Morgan Stanley Upgrades SS&C Technologies Holdings Inc. (SSNC) to Overweight
SS&C Technologies Holdings Inc. (NASDAQ:SSNC) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday. The firm currently has a $39.00 price objective on the stock, up from their prior price objective of $37.00. Morgan Stanley’s price objective points to a potential upside of 17.61% from the stock’s current price.
The analysts wrote, “In our view, these items could contribute over 600bps of cumulative organic growth in 2H16,” analyst Brian Essex wrote in a note.Related Link: A New, Possibly Better Way To Play Consumer Discretionary StocksOn the margin front, Essex said the acquisition of Advent could drive the company’s long-term EBITDA margins above its long-term guidance of 41–43 percent, driven by “cross selling, infrastructure savings, fixed costs leverage and streamlined R&D and marketing spend.”
Several other equities research analysts also recently commented on SSNC. Deutsche Bank AG reduced their target price on shares of SS&C Technologies Holdings from $63.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, July 11th. Jefferies Group set a $36.00 target price on shares of SS&C Technologies Holdings and gave the company a “buy” rating in a research note on Thursday, September 15th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. SS&C Technologies Holdings has a consensus rating of “Buy” and an average price target of $65.27.
SS&C Technologies Holdings (NASDAQ:SSNC) opened at 33.16 on Tuesday. SS&C Technologies Holdings has a 52 week low of $23.61 and a 52 week high of $38.60. The stock has a 50 day moving average of $32.34 and a 200 day moving average of $30.84. The firm has a market cap of $6.67 billion, a PE ratio of 571.72 and a beta of 1.16.
SS&C Technologies Holdings (NASDAQ:SSNC) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $384.40 million for the quarter, compared to analyst estimates of $377.12 million. SS&C Technologies Holdings had a net margin of 0.99% and a return on equity of 11.94%. The business’s revenue for the quarter was up 80.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. Analysts anticipate that SS&C Technologies Holdings will post $1.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $0.0625 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.25 dividend on an annualized basis and a yield of 0.75%. SS&C Technologies Holdings’s payout ratio is presently 454.63%.
In other SS&C Technologies Holdings news, insider Normand A. Boulanger sold 227,284 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $31.57, for a total transaction of $7,175,355.88. Following the transaction, the insider now directly owns 307,500 shares in the company, valued at approximately $9,707,775. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 18.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SSNC. Norges Bank acquired a new position in SS&C Technologies Holdings during the fourth quarter worth about $48,189,000. Fisher Asset Management LLC acquired a new position in SS&C Technologies Holdings during the first quarter worth about $603,000. Aperio Group LLC increased its position in SS&C Technologies Holdings by 42.9% in the first quarter. Aperio Group LLC now owns 4,677 shares of the company’s stock worth $297,000 after buying an additional 1,403 shares during the last quarter. Virginia Retirement System acquired a new position in SS&C Technologies Holdings during the first quarter worth about $564,000. Finally, Ngam Advisors L.P. increased its position in SS&C Technologies Holdings by 49.1% in the first quarter. Ngam Advisors L.P. now owns 65,222 shares of the company’s stock worth $4,136,000 after buying an additional 21,477 shares during the last quarter. Institutional investors own 88.19% of the company’s stock.
SS&C Technologies Holdings Company Profile
SS&C Technologies Holdings, Inc (SS&C Holdings) 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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