DA Davidson Raises SS&C Technologies (NASDAQ:SSNC) Price Target to $92.00

SS&C Technologies (NASDAQ:SSNC) had its price target hoisted by DA Davidson from $88.00 to $92.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

SSNC has been the subject of several other reports. Needham & Company LLC increased their price objective on SS&C Technologies from $81.00 to $90.00 and gave the company a buy rating in a report on Thursday, September 19th. Royal Bank of Canada increased their price target on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an outperform rating in a research note on Thursday, September 19th. Three investment 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 stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $73.75.

SS&C Technologies Trading Down 0.3 %

NASDAQ:SSNC opened at $75.27 on Friday. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $76.94. The stock has a market cap of $18.62 billion, a P/E ratio of 29.99 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a 50-day simple moving average of $72.24 and a 200-day simple moving average of $65.85.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm posted $0.96 EPS. The company’s revenue was up 6.5% on a year-over-year basis. As a group, analysts anticipate that SS&C Technologies will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.33%. The ex-dividend date was Tuesday, September 3rd. SS&C Technologies’s dividend payout ratio is currently 39.84%.

SS&C Technologies announced that its board has authorized a share buyback plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the sale, the director now directly owns 9,576 shares in the company, valued at approximately $678,172.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the 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 owns 57,642 shares in the company, valued at approximately $4,215,359.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now directly owns 9,576 shares of the company’s stock, valued at $678,172.32. The disclosure for this sale can be found here. Insiders sold 590,690 shares of company stock worth $43,377,625 in the last 90 days. 15.40% of the stock is currently owned by corporate insiders.

Institutional Trading of SS&C Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SSNC. Principal Securities Inc. purchased a new stake in shares of SS&C Technologies during the fourth quarter worth about $53,000. Janney Montgomery Scott LLC raised its holdings in SS&C Technologies by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 45,989 shares of the technology company’s stock valued at $2,811,000 after acquiring an additional 559 shares during the last quarter. Brown Advisory Inc. purchased a new position in shares of SS&C Technologies during the 4th quarter worth $231,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of SS&C Technologies by 377.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,943 shares of the technology company’s stock worth $180,000 after purchasing an additional 2,326 shares during the period. Finally, UBS Group AG boosted its holdings in shares of SS&C Technologies by 24.5% during the fourth quarter. UBS Group AG now owns 401,090 shares of the technology company’s stock worth $24,511,000 after purchasing an additional 79,029 shares during the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

About SS&C Technologies

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.