Brokerages Set SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Target Price at $77.75

SS&C Technologies Holdings, Inc. (NASDAQ:SSNCGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $77.75.

Several research analysts recently weighed in on SSNC shares. StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Raymond James lifted their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. Royal Bank of Canada lifted their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of SS&C Technologies in a research note on Friday, October 25th. Finally, DA Davidson reissued a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th.

Get Our Latest Stock Report on SS&C Technologies

Insider Transactions at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the transaction, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Normand A. Boulanger sold 130,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the transaction, the director now directly owns 333,576 shares in the company, valued at approximately $25,144,958.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the transaction, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. 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 over the last 90 days. 15.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SS&C Technologies

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

SS&C Technologies Trading Up 0.5 %

Shares of SSNC stock opened at $70.77 on Friday. SS&C Technologies has a 12-month low of $51.72 and a 12-month high of $77.02. The company has a market capitalization of $17.53 billion, a P/E ratio of 25.27 and a beta of 1.39. The firm has a 50-day moving average price of $74.07 and a 200 day moving average price of $68.12. The company has a quick ratio of 1.16, a current ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNCGet Free Report) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.04 EPS. Research analysts forecast that SS&C Technologies will post 4.62 earnings per share for the current fiscal year.

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 paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.41%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is presently 35.84%.

SS&C Technologies announced that its Board of Directors has approved a share buyback program on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

SS&C Technologies Company Profile

(Get Free Report

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.

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Analyst Recommendations for SS&C Technologies (NASDAQ:SSNC)

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