SS&C Technologies (NASDAQ:SSNC) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a buy rating to a strong-buy rating in a research note published on Tuesday.

Several other equities analysts have also recently weighed in on SSNC. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a report on Friday, October 25th. DA Davidson restated a “buy” rating and issued a $92.00 price target on shares of SS&C Technologies in a research note on Thursday, October 10th. Royal Bank of Canada upped their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, Raymond James raised their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of “Buy” and a consensus price target of $77.75.

SS&C Technologies Trading Up 1.6 %

NASDAQ SSNC opened at $71.90 on Tuesday. SS&C Technologies has a 52 week low of $51.72 and a 52 week high of $77.02. 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 stock’s 50 day moving average price is $73.96 and its two-hundred day moving average price is $68.27. The stock has a market capitalization of $17.81 billion, a price-to-earnings ratio of 25.77 and a beta of 1.39.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 earnings per share. As a group, analysts anticipate that SS&C Technologies will post 4.62 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.39%. SS&C Technologies’s dividend payout ratio (DPR) is currently 35.84%.

SS&C Technologies declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the transaction, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 of the company’s stock, valued at approximately $678,172.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Jay Zamkow sold 19,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares of the company’s stock, valued at $1,715,098.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 609,690 shares of company stock worth $44,821,055. 15.40% of the stock is owned by insiders.

Institutional Investors Weigh In On SS&C Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC raised its stake in SS&C Technologies by 7.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 8,439 shares of the technology company’s stock worth $543,000 after purchasing an additional 597 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of SS&C Technologies by 1.5% in the first quarter. Janney Montgomery Scott LLC now owns 46,672 shares of the technology company’s stock valued at $3,004,000 after buying an additional 683 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of SS&C Technologies in the first quarter valued at approximately $75,000. BI Asset Management Fondsmaeglerselskab A S grew its position in SS&C Technologies by 52.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,475 shares of the technology company’s stock worth $288,000 after buying an additional 1,532 shares in the last quarter. Finally, Mitchell Capital Management Co. increased its stake in SS&C Technologies by 3.2% during the 1st quarter. Mitchell Capital Management Co. now owns 66,908 shares of the technology company’s stock worth $4,307,000 after acquiring an additional 2,062 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Company Profile

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.