SS&C Technologies (SSNC) Receives Strong-Buy Rating Upgrade

SS&C Technologies Holdings, Inc. SSNC, a prominent provider of software products and software-enabled services primarily for the financial services and healthcare industries, recently saw an improvement in its stock rating. The company's assessment was elevated to a 'strong-buy' from a previous 'buy' designation by analysts at StockNews.com.

Analyst Ratings Showcase Confidence in SS&C Technologies

Diverse analysts have published their insights on SSNC, thereby constructing a constructive outlook on the stock’s potential. Credit Suisse Group raised their target price on SSNC from $83.00 to $85.00 and granted the shares an 'outperform' rating. Conversely, TheStreet downgraded SSNC from a 'b-' to a 'c+' rating. Additional analyses included DA Davidson, which decreased its target price to $66.00 while still maintaining a 'buy' rating, and Raymond James, which lowered its price objective to $71.00. Meanwhile, Needham & Company LLC revised its price objective down to $62.00, yet persisted with a 'buy' rating. MarketBeat.com data currently presents SSNC with a consensus rating of 'Buy' and an average target price of $66.33.

SS&C Technologies Stock Performance

The stock of SS&C Technologies opened at $52.79 on a notable Thursday, with a market capitalization of $13.07 billion. It has been navigating through a PE ratio of 21.81 and demonstrates a beta of 1.41. The stock has fluctuated between a 12-month low of $46.61 and a high of $64.52. SSNC's stock also has a fifty-day simple moving average of $52.65 and a more extensive 200-day simple moving average of $55.86. The liquidity ratios stand solid, with both the quick and current ratios hitting 1.14, against a debt-to-equity ratio of 1.09.

Insider Transactions at SS&C Technologies

In reveals of insider trades, COO Rahul Kanwar offloaded 140,000 shares, post-transaction holding 50,000 shares valued at approximately $2,838,000. At the same time, Director Normand A. Boulanger sold 60,000 shares, maintaining ownership of 280,000 shares post-trade. The total value of insider sales over the last 90 days amounted to $12,353,800, with insiders currently possessing 14.60% of the company's stock.

Hedge Funds Adjust Positions

Large investors have been repositioning in SSNC. IFP Advisors Inc hiked its holdings by 136.1%, solidifying a position of 477 shares. New stakes were established by KB Financial Partners LLC and Natixis, while Ellevest Inc. considerably increased its ownership by 165.8%. Harbour Investments Inc witnessed its stake surge by 364.3%, showcasing an active engagement by institutional investors who account for 82.17% of SS&C Technologies’ stock.

The Company at a Glance

SS&C Technologies Holdings, Inc., headquartered in Windsor, Connecticut, operates a comprehensive technology suite encompassing a variety of functions for the financial sector and offers robust solutions for the healthcare industry. It has been committed to delivering outstanding software and services to its clientele, building upon its expertise and industry-standing.

investment, software, technology, finance