DA Davidson Reaffirms Buy Rating for SS&C Technologies (NASDAQ:SSNC)

DA Davidson reissued their buy rating on shares of SS&C Technologies (NASDAQ:SSNC) in a report issued on Thursday morning, Benzinga reports. They currently have a $92.00 target price on the technology company’s stock.

A number of other research analysts also recently issued reports on SSNC. 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 note on Thursday, September 19th. Needham & Company LLC upped their price objective on SS&C Technologies from $81.00 to $90.00 and gave the company a buy rating in a research note on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, SS&C Technologies currently has an average rating of Moderate Buy and an average price target of $73.75.

SS&C Technologies Price Performance

Shares of NASDAQ:SSNC opened at $75.44 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. SS&C Technologies has a twelve month low of $46.61 and a twelve month high of $76.94. The stock’s 50 day moving average is $73.44 and its 200-day moving average is $66.90. The firm has a market capitalization of $18.66 billion, a price-to-earnings ratio of 30.06 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. SS&C Technologies’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts forecast that SS&C Technologies will post 4.66 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is presently 39.84%.

SS&C Technologies declared that its board has approved a share buyback plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the transaction, the director now owns 22,576 shares in the company, valued at $1,715,098.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other SS&C Technologies news, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction on 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 completion of the transaction, the director now 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 can be accessed 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 value of $1,443,430.00. Following the completion of the transaction, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock worth $44,821,055 in the last quarter. 15.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC grew its holdings in shares of SS&C Technologies by 39.3% in the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock worth $4,305,000 after acquiring an additional 18,878 shares during the period. Assenagon Asset Management S.A. grew its holdings in SS&C Technologies by 2,178.2% during the second quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock valued at $6,568,000 after purchasing an additional 100,197 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in SS&C Technologies by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock valued at $16,341,000 after purchasing an additional 11,497 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in SS&C Technologies during the second quarter valued at about $1,661,000. Finally, Burgundy Asset Management Ltd. grew its holdings in SS&C Technologies by 4.3% during the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock valued at $309,739,000 after purchasing an additional 201,632 shares during the period. Hedge funds and other institutional investors 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.