Morgan Stanley upgraded shares of SS&C Technologies Holdings Inc. (NASDAQ:SSNC) from an equal weight rating to an overweight rating in a report released on Tuesday. The brokerage currently has $39.00 price target on the stock, up from their prior price target of $37.00.
“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.,” the firm’s analyst wrote.
Several other research firms have also commented on SSNC. Jefferies Group set a $36.00 price target on shares of SS&C Technologies Holdings and gave the company a buy rating in a research report on Thursday, September 15th. Deutsche Bank AG dropped their price target on shares of SS&C Technologies Holdings from $63.00 to $32.00 and set a hold rating on the stock in a research report on Monday, July 11th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $65.27.
Shares of SS&C Technologies Holdings (NASDAQ:SSNC) opened at 32.15 on Tuesday. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 554.31 and a beta of 1.16. SS&C Technologies Holdings has a 52-week low of $23.61 and a 52-week high of $38.60. The company has a 50-day moving average of $32.37 and a 200-day moving average of $30.86.
SS&C Technologies Holdings (NASDAQ:SSNC) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company 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 firm’s revenue was up 80.4% on a year-over-year basis. During the same quarter last year, the business earned $0.33 earnings per share. Equities research analysts anticipate that SS&C Technologies Holdings will post $1.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors 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 0.78%. SS&C Technologies Holdings’s payout ratio is presently 454.63%.
In related news, insider Normand A. Boulanger sold 227,284 shares of the business’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 $9,707,775. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 18.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Janus Capital Management LLC increased its position in shares of SS&C Technologies Holdings by 113.1% in the second quarter. Janus Capital Management LLC now owns 18,164,771 shares of the company’s stock worth $510,058,000 after buying an additional 9,639,083 shares during the period. Vanguard Group Inc. increased its position in shares of SS&C Technologies Holdings by 108.8% in the second quarter. Vanguard Group Inc. now owns 11,889,819 shares of the company’s stock worth $333,865,000 after buying an additional 6,194,142 shares during the period. FMR LLC increased its position in shares of SS&C Technologies Holdings by 104.7% in the second quarter. FMR LLC now owns 9,834,674 shares of the company’s stock worth $276,159,000 after buying an additional 5,029,905 shares during the period. Wellington Management Group LLP increased its position in shares of SS&C Technologies Holdings by 126.3% in the first quarter. Wellington Management Group LLP now owns 6,821,255 shares of the company’s stock worth $432,605,000 after buying an additional 3,806,503 shares during the period. Finally, Farallon Capital Management LLC increased its position in shares of SS&C Technologies Holdings by 156.0% in the second quarter. Farallon Capital Management LLC now owns 4,973,176 shares of the company’s stock worth $139,647,000 after buying an additional 3,030,377 shares during the period. Hedge funds and other institutional investors own 88.19% of the company’s stock.
About SS&C Technologies Holdings
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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