Needham & Company LLC upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a buy rating to a strong-buy rating in a research report released on Friday, Marketbeat reports. They currently have $70.00 price target on the technology company’s stock, up from their prior price target of $68.00.
Several other brokerages have also recently weighed in on SSNC. ValuEngine upgraded SS&C Technologies from a hold rating to a buy rating in a report on Tuesday, September 4th. BidaskClub upgraded SS&C Technologies from a hold rating to a buy rating in a report on Saturday, August 25th. Zacks Investment Research cut SS&C Technologies from a buy rating to a hold rating in a report on Thursday, October 4th. DA Davidson cut SS&C Technologies from a buy rating to a neutral rating and lowered their target price for the stock from $62.00 to $60.00 in a report on Friday, September 7th. Finally, Deutsche Bank upgraded SS&C Technologies from a hold rating to a buy rating and boosted their target price for the stock from $57.00 to $72.00 in a report on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. SS&C Technologies presently has an average rating of Buy and a consensus price target of $64.36.
Shares of SS&C Technologies stock traded down $0.43 on Friday, hitting $46.53. 2,388,798 shares of the company were exchanged, compared to its average volume of 2,263,166. The stock has a market cap of $11.77 billion, a P/E ratio of 25.99, a P/E/G ratio of 1.38 and a beta of 1.21. SS&C Technologies has a 1-year low of $39.73 and a 1-year high of $60.97. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.58 and a quick ratio of 1.58.
SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Wednesday, October 31st. The technology company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The business had revenue of $992.40 million for the quarter, compared to analysts’ expectations of $1 billion. SS&C Technologies had a return on equity of 15.04% and a net margin of 7.61%. The business’s revenue for the quarter was up 137.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. As a group, research analysts expect that SS&C Technologies will post 2.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Saturday, December 1st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, November 29th. SS&C Technologies’s payout ratio is presently 17.88%.
In other news, Director Smita Conjeevaram purchased 3,000 shares of SS&C Technologies stock in a transaction dated Monday, November 12th. The shares were purchased at an average price of $48.52 per share, with a total value of $145,560.00. Following the transaction, the director now owns 3,000 shares in the company, valued at $145,560. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jonathan E. Michael purchased 600 shares of SS&C Technologies stock in a transaction dated Monday, November 5th. The shares were purchased at an average cost of $49.79 per share, for a total transaction of $29,874.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 35,714 shares of company stock worth $1,672,420. Corporate insiders own 17.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Dupont Capital Management Corp purchased a new stake in shares of SS&C Technologies during the 2nd quarter valued at approximately $207,000. Signature Financial Management Inc. purchased a new stake in shares of SS&C Technologies during the 2nd quarter valued at approximately $208,000. Sky Investment Group LLC purchased a new stake in shares of SS&C Technologies during the 3rd quarter valued at approximately $216,000. Jane Street Group LLC purchased a new stake in shares of SS&C Technologies during the 2nd quarter valued at approximately $224,000. Finally, Korea Investment CORP purchased a new stake in shares of SS&C Technologies during the 2nd quarter valued at approximately $280,000. 83.90% of the stock is currently owned by hedge funds and other institutional investors.
About SS&C Technologies
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, performance measurement, reconciliation, reporting, processing, and clearing.
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