12th. Jefferies Group reissued a buy rating on shares of SS&C Technologies in a report on Friday, January 12th. Needham & Company LLC reissued a buy rating and set a $60.00 price objective (up from $44.00) on shares of SS&C Technologies in a report on Friday, January 12th. Finally, JPMorgan Chase & Co. raised SS&C Technologies from a neutral rating to an overweight rating in a report on Thursday, January 11th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $48.82.
Shares of SS&C Technologies (NASDAQ:SSNC) traded up $0.04 during trading hours on Tuesday, reaching $49.98. The company’s stock had a trading volume of 2,490,095 shares, compared to its average volume of 3,078,287. The company has a market cap of $10,270.00, a PE ratio of 47.60, a P/E/G ratio of 1.59 and a beta of 1.08. SS&C Technologies has a 12-month low of $30.82 and a 12-month high of $51.39. 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 (NASDAQ:SSNC) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The firm had revenue of $419.60 million during the quarter, compared to analysts’ expectations of $424.14 million. SS&C Technologies had a return on equity of 15.32% and a net margin of 13.47%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. sell-side analysts expect that SS&C Technologies will post 1.78 EPS for the current fiscal year.
In other news, CFO Patrick J. Pedonti sold 20,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $40.69, for a total value of $813,800.00. Following the completion of the sale, the chief financial officer now directly owns 17,500 shares of the company’s stock, valued at approximately $712,075. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 60,000 shares of company stock valued at $2,414,600. 17.60% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in shares of SS&C Technologies by 20.9% in the 2nd quarter. State Street Corp now owns 3,012,292 shares of the technology company’s stock valued at $115,706,000 after acquiring an additional 521,727 shares during the last quarter. Green Square Capital LLC acquired a new position in shares of SS&C Technologies in the 2nd quarter valued at approximately $257,000. State of Wisconsin Investment Board grew its position in shares of SS&C Technologies by 7.4% in the 3rd quarter. State of Wisconsin Investment Board now owns 157,385 shares of the technology company’s stock valued at $6,319,000 after purchasing an additional 10,885 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in shares of SS&C Technologies by 138.3% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 238,338 shares of the technology company’s stock valued at $9,569,000 after purchasing an additional 138,338 shares during the period. Finally, Macquarie Group Ltd. grew its position in shares of SS&C Technologies by 64.3% in the 2nd quarter. Macquarie Group Ltd. now owns 219,251 shares of the technology company’s stock valued at $8,421,000 after purchasing an additional 85,846 shares during the period. 86.04% of the stock is owned by institutional investors.
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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