Jefferies Financial Group Cuts SS&C Technologies (NASDAQ:SSNC) Price Target to $83.00

SS&C Technologies (NASDAQ:SSNC) had its price target reduced by Jefferies Financial Group from $92.00 to $83.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research analysts have also recently commented on SSNC. Morgan Stanley decreased their price target on SS&C Technologies from $86.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Friday, April 24th. JPMorgan Chase & Co. cut their price objective on SS&C Technologies from $94.00 to $87.00 and set a “neutral” rating on the stock in a report on Monday. UBS Group upped their price target on SS&C Technologies from $112.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Weiss Ratings downgraded SS&C Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Finally, Needham & Company LLC reduced their target price on SS&C Technologies from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.12.

SS&C Technologies Trading Down 1.3%

Shares of NASDAQ:SSNC opened at $67.02 on Monday. The business’s 50 day simple moving average is $66.75 and its 200 day simple moving average is $71.76. SS&C Technologies has a 1 year low of $61.40 and a 1 year high of $91.07. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $16.14 billion, a P/E ratio of 20.75 and a beta of 1.11.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, April 23rd. The technology company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.04. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. SS&C Technologies had a return on equity of 20.15% and a net margin of 12.65%.The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 EPS. On average, research analysts anticipate that SS&C Technologies will post 6.17 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.27 per share. The ex-dividend date was Monday, June 1st. This represents a $1.08 annualized dividend and a yield of 1.6%. SS&C Technologies’s dividend payout ratio is presently 33.44%.

Insider Transactions at SS&C Technologies

In other SS&C Technologies news, Director Michael Jay Zamkow sold 3,000 shares of SS&C Technologies stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $66.68, for a total value of $200,040.00. Following the sale, the director owned 18,404 shares of the company’s stock, valued at approximately $1,227,178.72. The trade was a 14.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jonathan E. Michael sold 2,740 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $66.86, for a total value of $183,196.40. Following the transaction, the director directly owned 79,384 shares in the company, valued at $5,307,614.24. This represents a 3.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,740 shares of company stock valued at $583,576 in the last 90 days. 16.00% of the stock is currently owned by corporate insiders.

Institutional Trading of SS&C Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Havemeyer Place LP purchased a new stake in SS&C Technologies during the 4th quarter worth about $26,000. EFG International AG purchased a new position in SS&C Technologies during the 4th quarter valued at about $29,000. V Square Quantitative Management LLC bought a new stake in shares of SS&C Technologies during the fourth quarter valued at about $37,000. Osterweis Capital Management Inc. purchased a new stake in shares of SS&C Technologies in the second quarter worth about $40,000. Finally, Fifth Third Bancorp lifted its holdings in shares of SS&C Technologies by 216.4% in the fourth quarter. Fifth Third Bancorp now owns 481 shares of the technology company’s stock worth $42,000 after buying an additional 329 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors.

SS&C Technologies Company Profile

SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.

SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.