DA Davidson Has Lowered Expectations for SS&C Technologies (NASDAQ:SSNC) Stock Price

SS&C Technologies (NASDAQ:SSNC) had its target price trimmed by DA Davidson from $100.00 to $94.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other analysts have also recently weighed in on the company. Needham & Company LLC lowered their price target on SS&C Technologies from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $86.00 target price (down previously from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, April 25th. Royal Bank of Canada boosted their price target on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Raymond James dropped their price objective on shares of SS&C Technologies from $95.00 to $90.00 and set a “strong-buy” rating for the company in a report on Friday, April 25th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $91.86.

SS&C Technologies Price Performance

Shares of NASDAQ:SSNC opened at $75.60 on Monday. The firm has a market capitalization of $18.63 billion, a PE ratio of 25.20 and a beta of 1.31. 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 $60.01 and a 1-year high of $89.73. The business’s 50 day moving average is $80.39 and its 200-day moving average is $78.54.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.03. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $1.28 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts predict that SS&C Technologies will post 5.35 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, March 3rd. SS&C Technologies’s dividend payout ratio is currently 31.06%.

Insider Buying and Selling

In other news, SVP Jason Douglas White sold 71,000 shares of SS&C Technologies stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total value of $6,316,160.00. Following the completion of the sale, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at approximately $570,411.52. This trade represents a 91.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Jay Zamkow sold 23,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total value of $2,032,970.00. Following the transaction, the director now directly owns 23,200 shares in the company, valued at $2,050,648. This trade represents a 49.78 % decrease in their position. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SS&C Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Boston Partners increased its holdings in SS&C Technologies by 283.1% in the fourth quarter. Boston Partners now owns 5,279,386 shares of the technology company’s stock valued at $400,161,000 after purchasing an additional 3,901,227 shares during the last quarter. Norges Bank bought a new position in SS&C Technologies in the fourth quarter valued at approximately $205,475,000. Bank of America Corp DE lifted its position in SS&C Technologies by 64.9% in the 4th quarter. Bank of America Corp DE now owns 2,235,142 shares of the technology company’s stock valued at $169,379,000 after acquiring an additional 880,058 shares in the last quarter. Senator Investment Group LP lifted its holdings in shares of SS&C Technologies by 133.7% in the fourth quarter. Senator Investment Group LP now owns 1,519,175 shares of the technology company’s stock valued at $115,123,000 after purchasing an additional 869,175 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in SS&C Technologies by 52.4% during the 4th quarter. AQR Capital Management LLC now owns 2,270,232 shares of the technology company’s stock worth $172,038,000 after acquiring an additional 780,616 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Company Profile

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.