Why SS&C Technologies Stock Jumped 10.6% in September
Shares of SS&C Technologies (NASDAQ: SSNC) climbed 10.6% in September, according to data from S&P Global Market Intelligence, rebounding from a steep drop between late July and early August after the investment technology software company predicted a rise in broader M&A activity and announced a number of its own strategic acquisitions.
For perspective, SS&C stock plunged nearly 30% from July 29 to Aug. 5 after the company posted reasonably strong second-quarter 2019 results but still lowered its full-year outlook despite it. At the time, management blamed its tepid guidance on a combination of lower trading volumes affecting revenue at its Eze Software subsidiary, a slower environment for mergers and acquisitions hurting Intralinks revenue, and attrition at some recently acquired businesses.
Image Source: Getty Images.
Source Fool.com
