SSNC has been the subject of a number of other reports. Zacks Investment Research cut SS&C Technologies from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Morgan Stanley raised their price objective on SS&C Technologies from $42.00 to $44.00 and gave the company an overweight rating in a research report on Thursday, October 26th. Needham & Company LLC reissued a buy rating and set a $44.00 price target (up from $42.00) on shares of SS&C Technologies in a report on Sunday, July 30th. Jefferies Group reissued a buy rating on shares of SS&C Technologies in a report on Tuesday, October 3rd. Finally, Citigroup raised SS&C Technologies to a strong-buy rating and lifted their price target for the stock from $43.00 to $46.00 in a report on Tuesday, November 21st. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $42.50.
SS&C Technologies (SSNC) traded up $0.46 during trading hours on Tuesday, hitting $40.56. The company had a trading volume of 547,999 shares, compared to its average volume of 1,001,104. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $8,368.24, a P/E ratio of 23.23, a PEG ratio of 1.55 and a beta of 1.08. SS&C Technologies has a fifty-two week low of $28.43 and a fifty-two week high of $42.48.
SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.50 EPS for the quarter, meeting the 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 during the quarter, compared to analysts’ expectations of $424.14 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. research analysts anticipate that SS&C Technologies will post 1.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, November 30th. SS&C Technologies’s dividend payout ratio (DPR) is 26.67%.
In other SS&C Technologies news, CFO Patrick J. Pedonti sold 30,000 shares of SS&C Technologies stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $40.38, for a total transaction of $1,211,400.00. Following the transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $1,211,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Patrick J. Pedonti sold 20,000 shares of SS&C Technologies stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $40.69, for a total value of $813,800.00. Following the transaction, the chief financial officer now directly owns 17,500 shares in the company, valued at $712,075. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,000 shares of company stock worth $2,818,200. 17.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of SSNC. Janus Henderson Group PLC increased its holdings in SS&C Technologies by 5,137.5% during the 2nd quarter. Janus Henderson Group PLC now owns 20,123,345 shares of the technology company’s stock worth $772,938,000 after purchasing an additional 19,739,127 shares in the last quarter. Vanguard Group Inc. increased its holdings in SS&C Technologies by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 13,793,410 shares of the technology company’s stock worth $529,806,000 after purchasing an additional 343,969 shares in the last quarter. BlackRock Inc. increased its holdings in SS&C Technologies by 4.5% during the 2nd quarter. BlackRock Inc. now owns 8,606,133 shares of the technology company’s stock worth $330,563,000 after purchasing an additional 373,193 shares in the last quarter. State Street Corp increased its holdings in SS&C Technologies by 20.9% during the 2nd quarter. State Street Corp now owns 3,012,292 shares of the technology company’s stock worth $115,706,000 after purchasing an additional 521,727 shares in the last quarter. Finally, Burgundy Asset Management Ltd. grew its holdings in shares of SS&C Technologies by 2.6% in the third quarter. Burgundy Asset Management Ltd. now owns 2,652,366 shares of the technology company’s stock valued at $106,492,000 after acquiring an additional 68,110 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.
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SS&C Technologies Company Profile
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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