SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $106.00

SS&C Technologies (NASDAQ:SSNC) had its target price boosted by DA Davidson from $102.00 to $106.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other equities analysts have also recently weighed in on SSNC. Weiss Ratings restated a “buy (b)” rating on shares of SS&C Technologies in a report on Wednesday, October 8th. Needham & Company LLC increased their price objective on shares of SS&C Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, October 24th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of SS&C Technologies in a report on Wednesday. Wall Street Zen raised shares of SS&C Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Finally, Royal Bank Of Canada boosted their price objective on shares of SS&C Technologies from $97.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.25.

SS&C Technologies Price Performance

SSNC opened at $85.31 on Thursday. The stock’s 50-day moving average price is $86.45 and its 200 day moving average price is $86.10. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 25.31 and a beta of 1.19. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.94. SS&C Technologies has a 12-month low of $69.61 and a 12-month high of $91.07.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, October 23rd. The technology company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.47 by $0.10. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.55 billion. SS&C Technologies had a net margin of 13.86% and a return on equity of 19.80%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 EPS. As a group, sell-side analysts expect that SS&C Technologies will post 5.35 earnings per share for the current year.

SS&C Technologies Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, December 1st. SS&C Technologies’s dividend payout ratio (DPR) is currently 32.05%.

Insider Activity at SS&C Technologies

In related news, Director Normand A. Boulanger sold 150,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $85.85, for a total transaction of $12,877,500.00. Following the completion of the transaction, the director directly owned 386,924 shares in the company, valued at approximately $33,217,425.40. This trade represents a 27.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SSNC. Norges Bank bought a new position in SS&C Technologies during the 2nd quarter worth $221,558,000. Alliancebernstein L.P. raised its holdings in shares of SS&C Technologies by 503.0% during the third quarter. Alliancebernstein L.P. now owns 1,261,559 shares of the technology company’s stock valued at $111,976,000 after purchasing an additional 1,052,331 shares during the period. Junto Capital Management LP bought a new stake in shares of SS&C Technologies during the third quarter worth about $89,281,000. Robeco Institutional Asset Management B.V. boosted its holdings in SS&C Technologies by 87.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,787,419 shares of the technology company’s stock worth $147,998,000 after purchasing an additional 834,393 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new stake in SS&C Technologies in the third quarter worth about $64,795,000. 96.90% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Company Profile

SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.

SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.