SS&C Technologies (NASDAQ:SSNC) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a buy rating to a strong-buy rating in a report issued on Tuesday.

Other equities research analysts have also issued reports about the stock. DA Davidson reaffirmed a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Raymond James boosted their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a research note on Friday, October 25th. Finally, Royal Bank of Canada boosted their price objective on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $77.75.

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC opened at $71.90 on Tuesday. SS&C Technologies has a 1 year low of $51.72 and a 1 year high of $77.02. The stock has a market capitalization of $17.81 billion, a price-to-earnings ratio of 25.77 and a beta of 1.39. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The company’s 50 day simple moving average is $73.96 and its 200 day simple moving average is $68.27.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the company posted $1.04 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts predict that SS&C Technologies will post 4.62 EPS for the current fiscal year.

SS&C Technologies declared that its board has approved a share buyback program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.25 dividend. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. SS&C Technologies’s dividend payout ratio is presently 35.84%.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the sale, the director now directly owns 9,576 shares in the company, valued at $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction 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 transaction, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at $4,215,359.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock worth $44,821,055 over the last ninety days. Insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On SS&C Technologies

Several large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC grew its position in shares of SS&C Technologies by 0.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the technology company’s stock worth $3,435,000 after buying an additional 196 shares during the period. Tectonic Advisors LLC grew its holdings in SS&C Technologies by 2.9% in the third quarter. Tectonic Advisors LLC now owns 7,064 shares of the technology company’s stock worth $524,000 after purchasing an additional 198 shares during the period. Summit Trail Advisors LLC increased its stake in SS&C Technologies by 2.9% in the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock valued at $446,000 after purchasing an additional 203 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of SS&C Technologies by 43.3% during the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after purchasing an additional 204 shares during the period. Finally, Wedge Capital Management L L P NC boosted its position in shares of SS&C Technologies by 0.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 51,497 shares of the technology company’s stock worth $3,822,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

About SS&C Technologies

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.