SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $43.00 target price on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.11% from the company’s current price.

According to Zacks, “SS&C Technologies Holdings, Inc. delivers investment and financial management software and related services focused exclusively on the financial services industry. The Company provides a broad range of specialized software, software enabled-services and software as a service (SaaS) solutions for operational excellence. SS&C Technologies delivers mission-critical processing for information management, analysis, trading, accounting, reporting and compliance. The Company serves clients in the following market verticals: 1) insurance entities and pension funds, 2) institutional asset management, 3) alternative investment management 4) treasury, banks and credit unions, 5) municipal finance, 6) real estate property management, 7) commercial lending, and 8) financial markets. SS&C Technologies Holdings, Inc. is headquartered in Windsor, CT and has offices throughout North America, Europe, Asia, and Australia. “

SSNC has been the topic of several other research reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $41.00 target price on shares of SS&C Technologies Holdings in a research note on Wednesday, August 9th. BidaskClub lowered shares of SS&C Technologies Holdings from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $39.00 target price (up previously from $35.00) on shares of SS&C Technologies Holdings in a research note on Friday, July 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $44.00 target price (up previously from $42.00) on shares of SS&C Technologies Holdings in a research note on Sunday, July 30th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $41.25.

Shares of SS&C Technologies Holdings (SSNC) opened at 38.70 on Thursday. SS&C Technologies Holdings has a 12-month low of $28.43 and a 12-month high of $40.21. The company has a 50 day moving average of $38.47 and a 200-day moving average of $37.26. The company has a market capitalization of $7.94 billion, a P/E ratio of 41.26 and a beta of 1.15.

SS&C Technologies Holdings (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. SS&C Technologies Holdings had a net margin of 12.17% and a return on equity of 14.90%. The firm had revenue of $414.10 million for the quarter, compared to analyst estimates of $413.33 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that SS&C Technologies Holdings will post $1.94 EPS for the current fiscal year.

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In related news, CFO Patrick J. Pedonti sold 30,000 shares of SS&C Technologies Holdings stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $37.83, for a total transaction of $1,134,900.00. Following the transaction, the chief financial officer now owns 30,000 shares of the company’s stock, valued at approximately $1,134,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Jay Zamkow acquired 14,275 shares of SS&C Technologies Holdings stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average cost of $36.62 per share, for a total transaction of $522,750.50. The disclosure for this purchase can be found here. 17.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westpac Banking Corp raised its position in SS&C Technologies Holdings by 0.5% in the first quarter. Westpac Banking Corp now owns 17,904 shares of the technology company’s stock valued at $634,000 after buying an additional 83 shares during the last quarter. Comerica Bank raised its position in SS&C Technologies Holdings by 1.1% in the first quarter. Comerica Bank now owns 8,043 shares of the technology company’s stock valued at $302,000 after buying an additional 89 shares during the last quarter. Utah Retirement Systems raised its position in SS&C Technologies Holdings by 0.3% in the first quarter. Utah Retirement Systems now owns 30,700 shares of the technology company’s stock valued at $1,087,000 after buying an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in SS&C Technologies Holdings by 1.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 16,817 shares of the technology company’s stock valued at $646,000 after buying an additional 172 shares during the last quarter. Finally, World Asset Management Inc raised its position in SS&C Technologies Holdings by 2.4% in the second quarter. World Asset Management Inc now owns 7,668 shares of the technology company’s stock valued at $295,000 after buying an additional 177 shares during the last quarter. 86.91% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Holdings Company Profile

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.

Analyst Recommendations for SS&C Technologies Holdings (NASDAQ:SSNC)

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