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%.
TRADEMARK VIOLATION NOTICE: This story was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2018/01/14/ssc-technologies-ssnc-trading-5-6-higher-on-analyst-upgrade.html.
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.
Receive News & Ratings for SS&C Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SS&C Technologies and related companies with MarketBeat.com's FREE daily email newsletter.