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

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) 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.

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:SSNC) 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

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.