DA Davidson Reiterates “Buy” Rating for SS&C Technologies (NASDAQ:SSNC)

DA Davidson restated their buy rating on shares of SS&C Technologies (NASDAQ:SSNCFree Report) in a research report released on Thursday, Benzinga reports. They currently have a $92.00 target price on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC increased their price objective on shares of SS&C Technologies from $81.00 to $90.00 and gave the stock a buy rating in a report on Thursday, September 19th. Royal Bank of Canada lifted their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an outperform rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $73.75.

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SS&C Technologies Stock Performance

SS&C Technologies stock opened at $75.44 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The stock has a 50 day moving average of $73.44 and a 200-day moving average of $66.92. The stock has a market cap of $18.51 billion, a P/E ratio of 27.43 and a beta of 1.38. SS&C Technologies has a 52 week low of $46.61 and a 52 week high of $76.94.

SS&C Technologies (NASDAQ:SSNCGet Free Report) last issued its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 EPS. On average, analysts expect that SS&C Technologies will post 4.66 EPS for the current fiscal year.

SS&C Technologies declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.25 per share. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 1.33%. SS&C Technologies’s payout ratio is presently 36.36%.

Insider Activity

In other news, Director Smita Conjeevaram sold 48,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the sale, the director now owns 9,576 shares in the company, valued at $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the completion of the transaction, the director now owns 9,576 shares in the company, valued at $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 609,690 shares of company stock worth $44,821,055. 15.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On SS&C Technologies

A number of institutional investors have recently bought and sold shares of SSNC. SG Americas Securities LLC boosted its holdings in shares of SS&C Technologies by 39.3% in the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock worth $4,305,000 after buying an additional 18,878 shares during the period. Assenagon Asset Management S.A. boosted its stake in SS&C Technologies by 2,178.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock worth $6,568,000 after purchasing an additional 100,197 shares during the period. State Board of Administration of Florida Retirement System grew its position in SS&C Technologies by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock worth $16,341,000 after purchasing an additional 11,497 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in SS&C Technologies during the 2nd quarter valued at $1,661,000. Finally, Burgundy Asset Management Ltd. lifted its holdings in shares of SS&C Technologies by 4.3% in the second quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock valued at $309,739,000 after purchasing an additional 201,632 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

About SS&C Technologies

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SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.

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