SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $75.00

SS&C Technologies (NASDAQ:SSNC) had its price target raised by Royal Bank of Canada from $72.00 to $75.00 in a research report report published on Friday, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other research analysts have also recently weighed in on the stock. Jefferies Financial Group boosted their target price on shares of SS&C Technologies from $54.00 to $61.00 and gave the company a hold rating in a research note on Monday, April 29th. DA Davidson increased their target price on shares of SS&C Technologies from $78.00 to $84.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Finally, Needham & Company LLC lifted their price objective on shares of SS&C Technologies from $74.00 to $81.00 and gave the company a buy rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, SS&C Technologies has an average rating of Moderate Buy and a consensus price target of $70.75.

SS&C Technologies Trading Up 1.9 %

Shares of SSNC stock opened at $73.66 on Friday. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $73.79. The company has a 50-day simple moving average of $63.48 and a two-hundred day simple moving average of $62.72. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $18.22 billion, a price-to-earnings ratio of 29.35 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.07. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. SS&C Technologies had a return on equity of 17.52% and a net margin of 12.33%. During the same period in the prior year, the company posted $0.96 earnings per share. SS&C Technologies’s quarterly revenue was up 6.5% on a year-over-year basis. Research analysts anticipate that SS&C Technologies will post 4.62 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Monday, June 3rd. SS&C Technologies’s payout ratio is 38.25%.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 7,500 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $60.46, for a total transaction of $453,450.00. Following the completion of the transaction, the director now owns 41,576 shares of the company’s stock, valued at $2,513,684.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 32,500 shares of company stock worth $2,027,750 in the last ninety days. 15.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SS&C Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Peregrine Capital Management LLC increased its stake in SS&C Technologies by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 260,606 shares of the technology company’s stock valued at $16,332,000 after acquiring an additional 3,398 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of SS&C Technologies during the 2nd quarter valued at about $26,000. Panagora Asset Management Inc. lifted its position in SS&C Technologies by 31.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 937,660 shares of the technology company’s stock worth $58,763,000 after buying an additional 226,984 shares during the last quarter. Burney Co. boosted its stake in SS&C Technologies by 1.1% in the second quarter. Burney Co. now owns 185,826 shares of the technology company’s stock worth $11,646,000 after buying an additional 1,953 shares in the last quarter. Finally, Skylands Capital LLC grew its position in SS&C Technologies by 7.0% during the second quarter. Skylands Capital LLC now owns 72,150 shares of the technology company’s stock valued at $4,522,000 after acquiring an additional 4,725 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Company Profile

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.