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The Best And Worst Channel Company Stocks In The Third Quarter Of 2019

Sixteen of the 27 publicly held channel companies on our watch list saw the price of their stock price increase in the third quarter of 2019 – many by double-digit amounts. Take a look at whose shares recorded the biggest gains and losses.

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SS&C Technologies

CEO: William Stone

June 28, 2019 Close: $57.61

Sept. 30, 2019 Close: $51.57

Change: -10.48%

On Sept. 12, SS&C, No. 21 on the CRN Solution Provider 500, announced a deal to acquire the Investrack business from UAE-based Globacom Technologies.

On Sept. 25, the company struck a deal to buy certain Algorithmics and related assets from IBM in a move to expand SS&C’s risk analytics and regulatory offerings.

On Aug. 8, SS&C announced a $500 million common stock repurchase program.

For the first six months of 2019 (ended June 30) SS&C reported revenue of $2.29 billion, up more than 73 percent from $1.32 billion in the first half of 2018. The company reported net income of $201.9 million in the first six months of 2019 compared to a $12.5 million net loss one year earlier.

SS&C will release its third-quarter results on Oct. 31.

 
 
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