SS&C Technologies (NASDAQ:SSNC) PT Raised to $85.00

SS&C Technologies (NASDAQ:SSNC) had its price target raised by Raymond James from $79.00 to $85.00 in a research report released on Friday, Benzinga reports. They currently have a strong-buy rating on the technology company’s stock.

Several other equities research analysts have also recently issued reports on the stock. DA Davidson restated a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research note on Friday. Finally, Royal Bank of Canada upped their price objective on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

SS&C Technologies Stock Up 0.1 %

SS&C Technologies stock opened at $70.13 on Friday. The firm has a market cap of $17.34 billion, a price-to-earnings ratio of 27.94 and a beta of 1.38. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. SS&C Technologies has a 12 month low of $48.65 and a 12 month high of $77.02. The stock has a fifty day simple moving average of $74.32 and a two-hundred day simple moving average of $67.85.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. SS&C Technologies had a return on equity of 17.62% and a net margin of 12.26%. SS&C Technologies’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 EPS. Equities analysts predict that SS&C Technologies will post 4.66 EPS for the current fiscal year.

SS&C Technologies declared that its board has approved a stock repurchase program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is currently 39.84%.

Insider Activity

In related news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the sale, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the sale, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the transaction, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 609,690 shares of company stock valued at $44,821,055 in the last ninety days. Corporate insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On SS&C Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Quent Capital LLC grew its stake in SS&C Technologies by 76.8% during the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after acquiring an additional 172 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of SS&C Technologies in the second quarter worth about $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of SS&C Technologies in the second quarter worth about $35,000. Benjamin Edwards Inc. grew its holdings in SS&C Technologies by 43.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after buying an additional 204 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in SS&C Technologies by 6,300.0% in the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after acquiring an additional 693 shares during the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

About SS&C Technologies

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.