SS&C Technologies (NASDAQ:SSNC) Sets New 52-Week High Following Analyst Upgrade

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) hit a new 52-week high during mid-day trading on Tuesday after StockNews.com upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $87.54 and last traded at $87.22, with a volume of 110058 shares changing hands. The stock had previously closed at $87.29.

A number of other analysts also recently commented on SSNC. UBS Group boosted their target price on shares of SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Needham & Company LLC increased their price objective on SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 7th. DA Davidson raised their price objective on SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada boosted their target price on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Raymond James increased their price target on SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $89.50.

Insiders Place Their Bets

In other news, SVP Jason Douglas White sold 69,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the transaction, the senior vice president now directly owns 6,412 shares in the company, valued at $494,172.84. The trade was a 91.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William C. Stone sold 132,700 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $76.85, for a total value of $10,197,995.00. Following the sale, the chief executive officer now owns 31,837,926 shares of the company’s stock, valued at approximately $2,446,744,613.10. This represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 449,000 shares of company stock worth $34,461,478. 15.40% of the stock is currently owned by company insiders.

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. Creative Planning lifted its stake in shares of SS&C Technologies by 9.9% in the 2nd quarter. Creative Planning now owns 8,131 shares of the technology company’s stock valued at $510,000 after purchasing an additional 735 shares during the last quarter. CWM LLC raised its holdings in SS&C Technologies by 70.4% during the third quarter. CWM LLC now owns 13,274 shares of the technology company’s stock valued at $985,000 after buying an additional 5,482 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of SS&C Technologies during the 3rd quarter worth about $89,000. Wedge Capital Management L L P NC increased its holdings in shares of SS&C Technologies by 0.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 51,497 shares of the technology company’s stock valued at $3,822,000 after acquiring an additional 206 shares during the last quarter. Finally, Swedbank AB raised its stake in shares of SS&C Technologies by 1.2% in the 3rd quarter. Swedbank AB now owns 1,491,961 shares of the technology company’s stock valued at $110,718,000 after acquiring an additional 16,971 shares in the last quarter. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Trading Down 0.7 %

The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of 28.90 and a beta of 1.38. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The company has a fifty day moving average of $78.10 and a two-hundred day moving average of $75.32.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.09. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. On average, research analysts expect that SS&C Technologies Holdings, Inc. will post 5.26 EPS for the current year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. SS&C Technologies’s dividend payout ratio is presently 33.33%.

About SS&C Technologies

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.