SS&C Technologies (NASDAQ:SSNC) Hits New 12-Month High After Analyst Upgrade

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) hit a new 52-week high during mid-day trading on Tuesday after StockNews.com upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $87.54 and last traded at $87.22, with a volume of 110058 shares changing hands. The stock had previously closed at $87.29.

A number of other brokerages also recently issued reports on SSNC. Needham & Company LLC upped their price objective on SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada raised their price target on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday. DA Davidson boosted their price objective on shares of SS&C Technologies from $92.00 to $102.00 and gave the company a “buy” rating in a research report on Monday. Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $70.00 to $94.00 in a research note on Monday, February 3rd. Finally, Raymond James lifted their price target on shares of SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $89.50.

Insider Buying and Selling

In other SS&C Technologies news, SVP Jason Douglas White sold 69,000 shares of the business’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 transaction of $5,317,830.00. Following the completion of the sale, the senior vice president now directly owns 6,412 shares in the company, valued at approximately $494,172.84. The trade was a 91.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William C. Stone sold 247,300 shares of SS&C Technologies stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $76.61, for a total value of $18,945,653.00. Following the completion of the sale, the chief executive officer now directly owns 31,837,926 shares in the company, valued at $2,439,103,510.86. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 449,000 shares of company stock worth $34,461,478 in the last 90 days. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SSNC. Creative Planning raised its position 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 buying an additional 735 shares during the last quarter. Park Avenue Securities LLC lifted its stake in SS&C Technologies by 19.0% in the 3rd quarter. Park Avenue Securities LLC now owns 3,990 shares of the technology company’s stock worth $296,000 after purchasing an additional 637 shares in the last quarter. CWM LLC boosted its holdings in shares of SS&C Technologies by 70.4% during the 3rd quarter. CWM LLC now owns 13,274 shares of the technology company’s stock worth $985,000 after purchasing an additional 5,482 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of SS&C Technologies in the third quarter valued at approximately $89,000. Finally, Wedge Capital Management L L P NC increased its holdings in shares of SS&C Technologies by 0.4% in the third quarter. Wedge Capital Management L L P NC now owns 51,497 shares of the technology company’s stock valued at $3,822,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Performance

The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average of $77.90 and a 200 day moving average of $75.22. The stock has a market cap of $21.64 billion, a PE ratio of 29.13 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. Equities analysts predict that SS&C Technologies Holdings, Inc. will post 5.26 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 1.14%. SS&C Technologies’s payout ratio is 33.33%.

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.