SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $93.00

SS&C Technologies (NASDAQ:SSNC) had its price target boosted by UBS Group from $92.00 to $93.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other brokerages also recently weighed in on SSNC. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $70.00 to $94.00 in a research report on Monday. DA Davidson reiterated a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a research report on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research report on Friday, October 25th. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Raymond James increased their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $83.88.

SS&C Technologies Stock Performance

SS&C Technologies stock opened at $81.82 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies has a 1 year low of $59.53 and a 1 year high of $82.40. The company has a market cap of $20.27 billion, a PE ratio of 29.33 and a beta of 1.38. The company’s 50-day moving average is $77.42 and its two-hundred day moving average is $74.80.

SS&C Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. SS&C Technologies’s dividend payout ratio is currently 35.84%.

Insider Transactions at SS&C Technologies

In other news, CEO William C. Stone sold 132,700 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $76.85, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jason Douglas White sold 69,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total value of $5,317,830.00. Following the completion of the sale, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at approximately $494,172.84. The trade was 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 in the last ninety days. 15.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SS&C Technologies

Several hedge funds have recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC lifted its holdings in SS&C Technologies by 2.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 6,400 shares of the technology company’s stock valued at $475,000 after purchasing an additional 137 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in SS&C Technologies by 11.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,417 shares of the technology company’s stock valued at $107,000 after purchasing an additional 149 shares during the last quarter. Legacy Capital Group California Inc. lifted its holdings in SS&C Technologies by 5.8% during the 4th quarter. Legacy Capital Group California Inc. now owns 3,003 shares of the technology company’s stock valued at $228,000 after purchasing an additional 164 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in SS&C Technologies by 5.6% during the 4th quarter. Foundations Investment Advisors LLC now owns 3,249 shares of the technology company’s stock valued at $246,000 after purchasing an additional 171 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of SS&C Technologies by 0.4% during the third quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the technology company’s stock worth $3,435,000 after buying an additional 196 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

About SS&C Technologies

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.