SS&C Technologies (NASDAQ:SSNC) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a hold rating to a buy rating in a research report released on Monday morning, Marketbeat reports. They currently have $94.00 price target on the technology company’s stock, up from their prior price target of $70.00.

A number of other brokerages have also recently issued reports on SSNC. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Raymond James boosted their price objective on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 25th. DA Davidson reissued a “buy” rating and issued a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a research report on Friday, October 25th. 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 company. Based on data from MarketBeat.com, SS&C Technologies currently has an average rating of “Buy” and an average target price of $83.88.

SS&C Technologies Price Performance

Shares of SS&C Technologies stock opened at $81.82 on Monday. The business’s fifty day moving average price is $77.42 and its 200 day moving average price is $74.80. SS&C Technologies has a twelve month low of $59.53 and a twelve month high of $82.40. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $20.27 billion, a P/E ratio of 29.33 and a beta of 1.38.

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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Monday, December 2nd. SS&C Technologies’s payout ratio is 35.84%.

Insider Activity

In other news, SVP Jason Douglas White sold 69,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the transaction, the senior vice president now owns 6,412 shares of the company’s stock, valued at approximately $494,172.84. This trade represents a 91.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William C. Stone sold 247,300 shares of the business’s stock in a transaction dated 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 directly owns 31,837,926 shares of the company’s stock, valued at approximately $2,439,103,510.86. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 449,000 shares of company stock worth $34,461,478. 15.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SS&C Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC lifted its position in shares of SS&C Technologies by 2.2% in the 3rd quarter. SkyView Investment Advisors LLC now owns 6,400 shares of the technology company’s stock worth $475,000 after buying an additional 137 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in SS&C Technologies by 11.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,417 shares of the technology company’s stock worth $107,000 after acquiring an additional 149 shares during the last quarter. Legacy Capital Group California Inc. boosted its stake in SS&C Technologies by 5.8% in the fourth quarter. Legacy Capital Group California Inc. now owns 3,003 shares of the technology company’s stock valued at $228,000 after acquiring an additional 164 shares during the period. Foundations Investment Advisors LLC grew its holdings in shares of SS&C Technologies by 5.6% during the fourth quarter. Foundations Investment Advisors LLC now owns 3,249 shares of the technology company’s stock valued at $246,000 after purchasing an additional 171 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of SS&C Technologies by 0.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 46,282 shares of the technology company’s stock worth $3,435,000 after purchasing an additional 196 shares during the period. Institutional investors and hedge funds 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.