SS&C Technologies (NASDAQ:SSNC) Upgraded to Buy by BidaskClub
A number of other equities analysts have also weighed in on SSNC. Raymond James set a $65.00 price objective on shares of SS&C Technologies and gave the company a buy rating in a research report on Friday, November 1st. Needham & Company LLC reissued a buy rating and issued a $65.00 price objective on shares of SS&C Technologies in a research report on Friday, November 1st. JPMorgan Chase & Co. set a $69.00 price objective on shares of SS&C Technologies and gave the company a buy rating in a research report on Friday, November 1st. Zacks Investment Research raised shares of SS&C Technologies from a hold rating to a buy rating and set a $65.00 price objective for the company in a research report on Thursday, November 7th. Finally, Deutsche Bank boosted their price objective on shares of SS&C Technologies from $64.00 to $75.00 and gave the company a buy rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $68.23.
Shares of SSNC opened at $62.06 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.64. The stock has a market cap of $15.81 billion, a P/E ratio of 23.69, a PEG ratio of 2.30 and a beta of 1.31. The company has a 50-day moving average of $60.65 and a two-hundred day moving average of $54.39. SS&C Technologies has a 12-month low of $42.51 and a 12-month high of $67.73.
The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.81%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, November 29th. SS&C Technologies’s payout ratio is presently 19.08%.
In related news, CEO William C. Stone sold 255,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $58.84, for a total value of $15,004,200.00. Following the completion of the sale, the chief executive officer now directly owns 31,931,624 shares in the company, valued at $1,878,856,756.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders purchased 142 shares of company stock valued at $8,373. 14.50% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in SSNC. Nuveen Asset Management LLC purchased a new stake in SS&C Technologies in the second quarter valued at approximately $89,502,000. TimesSquare Capital Management LLC purchased a new stake in SS&C Technologies in the third quarter valued at approximately $45,320,000. Millennium Management LLC grew its holdings in SS&C Technologies by 161.2% in the third quarter. Millennium Management LLC now owns 1,093,287 shares of the technology company’s stock valued at $56,380,000 after purchasing an additional 674,748 shares during the period. Balyasny Asset Management LLC grew its holdings in SS&C Technologies by 299.1% in the second quarter. Balyasny Asset Management LLC now owns 862,919 shares of the technology company’s stock valued at $49,713,000 after purchasing an additional 646,678 shares during the period. Finally, Select Equity Group L.P. grew its holdings in SS&C Technologies by 22.3% in the third quarter. Select Equity Group L.P. now owns 3,520,078 shares of the technology company’s stock valued at $181,530,000 after purchasing an additional 642,179 shares during the period. Hedge funds and other institutional investors own 83.15% of the company’s stock.
About SS&C Technologies
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.
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