Why SS&C Technologies Holdings Stock Skyrocketed on Friday
It posted an impressive quarterly earnings report.
Overview
The under-the-radar tech stock SS&C Technologies Holdings (NASDAQ: SSNC) was a double-digit winner on Friday. Investors eagerly bought shares of the company, which specializes in software solutions for healthcare and finance sector clients. An earnings-beating quarterly report had much to do with this surge.
SS&C took the wraps off its second-quarter numbers just after market close on Thursday. Its revenue for the period was $1.7 billion, which was more than 10% higher year over year. More impressively, net income not under generally accepted accounting principles (non-GAAP, or adjusted) advanced by 13% to almost $426 million, or $1.76 per share.
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Originally published at www.fool.com.