Royal Bank of Canada Increases SS&C Technologies (NASDAQ:SSNC) Price Target to $96.00

SS&C Technologies (NASDAQ:SSNC) had its target price upped by Royal Bank of Canada from $86.00 to $96.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Raymond James upped their target price on shares of SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a research note on Friday. UBS Group boosted their price objective on shares of SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $70.00 to $94.00 in a research note on Monday, February 3rd. Finally, DA Davidson reaffirmed a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $88.25.

SS&C Technologies Trading Up 6.0 %

Shares of SSNC opened at $86.71 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies has a 1-year low of $59.53 and a 1-year high of $87.50. The firm’s 50-day moving average price is $77.69 and its 200-day moving average price is $75.08. The firm has a market capitalization of $21.48 billion, a price-to-earnings ratio of 28.90 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. Sell-side analysts anticipate that SS&C Technologies will post 5.26 EPS for the current year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Monday, December 2nd. SS&C Technologies’s dividend payout ratio (DPR) is presently 33.33%.

Insider Activity at SS&C Technologies

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

Institutional Trading of SS&C Technologies

Institutional investors have recently made changes to their positions in the business. Kestra Investment Management LLC bought a new position in SS&C Technologies in the 4th quarter worth approximately $39,000. Parkside Financial Bank & Trust lifted its stake in SS&C Technologies by 76.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $40,000 after purchasing an additional 229 shares in the last quarter. Financial Perspectives Inc bought a new position in shares of SS&C Technologies during the 4th quarter valued at about $51,000. Rialto Wealth Management LLC purchased a new position in shares of SS&C Technologies during the fourth quarter valued at about $64,000. Finally, CENTRAL TRUST Co bought a new stake in shares of SS&C Technologies in the fourth quarter worth about $65,000. Hedge funds and other institutional investors own 96.95% of the company’s stock.

SS&C Technologies Company Profile

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.