SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Receives $70.75 Consensus PT from Brokerages

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) has earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $70.75.

A number of research firms recently issued reports on SSNC. Jefferies Financial Group boosted their target price on shares of SS&C Technologies from $54.00 to $61.00 and gave the company a “hold” rating in a report on Monday, April 29th. DA Davidson boosted their price objective on shares of SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Needham & Company LLC increased their target price on SS&C Technologies from $74.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada boosted their price target on SS&C Technologies from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, July 26th.

SS&C Technologies Trading Up 0.9 %

Shares of SS&C Technologies stock opened at $74.03 on Monday. SS&C Technologies has a fifty-two week low of $46.61 and a fifty-two week high of $74.05. The business’s fifty day moving average is $67.31 and its two-hundred day moving average is $64.14. 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 market cap of $18.17 billion, a PE ratio of 29.49 and a beta of 1.38.

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

SS&C Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is 38.25%.

Insider Buying and Selling

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the 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 completion of the sale, the chief operating officer now owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $453,450.00. Following the sale, the director now owns 41,576 shares of the company’s stock, valued at $2,513,684.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 468,190 shares of company stock valued at $34,031,675. Corporate insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC boosted its stake in SS&C Technologies by 0.3% during the 1st quarter. Pzena Investment Management LLC now owns 14,519,103 shares of the technology company’s stock valued at $934,595,000 after acquiring an additional 46,211 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in SS&C Technologies by 0.7% in the second quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock worth $488,746,000 after purchasing an additional 53,080 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in SS&C Technologies by 4.3% in the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock valued at $309,739,000 after buying an additional 201,632 shares during the last quarter. Franklin Resources Inc. raised its stake in SS&C Technologies by 1.5% during the fourth quarter. Franklin Resources Inc. now owns 3,871,753 shares of the technology company’s stock valued at $236,603,000 after buying an additional 56,002 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in SS&C Technologies by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,860,256 shares of the technology company’s stock worth $248,485,000 after buying an additional 25,183 shares during the last quarter. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

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.