SS&C Technologies (SSNC) Trading 5.6% Higher on Analyst Upgrade

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) traded up 5.6% on Friday after Royal Bank of Canada raised their price target on the stock to $60.00. Royal Bank of Canada currently has an outperform rating on the stock. SS&C Technologies traded as high as $51.39 and last traded at $50.34. 10,347,900 shares changed hands during trading, an increase of 240% from the average session volume of 3,041,638 shares. The stock had previously closed at $47.69.

A number of other equities research analysts have also weighed in on SSNC. DA Davidson lifted their target price on SS&C Technologies to $54.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised SS&C Technologies from a “neutral” rating to an “overweight” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price (up from $44.00) on shares of SS&C Technologies in a research report on Friday. Zacks Investment Research raised SS&C Technologies from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Saturday, January 6th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of SS&C Technologies in a research report on Friday. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $48.18.

In other news, CFO Patrick J. Pedonti sold 20,000 shares of SS&C Technologies stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $39.65, for a total value of $793,000.00. Following the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $793,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 60,000 shares of company stock worth $2,414,600 over the last quarter. Company insiders own 17.60% of the company’s stock.

Several large investors have recently made changes to their positions in SSNC. Advisor Group Inc. increased its holdings in shares of SS&C Technologies by 14.3% in the 2nd quarter. Advisor Group Inc. now owns 2,780 shares of the technology company’s stock valued at $106,000 after acquiring an additional 348 shares during the period. QS Investors LLC increased its holdings in shares of SS&C Technologies by 165.7% in the 2nd quarter. QS Investors LLC now owns 4,810 shares of the technology company’s stock valued at $185,000 after acquiring an additional 3,000 shares during the period. SG Americas Securities LLC increased its holdings in shares of SS&C Technologies by 46.2% in the 2nd quarter. SG Americas Securities LLC now owns 4,902 shares of the technology company’s stock valued at $188,000 after acquiring an additional 1,550 shares during the period. ProShare Advisors LLC purchased a new position in shares of SS&C Technologies in the 2nd quarter valued at $240,000. Finally, Achmea Investment Management B.V. purchased a new position in shares of SS&C Technologies in the 2nd quarter valued at $247,000. Institutional investors and hedge funds own 86.13% of the company’s stock.

The stock has a market capitalization of $10,180.00, a price-to-earnings ratio of 47.11, a PEG ratio of 1.66 and a beta of 1.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.96 and a current ratio of 0.96.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Wednesday, October 25th. The technology company reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. SS&C Technologies had a return on equity of 15.32% and a net margin of 13.47%. The firm had revenue of $419.60 million for the quarter, compared to the consensus estimate of $424.14 million. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. equities research analysts expect that SS&C Technologies Holdings, Inc. will post 1.78 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.28 annualized dividend and a yield of 0.57%. SS&C Technologies’s dividend payout ratio (DPR) is 26.67%.

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About SS&C Technologies

SS&C Technologies Holdings, Inc is a holding company. The Company is a provider of software products and software-enabled services that allow financial services providers to automate complex business processes and manage their information processing requirements. The Company’s portfolio of software products and software-enabled services allows its clients to automate and integrate front-office functions, such as trading and modeling, middle-office functions, such as portfolio management and reporting, and back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing.

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