Royal Bank of Canada Increases SS&C Technologies (NASDAQ:SSNC) Price Target to $75.00

SS&C Technologies (NASDAQ:SSNC) had its target price boosted by Royal Bank of Canada from $72.00 to $75.00 in a research report released on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC increased their price target on shares of SS&C Technologies from $74.00 to $81.00 and gave the company a buy rating in a report on Friday. Jefferies Financial Group boosted their price target on SS&C Technologies from $54.00 to $61.00 and gave the stock a hold rating in a research note on Monday, April 29th. Finally, DA Davidson raised their price objective on SS&C Technologies from $78.00 to $84.00 and gave the company a buy rating in a research note on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $70.75.

SS&C Technologies Trading Up 1.9 %

Shares of SS&C Technologies stock opened at $73.66 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02. The firm has a market cap of $18.22 billion, a price-to-earnings ratio of 29.35 and a beta of 1.38. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $73.79. The company’s 50-day simple moving average is $63.48 and its 200-day simple moving average is $62.72.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.52% and a net margin of 12.33%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business posted $0.96 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that SS&C Technologies will post 4.62 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.30%. SS&C Technologies’s dividend payout ratio (DPR) is 38.25%.

Insider Activity at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $63.94, for a total value of $639,400.00. Following the completion of the transaction, the director now owns 38,000 shares of the company’s stock, valued at approximately $2,429,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 32,500 shares of company stock valued at $2,027,750 over the last quarter. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SSNC. GHP Investment Advisors Inc. grew its position in shares of SS&C Technologies by 22.8% in the fourth quarter. GHP Investment Advisors Inc. now owns 104,210 shares of the technology company’s stock valued at $6,368,000 after purchasing an additional 19,374 shares during the period. Burgundy Asset Management Ltd. increased its stake in shares of SS&C Technologies by 2.2% during the 4th quarter. Burgundy Asset Management Ltd. now owns 4,716,792 shares of the technology company’s stock valued at $288,243,000 after acquiring an additional 101,948 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of SS&C Technologies by 18.8% during the 4th quarter. Mackenzie Financial Corp now owns 1,017,953 shares of the technology company’s stock worth $62,207,000 after acquiring an additional 161,165 shares during the period. SG Americas Securities LLC boosted its position in shares of SS&C Technologies by 39.3% in the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock worth $4,305,000 after acquiring an additional 18,878 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of SS&C Technologies by 24.5% in the fourth quarter. UBS Group AG now owns 401,090 shares of the technology company’s stock worth $24,511,000 after acquiring an additional 79,029 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

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.