DA Davidson Reaffirms Buy Rating for SS&C Technologies (NASDAQ:SSNC)

DA Davidson reissued their buy rating on shares of SS&C Technologies (NASDAQ:SSNC) in a report published on Tuesday, Benzinga reports. DA Davidson currently has a $78.00 price target on the technology company’s stock.

A number of other equities research analysts also recently commented on SSNC. Citigroup lifted their target price on shares of SS&C Technologies from $70.00 to $71.00 and gave the stock a buy rating in a research report on Thursday, February 15th. Royal Bank of Canada lifted their target price on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an outperform rating in a research report on Wednesday, February 14th. Truist Financial lifted their target price on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a hold rating in a research report on Wednesday, February 14th. TheStreet raised shares of SS&C Technologies from a c+ rating to a b rating in a research report on Friday, February 23rd. Finally, StockNews.com raised shares of SS&C Technologies from a buy rating to a strong-buy rating in a research report on Monday, January 29th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $70.78.

SS&C Technologies Price Performance

Shares of SSNC opened at $60.82 on Tuesday. The company has a market capitalization of $15.04 billion, a P/E ratio of 25.55 and a beta of 1.43. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $62.89 and a 200 day moving average of $58.82. SS&C Technologies has a twelve month low of $46.61 and a twelve month high of $65.86.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, meeting the consensus estimate of $1.13. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. SS&C Technologies had a net margin of 11.03% and a return on equity of 16.74%. As a group, equities research analysts anticipate that SS&C Technologies will post 4.61 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s dividend payout ratio (DPR) is 40.34%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Valley National Advisers Inc. lifted its stake in shares of SS&C Technologies by 17.9% during the 1st quarter. Valley National Advisers Inc. now owns 5,133 shares of the technology company’s stock valued at $330,000 after buying an additional 778 shares in the last quarter. Denali Advisors LLC purchased a new position in shares of SS&C Technologies during the 1st quarter valued at $51,000. AlphaMark Advisors LLC lifted its stake in shares of SS&C Technologies by 5.1% during the 1st quarter. AlphaMark Advisors LLC now owns 9,710 shares of the technology company’s stock valued at $625,000 after buying an additional 470 shares in the last quarter. Norris Perne & French LLP MI lifted its stake in shares of SS&C Technologies by 24.9% during the 1st quarter. Norris Perne & French LLP MI now owns 279,097 shares of the technology company’s stock valued at $17,965,000 after buying an additional 55,621 shares in the last quarter. Finally, Signet Financial Management LLC lifted its stake in shares of SS&C Technologies by 2.9% during the 1st quarter. Signet Financial Management LLC now owns 65,049 shares of the technology company’s stock valued at $4,187,000 after buying an additional 1,803 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

About SS&C Technologies

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.