SS&C Technologies (NASDAQ:SSNC) PT Raised to $92.00

SS&C Technologies (NASDAQ:SSNC) had its price target upped by DA Davidson from $88.00 to $92.00 in a research note released on Friday, Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

A number of other brokerages also recently commented on SSNC. Royal Bank of Canada raised their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an outperform rating in a research note on Thursday, September 19th. Needham & Company LLC raised their price objective on SS&C Technologies from $81.00 to $90.00 and gave the company a buy rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, SS&C Technologies has a consensus rating of Moderate Buy and an average target price of $73.75.

SS&C Technologies Stock Down 0.3 %

Shares of NASDAQ SSNC opened at $75.27 on Friday. The stock has a market capitalization of $18.62 billion, a PE ratio of 29.99 and a beta of 1.38. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The firm has a fifty day moving average of $72.24 and a 200-day moving average of $65.85. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $76.94.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the business posted $0.96 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts anticipate that SS&C Technologies will post 4.66 EPS for the current year.

SS&C Technologies announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the technology company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is currently 39.84%.

Insider Buying and Selling at SS&C Technologies

In other news, Director Smita Conjeevaram sold 48,500 shares of the business’s 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 completion of the sale, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 completion of the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the transaction, the chief operating officer now owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The disclosure for this sale can be found here. Insiders have sold 590,690 shares of company stock worth $43,377,625 over the last quarter. 15.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SSNC. EverSource Wealth Advisors LLC raised its stake in shares of SS&C Technologies by 14.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $79,000 after purchasing an additional 166 shares in the last quarter. Quent Capital LLC raised its position in shares of SS&C Technologies by 76.8% during the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after buying an additional 172 shares in the last quarter. Scotia Capital Inc. lifted 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 worth $3,369,000 after acquiring an additional 191 shares during the period. Summit Trail Advisors LLC boosted its holdings in shares of SS&C Technologies by 2.9% in the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock valued at $446,000 after acquiring an additional 203 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its stake in shares of SS&C Technologies by 43.3% during 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 during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

About SS&C Technologies

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.