SS&C Technologies (NASDAQ:SSNC) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a buy rating to a strong-buy rating in a research note released on Monday morning.

Other equities research analysts have also issued research reports about the stock. UBS Group increased their price objective on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Royal Bank of Canada increased their target price 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. Raymond James increased their target price on shares of 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. Needham & Company LLC increased their target price on shares of SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $70.00 to $94.00 in a research report on Monday, February 3rd. One research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $89.50.

SS&C Technologies Price Performance

Shares of NASDAQ SSNC opened at $88.09 on Monday. The firm’s 50-day moving average price is $78.32 and its 200-day moving average price is $75.41. SS&C Technologies has a 1-year low of $59.53 and a 1-year high of $88.22. The firm has a market capitalization of $21.82 billion, a P/E ratio of 29.36 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.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, beating 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%. Equities research analysts anticipate that SS&C Technologies will post 5.26 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, December 2nd. SS&C Technologies’s dividend payout ratio is currently 33.33%.

Insider Transactions at SS&C Technologies

In other SS&C Technologies 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 value of $5,317,830.00. Following the completion of the sale, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at $494,172.84. The trade was a 91.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William C. Stone sold 247,300 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the completion of the sale, the chief executive officer now directly owns 31,837,926 shares of the company’s stock, valued at $2,439,103,510.86. This represents a 0.77 % 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 valued at $34,461,478. Insiders own 15.40% of the company’s stock.

Institutional Trading of SS&C Technologies

Hedge funds have recently added to or reduced their stakes in the business. ExodusPoint Capital Management LP bought a new position in shares of SS&C Technologies during the fourth quarter valued at about $3,583,000. Grant Private Wealth Management Inc bought a new position in shares of SS&C Technologies during the fourth quarter valued at about $252,000. Motley Fool Asset Management LLC raised its stake in shares of SS&C Technologies by 8.4% during the fourth quarter. Motley Fool Asset Management LLC now owns 3,648 shares of the technology company’s stock valued at $276,000 after acquiring an additional 282 shares during the last quarter. World Investment Advisors raised its stake in shares of SS&C Technologies by 8.2% during the fourth quarter. World Investment Advisors now owns 12,522 shares of the technology company’s stock valued at $949,000 after acquiring an additional 944 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of SS&C Technologies by 1.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 157,494 shares of the technology company’s stock valued at $11,935,000 after acquiring an additional 1,674 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.