JPMorgan Chase & Co. Cuts SS&C Technologies (NASDAQ:SSNC) Price Target to $87.00

SS&C Technologies (NASDAQ:SSNC) had its target price decreased by JPMorgan Chase & Co. from $94.00 to $87.00 in a research report released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company’s stock.

Other research analysts have also issued reports about the company. Jefferies Financial Group decreased their price objective on SS&C Technologies from $105.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. UBS Group boosted their target price on SS&C Technologies from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Wall Street Zen raised SS&C Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings cut SS&C Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Finally, Needham & Company LLC lowered their price objective on SS&C Technologies from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.12.

SS&C Technologies Trading Down 1.3%

Shares of NASDAQ SSNC opened at $67.02 on Monday. SS&C Technologies has a 1-year low of $61.40 and a 1-year high of $91.07. The company has a 50-day moving average of $66.75 and a two-hundred day moving average of $71.76. The company has a market cap of $16.14 billion, a PE ratio of 20.75 and a beta of 1.11. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.06.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, April 23rd. The technology company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.65 by $0.04. SS&C Technologies had a net margin of 12.65% and a return on equity of 20.15%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. SS&C Technologies’s revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts expect that SS&C Technologies will post 6.17 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 1st. SS&C Technologies’s payout ratio is currently 33.44%.

Insider Buying and Selling at SS&C Technologies

In other news, Director Michael Jay Zamkow sold 3,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $66.68, for a total value of $200,040.00. Following the transaction, the director owned 18,404 shares of the company’s stock, valued at $1,227,178.72. This represents a 14.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan E. Michael sold 2,740 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $66.86, for a total value of $183,196.40. Following the completion of the transaction, the director owned 79,384 shares in the company, valued at $5,307,614.24. This represents a 3.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,740 shares of company stock valued at $583,576 in the last quarter. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

Institutional investors have recently modified their holdings of the stock. Wedge Capital Management L L P NC boosted its stake in SS&C Technologies by 51.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 1,250,235 shares of the technology company’s stock worth $77,577,000 after acquiring an additional 423,394 shares during the last quarter. Legacy Wealth Asset Management LLC raised its holdings in SS&C Technologies by 29.2% in the second quarter. Legacy Wealth Asset Management LLC now owns 8,364 shares of the technology company’s stock worth $519,000 after purchasing an additional 1,890 shares during the period. Oliver Luxxe Assets LLC bought a new position in shares of SS&C Technologies during the second quarter worth $393,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of SS&C Technologies by 14.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 17,117 shares of the technology company’s stock worth $1,062,000 after purchasing an additional 2,161 shares in the last quarter. Finally, Reinhart Partners LLC. grew its holdings in shares of SS&C Technologies by 27.6% in the 2nd quarter. Reinhart Partners LLC. now owns 84,270 shares of the technology company’s stock valued at $5,229,000 after buying an additional 18,208 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Company Profile

SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.

SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.