SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Receives $77.75 Consensus Price Target from Analysts

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) has been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $77.75.

SSNC has been the topic of several research analyst reports. DA Davidson restated a “buy” rating and set a $92.00 target price on shares of SS&C Technologies in a research note on Thursday, October 10th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of SS&C Technologies in a research note on Friday, October 25th. Royal Bank of Canada boosted their target price on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, 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 research note on Friday, October 25th.

Insider Activity

In other news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Rahul Kanwar sold 412,190 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Jay Zamkow sold 19,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 22,576 shares of the company’s stock, valued at $1,715,098.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 609,690 shares of company stock valued at $44,821,055 in the last quarter. 15.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SS&C Technologies

A number of large investors have recently bought and sold shares of SSNC. Quent Capital LLC raised its holdings in shares of SS&C Technologies by 76.8% during the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after acquiring an additional 172 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of SS&C Technologies during the second quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of SS&C Technologies during the second quarter valued at approximately $35,000. Benjamin Edwards Inc. raised its holdings in shares of SS&C Technologies by 43.3% during the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after acquiring an additional 204 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of SS&C Technologies by 6,300.0% during the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after acquiring an additional 693 shares during the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Trading Up 3.2 %

Shares of NASDAQ:SSNC opened at $74.17 on Friday. SS&C Technologies has a 12-month low of $51.92 and a 12-month high of $77.02. The business’s fifty day simple moving average is $73.96 and its 200-day simple moving average is $68.32. The company has a market capitalization of $18.37 billion, a PE ratio of 26.58 and a beta of 1.39. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04.

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

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s payout ratio is 35.84%.

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

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.