Brokerages Set SS&C Technologies Holdings Inc. (NASDAQ:SSNC) Target Price at $65.10
SS&C Technologies Holdings Inc. (NASDAQ:SSNC) has received a consensus recommendation of “Buy” from the twelve analysts that are presently covering the firm. Four equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $65.10.
SSNC has been the subject of a number of research reports. Jefferies Group set a $36.00 price objective on shares of SS&C Technologies Holdings and gave the company a “buy” rating in a report on Thursday, September 15th. Deutsche Bank AG dropped their price objective on shares of SS&C Technologies Holdings from $63.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 11th. Finally, Morgan Stanley upgraded shares of SS&C Technologies Holdings from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $37.00 to $39.00 in a report on Tuesday.
In other news, insider Normand A. Boulanger sold 227,284 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $31.57, for a total transaction of $7,175,355.88. Following the completion of the sale, the insider now owns 307,500 shares in the company, valued at approximately $9,707,775. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 18.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in SS&C Technologies Holdings during the fourth quarter valued at approximately $48,189,000. Fisher Asset Management LLC acquired a new stake in SS&C Technologies Holdings during the first quarter valued at approximately $603,000. Aperio Group LLC increased its stake in SS&C Technologies Holdings by 42.9% in the first quarter. Aperio Group LLC now owns 4,677 shares of the company’s stock valued at $297,000 after buying an additional 1,403 shares during the period. Virginia Retirement System acquired a new stake in SS&C Technologies Holdings during the first quarter valued at approximately $564,000. Finally, Ngam Advisors L.P. increased its stake in SS&C Technologies Holdings by 49.1% in the first quarter. Ngam Advisors L.P. now owns 65,222 shares of the company’s stock valued at $4,136,000 after buying an additional 21,477 shares during the period. Institutional investors and hedge funds own 88.19% of the company’s stock.
Shares of SS&C Technologies Holdings (NASDAQ:SSNC) opened at 32.18 on Tuesday. The stock has a 50 day moving average of $32.36 and a 200-day moving average of $30.85. SS&C Technologies Holdings has a 1-year low of $23.61 and a 1-year high of $38.60. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 554.83 and a beta of 1.16.
SS&C Technologies Holdings (NASDAQ:SSNC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm earned $384.40 million during the quarter, compared to analysts’ expectations of $377.12 million. SS&C Technologies Holdings had a net margin of 0.99% and a return on equity of 11.94%. The business’s quarterly revenue was up 80.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. Equities analysts anticipate that SS&C Technologies Holdings will post $1.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.0625 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.25 annualized dividend and a dividend yield of 0.78%. SS&C Technologies Holdings’s dividend payout ratio is presently 454.63%.
SS&C Technologies Holdings Company Profile
SS&C Technologies Holdings, Inc (SS&C Holdings) is a holding company. The Company is a provider of software products and software-enabled services that allow financial services providers to automate complex business processes and manage their information processing requirements. The Company’s portfolio of software products and software-enabled services allows its clients to automate and integrate front-office functions, such as trading and modeling, middle-office functions, such as portfolio management and reporting, and back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing.
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