SS&C Technologies (NASDAQ:SSNC) Upgraded by Jefferies Financial Group to “Buy” Rating

Jefferies Financial Group upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a hold rating to a buy rating in a research report released on Monday morning, MarketBeat reports. Jefferies Financial Group currently has $94.00 price objective on the technology company’s stock, up from their previous price objective of $70.00.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. DA Davidson reissued a “buy” rating and set a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of SS&C Technologies in a research report on Friday, October 25th. 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 report on Friday, October 25th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $83.88.

SS&C Technologies Stock Up 0.7 %

Shares of NASDAQ:SSNC opened at $81.55 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The firm has a market cap of $20.20 billion, a price-to-earnings ratio of 29.23 and a beta of 1.38. The stock’s 50-day moving average price is $77.24 and its two-hundred day moving average price is $74.64. SS&C Technologies has a 12-month low of $59.53 and a 12-month high of $82.40.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, December 2nd. SS&C Technologies’s payout ratio is 35.84%.

Insider Buying and Selling

In other news, CEO William C. Stone sold 247,300 shares of SS&C Technologies stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $76.61, for a total value of $18,945,653.00. Following the transaction, the chief executive officer now directly owns 31,837,926 shares in the company, valued at approximately $2,439,103,510.86. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jason Douglas White sold 69,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the completion of the sale, the senior vice president now owns 6,412 shares in the company, valued at approximately $494,172.84. The trade was a 91.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 449,000 shares of company stock valued at $34,461,478. Corporate insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP boosted its position in SS&C Technologies by 42.8% in the 2nd quarter. Marshall Wace LLP now owns 8,741 shares of the technology company’s stock valued at $548,000 after buying an additional 2,618 shares during the last quarter. Creative Planning grew its stake in SS&C Technologies by 9.9% in the second quarter. Creative Planning now owns 8,131 shares of the technology company’s stock valued at $510,000 after acquiring an additional 735 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of SS&C Technologies by 285.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,237 shares of the technology company’s stock valued at $140,000 after buying an additional 1,657 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of SS&C Technologies during the second quarter worth $1,904,000. Finally, Cubist Systematic Strategies LLC boosted its stake in SS&C Technologies by 183.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,225 shares of the technology company’s stock worth $641,000 after purchasing an additional 6,624 shares during the period. 96.95% of the stock is owned by institutional investors.

About SS&C Technologies

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.