SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $74.00

SS&C Technologies (NASDAQ:SSNC) had its price objective upped by Needham & Company LLC from $70.00 to $74.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities analysts also recently issued reports on the company. Royal Bank of Canada lifted their price objective on SS&C Technologies from $65.00 to $72.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. Truist Financial upped their price target on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a hold rating in a research report on Wednesday, February 14th. UBS Group raised their price objective on shares of SS&C Technologies from $72.00 to $77.00 and gave the company a buy rating in a research report on Wednesday, February 14th. TheStreet upgraded shares of SS&C Technologies from a c+ rating to a b rating in a research report on Friday, February 23rd. Finally, DA Davidson restated a buy rating and issued a $78.00 price objective on shares of SS&C Technologies in a research report on Tuesday, April 16th. Three equities research 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. Based on data from MarketBeat.com, SS&C Technologies has an average rating of Moderate Buy and an average price target of $70.20.

SS&C Technologies Stock Performance

SS&C Technologies stock opened at $61.92 on Friday. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $65.86. 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 stock has a fifty day moving average price of $62.78 and a two-hundred day moving average price of $59.24. The firm has a market capitalization of $15.31 billion, a P/E ratio of 24.67 and a beta of 1.43.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.13. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.24%. As a group, analysts anticipate that SS&C Technologies will post 4.61 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.55%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s payout ratio is 38.25%.

Institutional Trading of SS&C Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SSNC. Norges Bank bought a new stake in shares of SS&C Technologies in the 4th quarter valued at $168,860,000. Junto Capital Management LP boosted its position in SS&C Technologies by 183.0% during the 4th quarter. Junto Capital Management LP now owns 1,471,190 shares of the technology company’s stock worth $89,904,000 after acquiring an additional 951,269 shares during the last quarter. Boston Partners grew its stake in shares of SS&C Technologies by 5.3% during the 3rd quarter. Boston Partners now owns 8,687,812 shares of the technology company’s stock worth $455,894,000 after acquiring an additional 435,377 shares in the last quarter. KBC Group NV grew its position in SS&C Technologies by 243.1% in the fourth quarter. KBC Group NV now owns 507,749 shares of the technology company’s stock valued at $31,029,000 after purchasing an additional 359,741 shares in the last quarter. Finally, Nomura Holdings Inc. raised its holdings in SS&C Technologies by 571.4% during the third quarter. Nomura Holdings Inc. now owns 409,563 shares of the technology company’s stock worth $21,518,000 after acquiring an additional 348,563 shares in the last quarter. 96.95% of the stock is owned by institutional investors.

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.