SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $96.00

SS&C Technologies (NASDAQ:SSNC) had its price target lifted by Royal Bank of Canada from $86.00 to $96.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other analysts have also issued research reports about the stock. UBS Group lifted their price objective on shares of SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. 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 report on Friday. Jefferies Financial Group raised SS&C Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $70.00 to $94.00 in a research report on Monday, February 3rd. Finally, DA Davidson reiterated a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, SS&C Technologies has an average rating of “Buy” and an average price target of $88.25.

SS&C Technologies Price Performance

Shares of NASDAQ:SSNC opened at $86.71 on Friday. SS&C Technologies has a 1-year low of $59.53 and a 1-year high of $87.50. 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 stock has a market cap of $21.48 billion, a PE ratio of 28.90 and a beta of 1.38. The stock’s fifty day simple moving average is $77.69 and its two-hundred day simple moving average is $75.08.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, February 6th. The technology company reported $1.41 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%. As a group, analysts forecast that SS&C Technologies will post 5.26 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. SS&C Technologies’s dividend payout ratio (DPR) is currently 33.33%.

Insider Buying and Selling

In other SS&C Technologies news, CEO William C. Stone sold 132,700 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 31,837,926 shares in the company, valued at $2,446,744,613.10. This represents a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Douglas White sold 69,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total value of $5,317,830.00. Following the completion of the sale, the senior vice president now directly owns 6,412 shares in the company, valued at approximately $494,172.84. The trade was a 91.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 449,000 shares of company stock valued at $34,461,478. Company insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On SS&C Technologies

Several hedge funds have recently added to or reduced their stakes in the company. Creative Planning boosted its stake in SS&C Technologies by 9.9% in the second quarter. Creative Planning now owns 8,131 shares of the technology company’s stock worth $510,000 after buying an additional 735 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of SS&C Technologies by 285.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,237 shares of the technology company’s stock worth $140,000 after buying an additional 1,657 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of SS&C Technologies by 183.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,225 shares of the technology company’s stock valued at $641,000 after acquiring an additional 6,624 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in SS&C Technologies by 19.0% during the 3rd quarter. Park Avenue Securities LLC now owns 3,990 shares of the technology company’s stock valued at $296,000 after acquiring an additional 637 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of SS&C Technologies by 85.7% during the third quarter. GAMMA Investing LLC now owns 2,364 shares of the technology company’s stock valued at $175,000 after purchasing an additional 1,091 shares during the period. Institutional investors own 96.95% of the company’s stock.

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.