SS&C Technologies (NASDAQ:SSNC) Sets New 52-Week High After Analyst Upgrade

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) hit a new 52-week high during mid-day trading on Monday after UBS Group raised their price target on the stock from $92.00 to $93.00. UBS Group currently has a buy rating on the stock. SS&C Technologies traded as high as $81.99 and last traded at $81.94, with a volume of 435726 shares traded. The stock had previously closed at $80.95.

Several other equities analysts have also issued reports on SSNC. StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $94.00 in a report on Monday. Raymond James lifted their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a report on Friday, October 25th. DA Davidson reissued a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, SS&C Technologies has an average rating of “Buy” and an average price target of $83.88.

Insider Transactions at SS&C Technologies

In related news, CEO William C. Stone sold 132,700 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $76.85, for a total transaction of $10,197,995.00. Following the completion of the sale, the chief executive officer now owns 31,837,926 shares of the company’s stock, valued at approximately $2,446,744,613.10. This represents a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jason Douglas White sold 69,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the sale, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at approximately $494,172.84. This represents a 91.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 449,000 shares of company stock valued at $34,461,478 over the last 90 days. Corporate insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. SkyView Investment Advisors LLC lifted its holdings in shares of SS&C Technologies by 2.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 6,400 shares of the technology company’s stock worth $475,000 after acquiring an additional 137 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of SS&C Technologies by 11.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,417 shares of the technology company’s stock worth $107,000 after acquiring an additional 149 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of SS&C Technologies by 5.6% in the 4th quarter. Foundations Investment Advisors LLC now owns 3,249 shares of the technology company’s stock worth $246,000 after acquiring an additional 171 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of SS&C Technologies by 0.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the technology company’s stock worth $3,435,000 after acquiring an additional 196 shares during the last quarter. Finally, Tectonic Advisors LLC increased its stake in SS&C Technologies by 2.9% during the 3rd quarter. Tectonic Advisors LLC now owns 7,064 shares of the technology company’s stock worth $524,000 after buying an additional 198 shares during the period. 96.95% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Stock Performance

The firm’s 50 day moving average is $77.15 and its two-hundred day moving average is $74.54. The stock has a market capitalization of $20.29 billion, a PE ratio of 29.37 and a beta of 1.38. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21.

SS&C Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, December 2nd. SS&C Technologies’s dividend payout ratio is presently 35.84%.

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.