SS&C Technologies’ (SSNC) Buy Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of SS&C Technologies (NASDAQ:SSNC) in a report published on Tuesday, Benzinga reports. They currently have a $78.00 price objective on the technology company’s stock.

A number of other brokerages also recently commented on SSNC. TheStreet raised shares of SS&C Technologies from a c+ rating to a b rating in a research report on Friday, February 23rd. Needham & Company LLC boosted their target price on shares of SS&C Technologies from $62.00 to $70.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. StockNews.com raised shares of SS&C Technologies from a buy rating to a strong-buy rating in a report on Monday, January 29th. Citigroup upped their price objective on shares of SS&C Technologies from $70.00 to $71.00 and gave the stock a buy rating in a report on Thursday, February 15th. Finally, UBS Group upped their price objective on shares of SS&C Technologies from $72.00 to $77.00 and gave the stock a buy rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $70.78.

SS&C Technologies Stock Up 0.4 %

SSNC stock opened at $60.47 on Tuesday. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $65.86. The company’s 50 day simple moving average is $62.89 and its 200-day simple moving average is $58.76. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $14.95 billion, a P/E ratio of 25.41 and a beta of 1.43.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.13 EPS for the quarter, meeting analysts’ consensus estimates of $1.13. SS&C Technologies had a net margin of 11.03% and a return on equity of 16.74%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. As a group, equities research analysts anticipate that SS&C Technologies will post 4.61 EPS for the current year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s dividend payout ratio is 40.34%.

Hedge Funds Weigh In On SS&C Technologies

A number of hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. raised its stake in shares of SS&C Technologies by 0.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 25,838 shares of the technology company’s stock valued at $1,346,000 after buying an additional 162 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of SS&C Technologies by 14.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $79,000 after buying an additional 166 shares in the last quarter. Carret Asset Management LLC raised its stake in shares of SS&C Technologies by 2.5% in the 4th quarter. Carret Asset Management LLC now owns 7,070 shares of the technology company’s stock valued at $432,000 after buying an additional 175 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of SS&C Technologies by 2.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,583 shares of the technology company’s stock valued at $395,000 after buying an additional 181 shares in the last quarter. Finally, Scotia Capital Inc. raised its stake in shares of SS&C Technologies by 0.3% in the 4th quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock valued at $3,369,000 after buying an additional 191 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.