SS&C Technologies (NASDAQ:SSNC) Given New $105.00 Price Target at Needham & Company LLC

SS&C Technologies (NASDAQ:SSNC) had its price target hoisted by Needham & Company LLC from $90.00 to $105.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued reports about the stock. 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 report on Friday, October 25th. UBS Group increased their target price on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $70.00 to $94.00 in a research note on Monday, February 3rd. DA Davidson reiterated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Finally, StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $88.25.

SS&C Technologies Trading Up 6.0 %

NASDAQ:SSNC opened at $86.71 on Friday. The stock has a fifty day moving average price of $77.69 and a 200 day moving average price of $75.08. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies has a 12-month low of $59.53 and a 12-month high of $87.50. The firm has a market cap of $21.48 billion, a PE ratio of 28.90 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. Sell-side analysts anticipate that SS&C Technologies will post 5.26 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 1.15%. SS&C Technologies’s dividend payout ratio is currently 33.33%.

Insider Buying and Selling

In related news, SVP Jason Douglas White sold 69,000 shares of the company’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 in the company, valued at $494,172.84. This represents a 91.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William C. Stone sold 132,700 shares of SS&C Technologies stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $76.85, for a total value of $10,197,995.00. Following the transaction, the chief executive officer now directly owns 31,837,926 shares of the company’s stock, valued at approximately $2,446,744,613.10. This represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 449,000 shares of company stock valued at $34,461,478 over the last ninety days. Corporate insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SSNC. Creative Planning lifted its holdings in shares of SS&C Technologies by 9.9% in the second quarter. Creative Planning now owns 8,131 shares of the technology company’s stock valued at $510,000 after purchasing an additional 735 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of SS&C Technologies by 285.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,237 shares of the technology company’s stock worth $140,000 after purchasing an additional 1,657 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in SS&C Technologies by 183.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,225 shares of the technology company’s stock valued at $641,000 after buying an additional 6,624 shares in the last quarter. Park Avenue Securities LLC grew its holdings in SS&C Technologies by 19.0% during the 3rd quarter. Park Avenue Securities LLC now owns 3,990 shares of the technology company’s stock valued at $296,000 after buying an additional 637 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in SS&C Technologies by 85.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,364 shares of the technology company’s stock worth $175,000 after purchasing an additional 1,091 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.