SS&C Technologies (NASDAQ:SSNC) Given New $96.00 Price Target at Royal Bank of Canada

SS&C Technologies (NASDAQ:SSNC) had its price objective hoisted by Royal Bank of Canada from $86.00 to $96.00 in a report issued on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other research firms also recently issued reports on SSNC. Raymond James upped their price objective on shares of SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a report on Friday. Needham & Company LLC raised their price target on shares of SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $70.00 to $94.00 in a report on Monday, February 3rd. UBS Group raised their target price on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. One research 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $88.25.

SS&C Technologies Trading Up 6.0 %

NASDAQ:SSNC opened at $86.71 on Friday. The firm has a 50 day moving average of $77.51 and a 200 day moving average of $74.84. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies has a 52 week low of $59.53 and a 52 week high of $87.50. The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of 28.90 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. As a group, sell-side analysts anticipate that SS&C Technologies will post 5.26 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 1.15%. SS&C Technologies’s dividend payout ratio is presently 33.33%.

Insider Activity

In related news, SVP Jason Douglas White sold 69,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total value of $5,317,830.00. Following the completion of the transaction, the senior vice president now owns 6,412 shares of the company’s stock, valued at approximately $494,172.84. This represents a 91.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William C. Stone sold 132,700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $76.85, for a total value of $10,197,995.00. Following the completion of the sale, the chief executive officer now directly owns 31,837,926 shares in the company, valued at approximately $2,446,744,613.10. The trade was a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 449,000 shares of company stock valued at $34,461,478 in the last three months. 15.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SS&C Technologies

Large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC raised its position in shares of SS&C Technologies by 16.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 885 shares of the technology company’s stock worth $67,000 after purchasing an additional 123 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of SS&C Technologies by 2.2% during the third quarter. SkyView Investment Advisors LLC now owns 6,400 shares of the technology company’s stock valued at $475,000 after acquiring an additional 137 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of 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 valued at $107,000 after acquiring an additional 149 shares in the last quarter. Legacy Capital Group California Inc. boosted its stake in shares of 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 worth $228,000 after acquiring an additional 164 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its position 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 worth $246,000 after purchasing an additional 171 shares in 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 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.