SS&C Technologies (NASDAQ:SSNC) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

SS&C Technologies (NASDAQ:SSNC) had its target price upped by Needham & Company LLC from $90.00 to $105.00 in a report released on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

SSNC has been the subject of a number of other research reports. DA Davidson reissued a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research report on Thursday, October 10th. UBS Group lifted their target price on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $70.00 to $94.00 in a report on Monday, February 3rd. Raymond James upped their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Friday, October 25th. Finally, StockNews.com lowered SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $88.25.

SS&C Technologies Price Performance

SSNC opened at $86.71 on Friday. The firm has a market capitalization of $21.48 billion, a P/E ratio of 28.90 and a beta of 1.38. SS&C Technologies has a 12-month low of $59.53 and a 12-month high of $87.50. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a fifty day moving average of $77.51 and a 200-day moving average of $74.84.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. Equities analysts forecast that SS&C Technologies will post 5.26 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Monday, December 2nd. SS&C Technologies’s dividend payout ratio (DPR) is currently 33.33%.

Insider Transactions at SS&C Technologies

In related news, CEO William C. Stone sold 132,700 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $76.85, for a total value of $10,197,995.00. Following the completion of the transaction, the chief executive officer now owns 31,837,926 shares of the company’s stock, valued at $2,446,744,613.10. This represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total value of $5,317,830.00. Following the sale, the senior vice president now directly owns 6,412 shares in the company, valued at $494,172.84. The trade was a 91.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 449,000 shares of company stock worth $34,461,478 over the last three months. 15.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SS&C Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC raised its stake in SS&C Technologies by 5.4% during the third quarter. Janus Henderson Group PLC now owns 16,059,475 shares of the technology company’s stock worth $1,191,774,000 after acquiring an additional 817,501 shares in the last quarter. KBC Group NV grew its holdings in shares of SS&C Technologies by 403.0% in the 4th quarter. KBC Group NV now owns 839,536 shares of the technology company’s stock worth $63,620,000 after purchasing an additional 672,641 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of SS&C Technologies during the 4th quarter worth about $49,179,000. Point72 Asset Management L.P. lifted its holdings in SS&C Technologies by 250.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 593,700 shares of the technology company’s stock valued at $44,058,000 after purchasing an additional 424,487 shares during the last quarter. Finally, River Road Asset Management LLC grew its stake in SS&C Technologies by 278.5% during the fourth quarter. River Road Asset Management LLC now owns 466,320 shares of the technology company’s stock worth $35,338,000 after buying an additional 343,105 shares during the last quarter. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.