SS&C Technologies (NASDAQ:SSNC) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of SS&C Technologies (NASDAQ:SSNC) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.

Several other equities research analysts also recently issued reports on the company. DA Davidson restated a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a report on Thursday, October 10th. Raymond James raised their price target on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. Finally, Royal Bank of Canada raised their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, SS&C Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

SS&C Technologies Stock Up 0.1 %

NASDAQ SSNC opened at $73.51 on Friday. The stock has a market cap of $18.21 billion, a PE ratio of 26.35 and a beta of 1.39. The business has a 50 day moving average price of $74.05 and a two-hundred day moving average price of $69.09. 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 fifty-two week low of $54.75 and a fifty-two week high of $77.02.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. SS&C Technologies had a net margin of 12.26% and a return on equity of 17.33%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the company posted $1.04 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts predict that SS&C Technologies will post 4.62 EPS for the current fiscal year.

SS&C Technologies announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

SS&C Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.36%. SS&C Technologies’s dividend payout ratio is currently 35.84%.

Insider Activity at SS&C Technologies

In other news, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the sale, the chief operating officer now owns 57,642 shares in the company, valued at $4,215,359.46. This represents a 87.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Jay Zamkow sold 19,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now directly owns 22,576 shares of the company’s stock, valued at approximately $1,715,098.72. This trade represents a 45.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 561,190 shares of company stock worth $41,386,285 in the last quarter. 15.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Empowered Funds LLC acquired a new position in shares of SS&C Technologies in the 1st quarter valued at about $212,000. Sei Investments Co. lifted its position in SS&C Technologies by 1.3% in the 1st quarter. Sei Investments Co. now owns 55,035 shares of the technology company’s stock worth $3,543,000 after buying an additional 682 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in SS&C Technologies by 4.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock worth $16,341,000 after buying an additional 11,497 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of SS&C Technologies by 18.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 113,227 shares of the technology company’s stock valued at $7,288,000 after buying an additional 17,545 shares during the period. Finally, HBK Sorce Advisory LLC purchased a new position in shares of SS&C Technologies during the 1st quarter valued at $202,000. 96.95% of the stock is 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.