SS&C Technologies’ (SSNC) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of SS&C Technologies (NASDAQ:SSNC) in a research report released on Friday, Benzinga reports. Needham & Company LLC currently has a $90.00 target price on the technology company’s stock.

A number of other equities research analysts also recently commented on the company. DA Davidson reissued a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a report on Thursday, October 10th. Royal Bank of Canada raised their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

SS&C Technologies Stock Up 0.1 %

SSNC stock opened at $70.13 on Friday. The stock has a market capitalization of $17.34 billion, a PE ratio of 27.94 and a beta of 1.38. The company has a fifty day moving average of $74.32 and a 200-day moving average of $67.85. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. SS&C Technologies has a one year low of $48.65 and a one year high of $77.02.

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

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is 39.84%.

SS&C Technologies announced that its board has approved a stock repurchase plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 directly owns 9,576 shares in the company, valued at $678,172.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock worth $44,821,055 over the last ninety days. 15.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SS&C Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. Park Avenue Securities LLC grew its stake in SS&C Technologies by 15.0% in the 1st 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 during the period. AlphaMark Advisors LLC grew its position in shares of SS&C Technologies by 5.1% in the first quarter. AlphaMark Advisors LLC now owns 9,710 shares of the technology company’s stock valued at $625,000 after purchasing an additional 470 shares during the period. Denali Advisors LLC acquired a new position in SS&C Technologies in the first quarter valued at $51,000. Valley National Advisers Inc. lifted its position in SS&C Technologies by 17.9% during the first 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 during the period. Finally, Principal Financial Group Inc. boosted its stake in SS&C Technologies by 34.6% in the 1st quarter. Principal Financial Group Inc. now owns 18,422 shares of the technology company’s stock worth $1,186,000 after buying an additional 4,732 shares during the last quarter. 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.