SS&C Technologies (NASDAQ:SSNC) PT Raised to $90.00

SS&C Technologies (NASDAQ:SSNC) had its price objective raised by Needham & Company LLC from $81.00 to $90.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other equities research analysts have also commented on the company. Royal Bank of Canada increased their price target on SS&C Technologies from $72.00 to $75.00 and gave the stock an outperform rating in a research report on Friday, July 26th. DA Davidson increased their target price on SS&C Technologies from $84.00 to $88.00 and gave the stock a buy rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies presently has a consensus rating of Moderate Buy and a consensus price target of $73.75.

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC opened at $75.53 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. The business’s fifty day moving average price is $72.07 and its two-hundred day moving average price is $65.76. SS&C Technologies has a fifty-two week low of $46.61 and a fifty-two week high of $76.94. The stock has a market capitalization of $18.68 billion, a price-to-earnings ratio of 30.09 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $0.96 EPS. As a group, analysts predict that SS&C Technologies will post 4.66 EPS for the current fiscal year.

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

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio is 39.84%.

Insiders Place Their Bets

In other news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $678,172.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction on 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. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the sale, the director now owns 333,576 shares of the company’s stock, valued at approximately $25,144,958.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 590,690 shares of company stock worth $43,377,625. Insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

Institutional investors have recently modified their holdings of the business. Principal Securities Inc. bought a new stake in SS&C Technologies during the 4th quarter worth approximately $53,000. Janney Montgomery Scott LLC increased its position in shares of SS&C Technologies by 1.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 45,989 shares of the technology company’s stock worth $2,811,000 after acquiring an additional 559 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of SS&C Technologies by 30.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,252 shares of the technology company’s stock worth $138,000 after acquiring an additional 531 shares during the period. Brown Advisory Inc. bought a new stake in SS&C Technologies in the 4th quarter valued at $231,000. Finally, ING Groep NV acquired a new position in SS&C Technologies in the 4th quarter worth $367,000. 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.