SS&C Technologies (NASDAQ:SSNC) Cut to Buy at StockNews.com

StockNews.com lowered shares of SS&C Technologies (NASDAQ:SSNC) from a strong-buy rating to a buy rating in a report issued on Monday morning.

A number of other equities analysts have also recently issued reports on SSNC. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a report on Friday, October 25th. Raymond James boosted their price objective on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Friday, October 25th. Royal Bank of Canada increased their target price on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Finally, DA Davidson reissued a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.75.

SS&C Technologies Trading Up 0.5 %

NASDAQ:SSNC opened at $70.80 on Monday. SS&C Technologies has a 52 week low of $48.82 and a 52 week high of $77.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The company has a market cap of $17.51 billion, a PE ratio of 28.21 and a beta of 1.38. The business’s 50 day moving average is $74.27 and its two-hundred day moving average is $67.91.

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

SS&C Technologies declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board 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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s payout ratio is 39.84%.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the sale, 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 sold 609,690 shares of company stock valued at $44,821,055 over the last 90 days. 15.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SS&C Technologies

Several large investors have recently modified their holdings of the stock. Park Avenue Securities LLC increased its position in shares of SS&C Technologies by 15.0% in the first quarter. Park Avenue Securities LLC now owns 3,995 shares of the technology company’s stock worth $257,000 after acquiring an additional 520 shares in the last quarter. Denali Advisors LLC acquired a new position in SS&C Technologies in the 1st quarter valued at approximately $51,000. Valley National Advisers Inc. lifted its position in SS&C Technologies by 17.9% in the 1st quarter. Valley National Advisers Inc. now owns 5,133 shares of the technology company’s stock worth $330,000 after buying an additional 778 shares in the last quarter. Principal Financial Group Inc. boosted its position in SS&C Technologies by 34.6% during the first quarter. Principal Financial Group Inc. now owns 18,422 shares of the technology company’s stock valued at $1,186,000 after purchasing an additional 4,732 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of SS&C Technologies by 7.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 8,439 shares of the technology company’s stock valued at $543,000 after buying an additional 597 shares in the last quarter. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Company Profile

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.