SS&C Technologies (NASDAQ:SSNC) Sets New 52-Week High After Analyst Upgrade

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) reached a new 52-week high during trading on Monday after UBS Group raised their price target on the stock from $92.00 to $93.00. UBS Group currently has a buy rating on the stock. SS&C Technologies traded as high as $81.99 and last traded at $81.94, with a volume of 435726 shares changing hands. The stock had previously closed at $80.95.

A number of other brokerages have also recently weighed in on SSNC. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $70.00 to $94.00 in a research note on Monday. Raymond James raised 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 objective on shares of SS&C Technologies in a research note on Friday, October 25th. DA Davidson reiterated a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. Finally, StockNews.com downgraded shares of 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $83.88.

Insider Buying and Selling at SS&C Technologies

In related news, CEO William C. Stone sold 247,300 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $76.61, for a total value of $18,945,653.00. Following the sale, the chief executive officer now directly owns 31,837,926 shares in the company, valued at $2,439,103,510.86. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Douglas White sold 69,000 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders sold 449,000 shares of company stock valued at $34,461,478. Company insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in shares of SS&C Technologies by 42.8% during the 2nd quarter. Marshall Wace LLP now owns 8,741 shares of the technology company’s stock worth $548,000 after acquiring an additional 2,618 shares in the last quarter. Creative Planning boosted its stake in shares of SS&C Technologies by 9.9% during the 2nd quarter. Creative Planning now owns 8,131 shares of the technology company’s stock worth $510,000 after acquiring an additional 735 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of SS&C Technologies by 285.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,237 shares of the technology company’s stock worth $140,000 after acquiring an additional 1,657 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of SS&C Technologies during the 2nd quarter worth $1,904,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of SS&C Technologies by 183.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,225 shares of the technology company’s stock worth $641,000 after acquiring an additional 6,624 shares in the last quarter. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Trading Up 1.2 %

The firm has a market capitalization of $20.29 billion, a P/E ratio of 29.37 and a beta of 1.38. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a 50 day moving average price of $77.15 and a two-hundred day moving average price of $74.54.

SS&C Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. SS&C Technologies’s payout ratio is currently 35.84%.

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.