SS&C Technologies (NASDAQ:SSNC) Shares Gap Down on Analyst Downgrade

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Get Free Report) shares gapped down before the market opened on Friday after DA Davidson lowered their price target on the stock from $100.00 to $94.00. The stock had previously closed at $77.43, but opened at $71.21. DA Davidson currently has a buy rating on the stock. SS&C Technologies shares last traded at $72.18, with a volume of 845,266 shares changing hands.

A number of other equities analysts also recently commented on SSNC. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $86.00 price objective (down previously from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. Needham & Company LLC reduced their target price on shares of SS&C Technologies from $105.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. StockNews.com downgraded shares of SS&C Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday, April 25th. UBS Group lifted their target price on SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $91.86.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 23,000 shares of SS&C Technologies stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total value of $2,032,970.00. Following the completion of the sale, the director now owns 23,200 shares in the company, valued at $2,050,648. The trade was a 49.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jason Douglas White sold 71,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the transaction, the senior vice president now directly owns 6,412 shares of the company's stock, valued at $570,411.52. This trade represents a 91.72 % decrease in their position. The disclosure for this sale can be found here. 16.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On SS&C Technologies

Institutional investors have recently bought and sold shares of the business. Boston Partners boosted its position in SS&C Technologies by 283.1% during the 4th quarter. Boston Partners now owns 5,279,386 shares of the technology company's stock worth $400,161,000 after purchasing an additional 3,901,227 shares during the period. Norges Bank acquired a new stake in shares of SS&C Technologies in the fourth quarter valued at about $205,475,000. Bank of America Corp DE lifted its position in SS&C Technologies by 64.9% during the 4th quarter. Bank of America Corp DE now owns 2,235,142 shares of the technology company's stock worth $169,379,000 after acquiring an additional 880,058 shares in the last quarter. Senator Investment Group LP boosted its holdings in SS&C Technologies by 133.7% in the 4th quarter. Senator Investment Group LP now owns 1,519,175 shares of the technology company's stock worth $115,123,000 after acquiring an additional 869,175 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of SS&C Technologies by 52.4% during the fourth quarter. AQR Capital Management LLC now owns 2,270,232 shares of the technology company's stock valued at $172,038,000 after purchasing an additional 780,616 shares during the period. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

SS&C Technologies Trading Down 0.1 %

The firm has a market capitalization of $18.44 billion, a price-to-earnings ratio of 24.95 and a beta of 1.31. The business's 50-day moving average price is $80.65 and its 200 day moving average price is $78.56. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.03. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm earned $1.28 earnings per share. The company's revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that SS&C Technologies Holdings, Inc. will post 5.35 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. SS&C Technologies's dividend payout ratio (DPR) is presently 31.06%.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.