SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $81.00

SS&C Technologies (NASDAQ:SSNC) had its price objective hoisted by Needham & Company LLC from $74.00 to $81.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the company. DA Davidson boosted their target price on SS&C Technologies from $78.00 to $84.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Jefferies Financial Group raised their price objective on SS&C Technologies from $54.00 to $61.00 and gave the stock a hold rating in a report on Monday, April 29th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $70.75.

SS&C Technologies Price Performance

NASDAQ SSNC opened at $73.66 on Friday. The stock has a market cap of $18.22 billion, a price-to-earnings ratio of 29.35 and a beta of 1.38. SS&C Technologies has a 12 month low of $46.61 and a 12 month high of $73.79. The company’s 50 day moving average is $63.48 and its two-hundred day moving average is $62.72. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.52% and a net margin of 12.33%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the business posted $0.96 EPS. SS&C Technologies’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that SS&C Technologies will post 4.62 earnings per share for the current year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.96 annualized dividend and a dividend yield of 1.30%. SS&C Technologies’s dividend payout ratio (DPR) is currently 38.25%.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 7,500 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $60.46, for a total transaction of $453,450.00. Following the sale, the director now directly owns 41,576 shares of the company’s stock, valued at approximately $2,513,684.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 32,500 shares of company stock valued at $2,027,750. Corporate insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On SS&C Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in SS&C Technologies by 14.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $79,000 after buying an additional 166 shares during the last quarter. Quent Capital LLC raised its holdings in shares of SS&C Technologies by 76.8% during the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after acquiring an additional 172 shares in the last quarter. Carret Asset Management LLC grew its stake in shares of SS&C Technologies by 2.5% in the 4th quarter. Carret Asset Management LLC now owns 7,070 shares of the technology company’s stock valued at $432,000 after buying an additional 175 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in SS&C Technologies by 0.4% in the first quarter. IFM Investors Pty Ltd now owns 47,246 shares of the technology company’s stock worth $3,041,000 after purchasing an additional 190 shares in the last quarter. Finally, Scotia Capital Inc. raised its stake in shares of SS&C Technologies by 0.3% in the 4th quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock valued at $3,369,000 after acquiring an additional 191 shares in the last quarter. 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.