SS&C Technologies (SSNC) Stock Price Up 5.6% on Analyst Upgrade
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) shares rose 5.6% on Friday after Royal Bank of Canada raised their price target on the stock to $60.00. Royal Bank of Canada currently has an outperform rating on the stock. SS&C Technologies traded as high as $51.39 and last traded at $50.34. Approximately 10,347,900 shares changed hands during trading, an increase of 240% from the average daily volume of 3,041,638 shares. The stock had previously closed at $47.69.
Several other brokerages also recently weighed in on SSNC. Raymond James Financial upgraded SS&C Technologies from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, November 21st. Jefferies Group reiterated a “buy” rating on shares of SS&C Technologies in a research note on Tuesday, October 3rd. JPMorgan Chase & Co. downgraded SS&C Technologies from an “overweight” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research note on Tuesday, December 12th. BidaskClub upgraded SS&C Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Finally, Citigroup upgraded SS&C Technologies to a “strong-buy” rating and boosted their price target for the company from $43.00 to $46.00 in a research note on Tuesday, November 21st. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. SS&C Technologies currently has an average rating of “Buy” and an average price target of $48.18.
In other SS&C Technologies news, CFO Patrick J. Pedonti sold 20,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $40.69, for a total transaction of $813,800.00. Following the sale, the chief financial officer now owns 17,500 shares in the company, valued at approximately $712,075. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 60,000 shares of company stock worth $2,414,600. Company insiders own 17.60% of the company’s stock.
The firm has a market cap of $10,180.00, a price-to-earnings ratio of 47.11, a PEG ratio of 1.66 and a beta of 1.08. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.87.
SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.50 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The business had revenue of $419.60 million during the quarter, compared to analysts’ expectations of $424.14 million. SS&C Technologies had a return on equity of 15.32% and a net margin of 13.47%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. equities research analysts predict that SS&C Technologies Holdings, Inc. will post 1.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.57%. SS&C Technologies’s dividend payout ratio (DPR) is presently 26.67%.
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SS&C Technologies Company Profile
SS&C Technologies Holdings, Inc 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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