DA Davidson Boosts SS&C Technologies (NASDAQ:SSNC) Price Target to $92.00

SS&C Technologies (NASDAQ:SSNC) had its price target hoisted by DA Davidson from $88.00 to $92.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other equities analysts also recently commented on SSNC. Royal Bank of Canada boosted their target price on shares of SS&C Technologies from $75.00 to $86.00 and gave the stock an outperform rating in a report on Thursday. Needham & Company LLC raised their price objective on SS&C Technologies from $81.00 to $90.00 and gave the company a buy rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $73.75.

SS&C Technologies Stock Performance

SSNC opened at $75.53 on Friday. The firm has a market cap of $18.68 billion, a P/E ratio of 30.09 and a beta of 1.38. SS&C Technologies has a 1-year low of $46.61 and a 1-year high of $76.94. The company has a 50 day simple moving average of $72.07 and a two-hundred day simple moving average of $65.76. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. Equities analysts forecast that SS&C Technologies will post 4.66 earnings per share for the current fiscal year.

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

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.25 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio is currently 39.84%.

Insider Buying and Selling

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the completion of the transaction, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value of $30,143,454.70. Following the sale, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Normand A. Boulanger sold 130,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the sale, the director now directly owns 333,576 shares of the company’s stock, valued at $25,144,958.88. The disclosure for this sale can be found here. Insiders have sold 590,690 shares of company stock valued at $43,377,625 in the last ninety days. 15.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On SS&C Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Securities Inc. purchased a new stake in shares of SS&C Technologies in the fourth quarter valued at approximately $53,000. Janney Montgomery Scott LLC increased its holdings in SS&C Technologies by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 45,989 shares of the technology company’s stock worth $2,811,000 after purchasing an additional 559 shares during the period. Brown Advisory Inc. bought a new stake in SS&C Technologies during the 4th quarter valued at $231,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of SS&C Technologies by 377.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,943 shares of the technology company’s stock worth $180,000 after buying an additional 2,326 shares during the period. Finally, UBS Group AG grew its position in shares of SS&C Technologies by 24.5% during the 4th quarter. UBS Group AG now owns 401,090 shares of the technology company’s stock worth $24,511,000 after buying an additional 79,029 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors.

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.