SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Receives $77.75 Average Price Target from Analysts

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $77.75.

SSNC has been the topic of a number of research analyst reports. DA Davidson reissued a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a report on Friday, October 25th. Royal Bank of Canada lifted their target price 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. Finally, Raymond James increased their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 25th.

SS&C Technologies Stock Performance

Shares of SS&C Technologies stock opened at $77.34 on Wednesday. The business’s fifty day simple moving average is $74.22 and its 200-day simple moving average is $69.73. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The firm has a market cap of $19.16 billion, a PE ratio of 27.73 and a beta of 1.39. SS&C Technologies has a 52 week low of $55.63 and a 52 week high of $77.69.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating 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 17.33%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period last year, the business earned $1.04 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts forecast that SS&C Technologies will post 4.62 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. SS&C Technologies’s dividend payout ratio is currently 35.84%.

Insiders Place Their Bets

In other news, Director Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the sale, the director now owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. This trade represents a 28.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jason Douglas White sold 69,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total value of $5,317,830.00. Following the sale, the senior vice president now owns 6,412 shares of the company’s stock, valued at approximately $494,172.84. The trade was a 91.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,000 shares of company stock worth $16,560,660 in the last 90 days. Corporate insiders own 15.40% of the company’s stock.

Institutional Trading of SS&C Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in shares of SS&C Technologies in the 2nd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of SS&C Technologies during the second quarter worth approximately $35,000. Benjamin Edwards Inc. raised its position in SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after purchasing an additional 204 shares during the last quarter. Versant Capital Management Inc boosted its stake in SS&C Technologies by 6,300.0% during the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after purchasing an additional 693 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new position in SS&C Technologies during the 2nd quarter worth $47,000. Institutional investors and hedge funds own 96.95% of the company’s stock.

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.