SS&C Technologies (NASDAQ:SSNC) Given New $105.00 Price Target at Needham & Company LLC

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

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

SS&C Technologies Stock Performance

NASDAQ:SSNC opened at $86.71 on Friday. The firm’s fifty day simple moving average is $77.51 and its 200 day simple moving average is $74.84. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies has a twelve month low of $59.53 and a twelve month high of $87.50. The firm has a market capitalization of $21.48 billion, a price-to-earnings ratio of 28.90 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that SS&C Technologies will post 5.26 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

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

Insider Transactions at SS&C Technologies

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

Hedge Funds Weigh In On SS&C Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning raised its position in SS&C Technologies by 9.9% in the second 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. grew its stake in shares of SS&C Technologies by 285.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,237 shares of the technology company’s stock worth $140,000 after purchasing an additional 1,657 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of SS&C Technologies by 183.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,225 shares of the technology company’s stock worth $641,000 after purchasing an additional 6,624 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in SS&C Technologies by 19.0% during the third quarter. Park Avenue Securities LLC now owns 3,990 shares of the technology company’s stock worth $296,000 after buying an additional 637 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in SS&C Technologies by 85.7% in the third quarter. GAMMA Investing LLC now owns 2,364 shares of the technology company’s stock worth $175,000 after buying an additional 1,091 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

About SS&C Technologies

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.