SS&C Technologies (NASDAQ:SSNC) Receives “Buy” Rating from DA Davidson

DA Davidson restated their buy rating on shares of SS&C Technologies (NASDAQ:SSNC) in a research note released on Thursday morning, Benzinga reports. They currently have a $92.00 price target on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada upped their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an outperform rating in a report on Thursday, September 19th. Needham & Company LLC increased their target price on SS&C Technologies from $81.00 to $90.00 and gave the company a buy rating in a research note on Thursday, September 19th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $73.75.

SS&C Technologies Stock Up 1.9 %

Shares of SSNC stock opened at $75.44 on Thursday. The stock’s 50 day simple moving average is $73.44 and its 200 day simple moving average is $66.92. SS&C Technologies has a twelve month low of $46.61 and a twelve month high of $76.94. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $18.51 billion, a price-to-earnings ratio of 27.43 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 earnings per share. As a group, research analysts predict that SS&C Technologies will post 4.66 EPS for the current 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 represents a $1.00 dividend on an annualized basis and a yield of 1.33%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is currently 36.36%.

SS&C Technologies declared that its board has approved a share repurchase program on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at SS&C Technologies

In related news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were 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 owns 9,576 shares of the company’s stock, valued at $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction dated 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 owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies 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 transaction, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 609,690 shares of company stock valued at $44,821,055. Company insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SSNC. Wedge Capital Management L L P NC increased its holdings in SS&C Technologies by 0.4% during the 3rd 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 in the last quarter. Meyer Handelman Co. grew its holdings in shares of SS&C Technologies by 6.7% during the third quarter. Meyer Handelman Co. now owns 66,092 shares of the technology company’s stock worth $4,905,000 after purchasing an additional 4,157 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of SS&C Technologies during the third quarter worth $89,000. USA Financial Formulas acquired a new stake in shares of SS&C Technologies in the third quarter valued at $304,000. Finally, CWM LLC raised its holdings in shares of SS&C Technologies by 70.4% in the third quarter. CWM LLC now owns 13,274 shares of the technology company’s stock valued at $985,000 after buying an additional 5,482 shares during the last quarter. 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.