Raymond James Raises SS&C Technologies (SSNC) Price Target to $68.00

SS&C Technologies (NASDAQ:SSNC) had its price target boosted by Raymond James from $67.00 to $68.00 in a report issued on Tuesday. Raymond James currently has a strong-buy rating on the technology company’s stock.

SSNC has been the subject of a number of other reports. ValuEngine raised shares of SS&C Technologies from a hold rating to a buy rating in a research report on Tuesday, September 4th. JPMorgan Chase & Co. set a $70.00 price objective on shares of SS&C Technologies and gave the stock a buy rating in a research note on Thursday, November 1st. BidaskClub cut shares of SS&C Technologies from a hold rating to a sell rating in a research note on Wednesday, November 7th. Zacks Investment Research cut shares of SS&C Technologies from a buy rating to a hold rating in a research note on Thursday, October 4th. Finally, Deutsche Bank raised shares of SS&C Technologies from a hold rating to a buy rating and raised their price objective for the stock from $57.00 to $72.00 in a research note on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. SS&C Technologies has an average rating of Buy and an average target price of $63.42.

SSNC opened at $45.54 on Tuesday. SS&C Technologies has a 12-month low of $39.73 and a 12-month high of $60.97. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.57. The company has a market cap of $10.95 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.25.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Wednesday, October 31st. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. SS&C Technologies had a net margin of 7.61% and a return on equity of 15.04%. The company had revenue of $992.40 million during the quarter, compared to analyst estimates of $1 billion. During the same period last year, the firm posted $0.50 EPS. SS&C Technologies’s revenue for the quarter was up 137.3% compared to the same quarter last year. Analysts expect that SS&C Technologies will post 2.52 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Saturday, December 1st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.70%. SS&C Technologies’s payout ratio is 17.88%.

In related news, Director Jonathan E. Michael purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The shares were purchased at an average price of $44.58 per share, with a total value of $445,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan E. Michael purchased 600 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was bought at an average cost of $49.79 per share, for a total transaction of $29,874.00. The disclosure for this purchase can be found here. Insiders have bought a total of 35,714 shares of company stock worth $1,672,420 in the last ninety days. Corporate insiders own 17.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SSNC. Morgan Stanley grew its stake in SS&C Technologies by 1,929.5% in the 2nd quarter. Morgan Stanley now owns 4,228,968 shares of the technology company’s stock valued at $219,484,000 after acquiring an additional 4,020,592 shares during the period. FMR LLC grew its stake in SS&C Technologies by 57.7% in the 2nd quarter. FMR LLC now owns 8,088,831 shares of the technology company’s stock valued at $419,811,000 after acquiring an additional 2,959,947 shares during the period. Bank of New York Mellon Corp grew its stake in SS&C Technologies by 54.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,858,968 shares of the technology company’s stock valued at $162,477,000 after acquiring an additional 1,010,118 shares during the period. BlackRock Inc. grew its stake in SS&C Technologies by 9.2% in the 2nd quarter. BlackRock Inc. now owns 11,050,033 shares of the technology company’s stock valued at $573,495,000 after acquiring an additional 928,951 shares during the period. Finally, First Trust Advisors LP grew its stake in SS&C Technologies by 344.5% in the 2nd quarter. First Trust Advisors LP now owns 1,115,994 shares of the technology company’s stock valued at $57,920,000 after acquiring an additional 864,932 shares during the period. 84.57% of the stock is currently owned by hedge funds and other institutional investors.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its 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, performance measurement, reconciliation, reporting, processing, and clearing.

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Analyst Recommendations for SS&C Technologies (NASDAQ:SSNC)

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