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SSNC

SS&C

$29.06

-0.95 (-3.17%)

, WFC

Wells Fargo

$54.44

1.52 (2.87%)

16:11
12/01/16
12/01
16:11
12/01/16
16:11

SS&C acquires Wells Fargo's Global Fund Services business

SS&C (SSNC) completed the acquisition of Wells Fargo's (WFC) Global Fund Services business, a provider of comprehensive administration, middle-office, operations, and cash/collateral management services. GFS administers more than $42B in alternative assets. As a result of the acquisition, SS&C will add more than 250 employees and 130 fund relationships in Hong Kong, London, New York, Minneapolis and Singapore. The acquired GFS group will fold into SS&C's Alternative Assets business group and will be managed by Chris Kundro, Head of Wells Fargo Global Fund Services.

SSNC

SS&C

$29.06

-0.95 (-3.17%)

WFC

Wells Fargo

$54.44

1.52 (2.87%)

  • 06

    Dec

  • 06

    Dec

  • 07

    Dec

SSNC SS&C
$29.06

-0.95 (-3.17%)

03/29/16
MSCO
03/29/16
INITIATION
Target $68
MSCO
Equal Weight
SS&C initiated with an Equal Weight at Morgan Stanley
Target $68.
04/13/16
MSCO
04/13/16
INITIATION
Target $68
MSCO
Equal Weight
SS&C initiated with an Equal Weight at Morgan Stanley
Target $68.
09/27/16
MSCO
09/27/16
UPGRADE
Target $39
MSCO
Overweight
SS&C upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Brian Essex upgraded SS&C to Overweight and raised its price target to $39 from $37. The analyst expects fundamentals to improve in the 2H 2016 with robust cash flow driven by improving retention rates, Advent contribution, easier license comps, improved cross selling and sales force reorganization, and AUA stabilization.
11/29/16
JEFF
11/29/16
NO CHANGE
Target $39
JEFF
Buy
Jefferies talks to SS&C CFO about investor concerns
Jefferies analyst John DiFucci says he spoke to SS&C Technologies CFO Patrick Pedonti about recent investor concerns. The company's recognition of revenue from deferred revenue has not changed, although it might be different than that of acquired businesses, DiFucci tells investors in a research note, citing his understanding of the situation. He also believes the difficult macro backdrop for alternative asset managers is well-understood and that SS&C continues to execute well. The analyst has a Buy rating on the shares with a $39 price target.
WFC Wells Fargo
$54.44

1.52 (2.87%)

11/28/16
11/28/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AbbVie (ABBV) downgraded to Neutral from Buy at Citi. 2. Citi (C), Wells Fargo (WFC), and Regions Financial (RF) were downgraded to Hold from Buy at Jefferies with analyst Ken Usdin citing valuation. 3. Hilton (HLT) and Marriott (MAR) were downgraded to Hold from Buy at Evercore ISI. 4. H&R Block (HRB) downgraded to Sell from Neutral at BTIG with analyst Mark Palmer noting that President-elect Trump has said he wants to put H&R Block out of business by simplifying the tax code. 5. Tupperware Brands (TUP) downgraded to Sell from Neutral at B. Riley with analyst Linda Bolton Weiser saying the stock has not moved lower to reflect post-election currency devaluations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/30/16
11/30/16
UPGRADE

Buy
Deutsche ups Goldman Sachs to Buy, says stronger economy not yet priced in
As previously reported, Deutsche Bank analyst Matt O'Connor upgraded Goldman Sachs (GS) to Buy from Hold, offering the opinion that leverage to higher rates is mostly reflected in bank stock prices following their post-election advance so far, but that higher loan growth and fee volumes from a stronger economy may not be. After having updated his earnings models to more closely reflect a combination of stronger economic growth, higher interest rates and lower regulations and tax rates, O'Conner said Goldman is now one of his top, listing Huntington Bancshares (HBAN) and Wells Fargo (WFC) as his top large regional bank choices.
12/01/16
SUSQ
12/01/16
DOWNGRADE
SUSQ
Neutral
Wells Fargo downgraded to Neutral from Positive at Susquehanna
12/01/16
SUSQ
12/01/16
DOWNGRADE
Target $56
SUSQ
Neutral
Wells Fargo downgraded to Neutral due to valuation at Susquehanna
As previously reported, Susquehanna downgraded Wells Fargo to Neutral from Positive and raised its price target to $56 from $53. Analyst Jack Micenko changed his view due to valuation and said most of the optimism around economic growth, higher rates, reduced regulation, and lower taxes is reflected in shares.

TODAY'S FREE FLY STORIES

CELC

Celcuity

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BSTI

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GIS

General Mills

$55.38

-1.05 (-1.86%)

20:25
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Notable companies reporting before tomorrow's open »

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PCRX

Pacira

$35.70

-0.6 (-1.65%)

20:00
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Pacira analyst commentary at BMO Capital »

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  • 25

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AVEVF

Aveva

19:56
09/19/17
09/19
19:56
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19:56
Upgrade
Aveva rating change at Goldman Sachs »

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ZLAB

Zai Lab

18:58
09/19/17
09/19
18:58
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Syndicate
Zai Lab announces upsizing of U.S. IPO of American depositary shares »

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  • 20

    Sep

OHI

Omega Healthcare

$32.53

-0.12 (-0.37%)

18:30
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Omega Healthcare provides hurricane update »

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  • 20

    Sep

F

Ford

$11.72

0.09 (0.77%)

18:30
09/19/17
09/19
18:30
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18:30
Periodicals
Ford to slash production at five North American assembly plants, Reuters says »

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  • 23

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FDX

FedEx

$216.00

0.92 (0.43%)

18:26
09/19/17
09/19
18:26
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18:26
Hot Stocks
FedEx says without cyberattack FY18 guidance would not have changed »

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  • 19

    Sep

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EE

El Paso Electric

$54.85

0.05 (0.09%)

18:25
09/19/17
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Hot Stocks
El Paso Electric announces City of El Paso approved settlement terms »

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BBBY

Bed Bath & Beyond

$27.03

-0.27 (-0.99%)

18:17
09/19/17
09/19
18:17
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18:17
Hot Stocks
Bed Bath & Beyond says biggest component in drop of FY17 EPS view is operations »

Company dropped its FY17…

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  • 19

    Sep

CPRT

Copart

$32.54

-0.32 (-0.97%)

18:11
09/19/17
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18:11
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Earnings
Copart reports Q4 EPS 30c, consensus 29c »

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  • 20

    Sep

STLD

Steel Dynamics

$33.83

0.03 (0.09%)

18:04
09/19/17
09/19
18:04
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18:04
Earnings
Steel Dynamics sees Q3 adjusted EPS 63c-67c, consensus 70c »

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XBKS

Xenith Bankshares

$29.96

0.42 (1.42%)

17:58
09/19/17
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17:58
Hot Stocks
Treasury exits stake in Xenith Bankshares »

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BMY

Bristol-Myers

$62.93

0.23 (0.37%)

17:54
09/19/17
09/19
17:54
09/19/17
17:54
Periodicals
Breaking Periodicals news story on Bristol-Myers »

Times:NHS will supply…

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  • 24

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  • 05

    Mar

BBBY

Bed Bath & Beyond

17:54
09/19/17
09/19
17:54
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17:54
Hot Stocks
Breaking Hot Stocks news story on Bed Bath & Beyond »

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  • 19

    Sep

DESP

Despegar.com

17:52
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Syndicate
Despegar.com 12.7M share IPO priced at $26.00 »

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  • 20

    Sep

WAC

Walter Investment

$0.65

0.186 (40.09%)

17:50
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17:50
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Walter Investment says Barclays to increase financing available »

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CBAY

CymaBay

17:49
09/19/17
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17:49
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17:49
Initiation
CymaBay initiated at Cantor »

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  • 25

    Sep

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BBBY

Bed Bath & Beyond

17:46
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Hot Stocks
Bed Bath & Beyond sees net drop in Bed Bath & Beyond stores in FY17 »

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  • 19

    Sep

EVH

Evolent Health

$15.65

-0.8 (-4.86%)

17:45
09/19/17
09/19
17:45
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17:45
Initiation
Evolent Health initiated at KeyBanc »

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  • 25

    Sep

BPL

Buckeye Partners

$56.33

0.64 (1.15%)

17:44
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17:44
Syndicate
Buckeye Partners announces $210M in limited partnership unit sales »

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RL

Ralph Lauren

$91.03

0.87 (0.96%)

17:43
09/19/17
09/19
17:43
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17:43
Initiation
Ralph Lauren initiated at Barclays »

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  • 03

    Oct

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PVH

PVH Corp.

$127.47

-0.54 (-0.42%)

17:43
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Initiation
PVH Corp. initiated at Barclays »

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  • 19

    Sep

GEMP

Gemphire Therapeutics

$9.65

0.54 (5.93%)

, ORIG

Ocean Rig UDW

$0.16

-0.0083 (-4.90%)

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GEMP

Gemphire Therapeutics

$9.65

0.54 (5.93%)

ORIG

Ocean Rig UDW

$0.16

-0.0083 (-4.90%)

IOVA

Iovance Biotherapeutics

$8.55

0.3 (3.64%)

BBBY

Bed Bath & Beyond

$27.03

-0.27 (-0.99%)

FDX

FedEx

$216.00

0.92 (0.43%)

ADBE

Adobe

$156.60

0.83 (0.53%)

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  • 19

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