SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $93.00

SS&C Technologies (NASDAQ:SSNC) had its price objective increased by UBS Group from $92.00 to $93.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently commented on SSNC. StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Raymond James boosted their price target 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. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of SS&C Technologies in a report on Friday, October 25th. Finally, Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $70.00 to $94.00 in a research note on Monday. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, SS&C Technologies currently has an average rating of “Buy” and a consensus target price of $83.88.

SS&C Technologies Trading Up 0.7 %

NASDAQ:SSNC opened at $81.55 on Monday. The stock has a market cap of $20.20 billion, a price-to-earnings ratio of 29.23 and a beta of 1.38. SS&C Technologies has a one year low of $59.53 and a one year high of $82.40. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The business’s 50-day simple moving average is $77.24 and its 200 day simple moving average is $74.64.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Monday, December 2nd. SS&C Technologies’s payout ratio is currently 35.84%.

Insider Activity at SS&C Technologies

In other news, SVP Jason Douglas White sold 69,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the sale, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at $494,172.84. The trade was a 91.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William C. Stone sold 247,300 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $76.61, for a total value of $18,945,653.00. Following the completion of the sale, the chief executive officer now owns 31,837,926 shares of the company’s stock, valued at $2,439,103,510.86. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 449,000 shares of company stock worth $34,461,478 over the last ninety days. 15.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SS&C Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Investment Management LLC bought a new position in SS&C Technologies during the fourth quarter valued at about $39,000. Financial Perspectives Inc acquired a new position in shares of SS&C Technologies during the 4th quarter valued at about $51,000. CENTRAL TRUST Co bought a new position in shares of SS&C Technologies in the 4th quarter valued at approximately $65,000. Global X Japan Co. Ltd. lifted its holdings in SS&C Technologies by 193.3% in the 4th quarter. Global X Japan Co. Ltd. now owns 871 shares of the technology company’s stock worth $66,000 after purchasing an additional 574 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in SS&C Technologies during the third quarter worth approximately $68,000. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Company Profile

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.