Analysts’ Weekly Ratings Changes for SS&C Technologies (SSNC)

Several brokerages have updated their recommendations and price targets on shares of SS&C Technologies (NASDAQ: SSNC) in the last few weeks:

• 11/5/2024 – SS&C Technologies was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 10/28/2024 – SS&C Technologies was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 10/25/2024 – SS&C Technologies had its price target raised by analysts at Raymond James from $79.00 to $85.00. They now have a “strong-buy” rating on the stock.
• 10/25/2024 – SS&C Technologies had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $90.00 price target on the stock.
• 10/10/2024 – SS&C Technologies had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $92.00 price target on the stock.
• 9/20/2024 – SS&C Technologies had its price target raised by analysts at DA Davidson from $88.00 to $92.00. They now have a “buy” rating on the stock.
• 9/19/2024 – SS&C Technologies had its price target raised by analysts at Royal Bank of Canada from $75.00 to $86.00. They now have an “outperform” rating on the stock.
• 9/19/2024 – SS&C Technologies had its price target raised by analysts at Needham & Company LLC from $81.00 to $90.00. They now have a “buy” rating on the stock.

SS&C Technologies Price Performance

Shares of SSNC opened at $74.85 on Thursday. SS&C Technologies Holdings, Inc. has a 1 year low of $53.46 and a 1 year high of $77.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $18.54 billion, a price-to-earnings ratio of 26.83 and a beta of 1.39. The business has a 50-day moving average of $73.98 and a 200-day moving average of $68.78.

SS&C Technologies (NASDAQ:SSNC) last issued its 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 17.33% and a net margin of 12.26%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the company posted $1.04 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts anticipate that SS&C Technologies Holdings, Inc. will post 4.62 earnings per share for the current year.

SS&C Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.25 per share. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. SS&C Technologies’s payout ratio is presently 35.84%.

Insider Activity at SS&C Technologies

In related news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction on 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 sale, the chief operating officer now directly owns 57,642 shares in the company, valued at approximately $4,215,359.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value of $30,143,454.70. Following the sale, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 561,190 shares of company stock valued at $41,386,285 over the last 90 days. Insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSNC. Innealta Capital LLC purchased a new position in shares of SS&C Technologies in the 2nd quarter worth about $26,000. Ashton Thomas Private Wealth LLC bought a new position in shares of SS&C Technologies in the 2nd quarter worth approximately $35,000. Benjamin Edwards Inc. grew its stake in shares of SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock worth $42,000 after buying an additional 204 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of SS&C Technologies by 6,300.0% in the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock worth $44,000 after buying an additional 693 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of SS&C Technologies in the 2nd quarter worth approximately $47,000. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

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.