SS&C Technologies (NASDAQ:SSNC) Rating Lowered to Buy at StockNews.com

StockNews.com cut shares of SS&C Technologies (NASDAQ:SSNC) from a strong-buy rating to a buy rating in a research note issued to investors on Monday.

A number of other equities analysts have also recently commented on SSNC. DA Davidson reiterated a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of SS&C Technologies in a report on Friday, October 25th. Raymond James increased their target price on SS&C Technologies from $79.00 to $85.00 and gave the company a “strong-buy” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada lifted their price target on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.75.

SS&C Technologies Trading Down 1.2 %

Shares of SSNC stock opened at $69.93 on Monday. The business has a 50-day moving average price of $74.21 and a two-hundred day moving average price of $67.93. SS&C Technologies has a 12-month low of $48.82 and a 12-month high of $77.02. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01. The firm has a market cap of $17.30 billion, a P/E ratio of 27.93 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a return on equity of 17.62% and a net margin of 12.26%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $1.04 EPS. SS&C Technologies’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts anticipate that SS&C Technologies will post 4.66 EPS for the current fiscal year.

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Tuesday, September 3rd. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio is currently 39.84%.

SS&C Technologies announced that its board has authorized a stock repurchase plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at SS&C Technologies

In other news, COO Rahul Kanwar sold 412,190 shares of SS&C Technologies stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the sale, the chief operating officer now owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the transaction, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now directly owns 22,576 shares in the company, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 609,690 shares of company stock valued at $44,821,055. 15.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SS&C Technologies

Several hedge funds have recently bought and sold shares of the business. Jackson Square Capital LLC bought a new stake in shares of SS&C Technologies in the 3rd quarter worth approximately $1,612,000. Concurrent Investment Advisors LLC purchased a new position in SS&C Technologies during the third quarter valued at $221,000. Old West Investment Management LLC boosted its holdings in SS&C Technologies by 19.1% in the third quarter. Old West Investment Management LLC now owns 111,784 shares of the technology company’s stock worth $8,295,000 after acquiring an additional 17,893 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of SS&C Technologies in the third quarter worth $1,818,000. Finally, QRG Capital Management Inc. increased its holdings in shares of SS&C Technologies by 533.3% during the third quarter. QRG Capital Management Inc. now owns 50,946 shares of the technology company’s stock valued at $3,781,000 after acquiring an additional 42,901 shares in the last quarter. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Company Profile

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.