SS&C Technologies (NASDAQ:SSNC) Upgraded to Buy by BidaskClub
A number of other brokerages have also weighed in on SSNC. Needham & Company LLC restated a buy rating and issued a $65.00 price objective on shares of SS&C Technologies in a report on Friday, November 1st. Deutsche Bank raised their price objective on shares of SS&C Technologies from $64.00 to $75.00 and gave the company a buy rating in a report on Friday, December 13th. Raymond James set a $65.00 price objective on shares of SS&C Technologies and gave the company a buy rating in a report on Friday, November 1st. Morgan Stanley raised their price objective on shares of SS&C Technologies from $57.00 to $59.00 and gave the company an equal weight rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. set a $69.00 price target on shares of SS&C Technologies and gave the stock a buy rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $68.23.
Shares of SSNC opened at $62.06 on Friday. SS&C Technologies has a twelve month low of $42.51 and a twelve month high of $67.73. The firm’s fifty day simple moving average is $60.65 and its 200-day simple moving average is $54.39. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 2.30 and a beta of 1.31. 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 business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.125 per share. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.10. This represents a $0.50 annualized dividend and a yield of 0.81%. The ex-dividend date was Friday, November 29th. SS&C Technologies’s dividend payout ratio (DPR) is currently 19.08%.
In related news, CEO William C. Stone sold 255,000 shares of SS&C Technologies stock in a transaction on Friday, December 13th. The shares were sold at an average price of $58.84, for a total transaction of $15,004,200.00. Following the sale, the chief executive officer now directly owns 31,931,624 shares in the company, valued at approximately $1,878,856,756.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 142 shares of company stock worth $8,373 over the last quarter. 14.50% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of SSNC. Banco de Sabadell S.A purchased a new position in SS&C Technologies during the 3rd quarter worth $52,000. Quadrant Capital Group LLC grew its position in SS&C Technologies by 815.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,227 shares of the technology company’s stock worth $62,000 after purchasing an additional 1,093 shares during the last quarter. Canada Pension Plan Investment Board grew its position in SS&C Technologies by 2,790.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,243 shares of the technology company’s stock worth $72,000 after purchasing an additional 1,200 shares during the last quarter. Nisa Investment Advisors LLC grew its position in SS&C Technologies by 55.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,800 shares of the technology company’s stock worth $93,000 after purchasing an additional 645 shares during the last quarter. Finally, Strategic Blueprint LLC purchased a new position in SS&C Technologies during the 3rd quarter worth $100,000. 83.15% of the stock is currently owned by institutional investors.
SS&C Technologies Company Profile
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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