SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Given Average Rating of “Moderate Buy” by Analysts

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $77.75.

A number of brokerages have recently issued reports on SSNC. Royal Bank of Canada raised their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. DA Davidson reissued a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a report on Friday, October 25th. Raymond James lifted their price target on 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. Finally, StockNews.com cut shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th.

Insider Buying and Selling at SS&C Technologies

In related news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the sale, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the transaction, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Smita Conjeevaram sold 48,500 shares of the 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 completion of the sale, the director now owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock valued at $44,821,055 over the last three months. 15.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Pzena Investment Management LLC lifted its position in shares of 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 period. Diamond Hill Capital Management Inc. raised its position in shares of 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 valued at $488,746,000 after purchasing an additional 53,080 shares during the period. Burgundy Asset Management Ltd. lifted its holdings in SS&C Technologies by 4.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock worth $309,739,000 after purchasing an additional 201,632 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in SS&C Technologies by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,860,256 shares of the technology company’s stock valued at $248,485,000 after acquiring an additional 25,183 shares in the last quarter. Finally, Millennium Management LLC grew its position in SS&C Technologies by 49.2% during the second quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock worth $213,070,000 after buying an additional 1,120,961 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors.

SS&C Technologies Stock Up 0.7 %

NASDAQ SSNC opened at $70.40 on Friday. SS&C Technologies has a one year low of $49.51 and a one year high of $77.02. 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 stock’s 50 day simple moving average is $74.14 and its 200 day simple moving average is $67.94. The firm has a market cap of $17.28 billion, a PE ratio of 25.23 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.62% and a net margin of 12.26%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm posted $1.04 EPS. The business’s revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts forecast that SS&C Technologies will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies announced that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio (DPR) is 35.84%.

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.