SS&C Technologies (NASDAQ:SSNC) Upgraded at StockNews.com

StockNews.com upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning.

Several other equities analysts have also recently commented on SSNC. DA Davidson restated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Royal Bank of Canada boosted their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Raymond James raised their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, SS&C Technologies has a consensus rating of “Buy” and an average target price of $77.75.

SS&C Technologies Trading Up 0.3 %

Shares of SS&C Technologies stock opened at $74.78 on Tuesday. The company’s 50-day moving average price is $73.96 and its 200-day moving average price is $68.45. 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 $51.92 and a 12-month high of $77.02. The company has a market cap of $18.52 billion, a price-to-earnings ratio of 26.80 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The business had revenue of $1.47 billion for 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 business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. On average, equities analysts expect that SS&C Technologies will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. SS&C Technologies’s dividend payout ratio (DPR) is 35.84%.

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

Insider Buying and Selling

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the sale, the director now directly owns 9,576 shares in the company, valued at $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other SS&C Technologies 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 value of $3,434,770.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the sale, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 609,690 shares of company stock worth $44,821,055 in the last 90 days. 15.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On SS&C Technologies

A number of hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC increased its holdings in SS&C Technologies by 7.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 8,439 shares of the technology company’s stock valued at $543,000 after purchasing an additional 597 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of SS&C Technologies by 1.5% during the first quarter. Janney Montgomery Scott LLC now owns 46,672 shares of the technology company’s stock valued at $3,004,000 after acquiring an additional 683 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of SS&C Technologies during the first quarter valued at approximately $75,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in SS&C Technologies by 52.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,475 shares of the technology company’s stock valued at $288,000 after acquiring an additional 1,532 shares in the last quarter. Finally, Mitchell Capital Management Co. increased its position in SS&C Technologies by 3.2% during the 1st quarter. Mitchell Capital Management Co. now owns 66,908 shares of the technology company’s stock valued at $4,307,000 after purchasing an additional 2,062 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.

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.