SS&C Technologies (NASDAQ:SSNC) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a hold rating to a buy rating in a research report report published on Monday, Marketbeat Ratings reports. They currently have $94.00 target price on the technology company’s stock, up from their prior target price of $70.00.

Several other analysts also recently weighed in on SSNC. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a research report on Friday, October 25th. Raymond James upped their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. DA Davidson reissued a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. Finally, StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, SS&C Technologies has a consensus rating of “Buy” and an average target price of $83.88.

SS&C Technologies Price Performance

Shares of NASDAQ:SSNC opened at $81.82 on Monday. 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 firm’s 50 day moving average is $77.42 and its two-hundred day moving average is $74.80. The firm has a market capitalization of $20.27 billion, a P/E ratio of 29.33 and a beta of 1.38. SS&C Technologies has a 52 week low of $59.53 and a 52 week high of $82.40.

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Monday, December 2nd. SS&C Technologies’s dividend payout ratio is presently 35.84%.

Insider Buying and Selling

In related news, CEO William C. Stone sold 247,300 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $76.61, for a total value of $18,945,653.00. Following the completion of the transaction, the chief executive officer now owns 31,837,926 shares in the company, valued at $2,439,103,510.86. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jason Douglas White sold 69,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total value of $5,317,830.00. Following the sale, the senior vice president now 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. Insiders have sold 449,000 shares of company stock worth $34,461,478 in the last three months. 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 added to or reduced their stakes in the company. Toronto Dominion Bank lifted its holdings in shares of SS&C Technologies by 26.4% in the third quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company’s stock valued at $2,385,000 after purchasing an additional 6,721 shares in the last quarter. State Street Corp lifted its stake in SS&C Technologies by 2.2% in the 3rd quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock worth $417,370,000 after acquiring an additional 121,223 shares in the last quarter. ZWJ Investment Counsel Inc. boosted its position in SS&C Technologies by 3.5% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 330,352 shares of the technology company’s stock worth $25,034,000 after acquiring an additional 11,077 shares during the period. Benson Investment Management Company Inc. purchased a new position in SS&C Technologies during the 4th quarter valued at about $5,578,000. Finally, Swedbank AB increased its holdings in shares of SS&C Technologies by 17.5% in the 4th quarter. Swedbank AB now owns 1,753,236 shares of the technology company’s stock valued at $132,860,000 after purchasing an additional 261,275 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

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.