SS&C Technologies Holdings Inc.’s recently made public that its President & COO Kanwar Rahul unloaded Company’s shares for reported $7.95 million on Aug 29. In the deal valued at $56.76 per share,140,000 shares were sold. As a result of this transaction, Kanwar Rahul now holds 50,000 shares worth roughly $ 2.77 million.
Then, PEDONTI PATRICK J sold 200,000 shares, generating $12,005,020 in total proceeds. Upon selling the shares at $60.03, the SVP and CFO now owns 0 shares.
JP Morgan initiated its SS&C Technologies Holdings Inc. [SSNC] rating to an Overweight in a research note published on Monday, March 15, 2023; the price target was $68. PT values the company’s stock at a premium of 18.51 to its Monday closing price.
Price Performance Review of SSNC
On Monday, SS&C Technologies Holdings Inc. [NASDAQ:SSNC] saw its stock fall -0.57% to $55.41. On the same session, the stock had its day’s lowest price of $55.355, but rose to a high of $56.19. Over the last five days, the stock has lost -3.69%. SS&C Technologies Holdings Inc. shares have risen nearly 6.43% since the year began. Nevertheless, the stocks have fallen -2.28% over the past one year. While a 52-week high of $64.52 was reached on 02/09/23, a 52-week low of $45.25 was recorded on 01/03/23. SMA at 50 days reached $58.08, while 200 days put it at $56.71. A total of 0.67 million shares were traded, compared to the trading of 0.93 million shares in the previous session.
Levels Of Support And Resistance For SSNC Stock
The 24-hour chart illustrates a support level at 55.11, which if violated will result in even more drops to 54.82. On the upside, there is a resistance level at 55.95. A further resistance level may holdings at 56.49. The Relative Strength Index (RSI) on the 14-day chart is 40.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.73, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.31%. Stochastics %K at 22.93% indicates the stock is a holding.
How much short interest is there in SS&C Technologies Holdings Inc.?
A steep rise in short interest was recorded in SS&C Technologies Holdings Inc. stocks on Aug 14, 2023, dropping by -0.3 million shares to a total of 2.11 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.41 million shares. There was a decline of -14.22%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.11% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.85.
According to FactSet, SS&C Technologies Holdings Inc.’s share price will average $67.88 in the next year, based on opinions of analysts polled by the firm. This is up nearly 24.26 percent from its previous closing price of $55.73. Analysts expect SS&C Technologies Holdings Inc. stock to reach the higher price of $85.00, while the lowest price estimate is $55.00. However, 14 analysts have rated SSNC stock as an Overweight in their predictions for 2023.