Royal Bank of Canada Boosts SS&C Technologies (NASDAQ:SSNC) Price Target to $96.00

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

A number of other brokerages also recently issued reports on SSNC. DA Davidson restated a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. UBS Group raised their target price on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. StockNews.com lowered SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Raymond James raised their price objective on SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a research report on Friday. Finally, Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $70.00 to $94.00 in a research report on Monday, February 3rd. One investment 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 MarketBeat.com, the company has an average rating of “Buy” and an average target price of $88.25.

SS&C Technologies Stock Performance

Shares of SS&C Technologies stock opened at $86.71 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The business’s 50 day moving average price is $77.51 and its 200 day moving average price is $74.84. The company has a market cap of $21.48 billion, a price-to-earnings ratio of 28.90 and a beta of 1.38. SS&C Technologies has a one year low of $59.53 and a one year high of $87.50.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results 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%. On average, research analysts predict that SS&C Technologies will post 5.26 EPS for the current year.

SS&C Technologies Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies 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 completion of the transaction, the senior vice president now owns 6,412 shares in the company, valued at approximately $494,172.84. This trade represents a 91.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William C. Stone sold 132,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $76.85, for a total transaction of $10,197,995.00. Following the sale, the chief executive officer now owns 31,837,926 shares in the company, valued at $2,446,744,613.10. The trade was a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 449,000 shares of company stock worth $34,461,478 in the last ninety days. 15.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SS&C Technologies

A number of large investors have recently modified their holdings of SSNC. Steward Partners Investment Advisory LLC grew its stake in shares of SS&C Technologies by 16.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 885 shares of the technology company’s stock worth $67,000 after purchasing an additional 123 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in shares of SS&C Technologies by 2.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 6,400 shares of the technology company’s stock worth $475,000 after acquiring an additional 137 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of SS&C Technologies by 11.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,417 shares of the technology company’s stock worth $107,000 after acquiring an additional 149 shares in the last quarter. Legacy Capital Group California Inc. increased its holdings in shares of SS&C Technologies by 5.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 3,003 shares of the technology company’s stock valued at $228,000 after acquiring an additional 164 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its stake in SS&C Technologies by 5.6% during the fourth quarter. Foundations Investment Advisors LLC now owns 3,249 shares of the technology company’s stock worth $246,000 after purchasing an additional 171 shares during the last quarter. 96.95% of the stock is owned by hedge funds and other 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.