SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $74.00 at Needham & Company LLC

SS&C Technologies (NASDAQ:SSNC) had its price objective raised by Needham & Company LLC from $70.00 to $74.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

SSNC has been the topic of a number of other research reports. StockNews.com upgraded SS&C Technologies from a buy rating to a strong-buy rating in a research note on Monday, January 29th. TheStreet upgraded SS&C Technologies from a c+ rating to a b rating in a research note on Friday, February 23rd. DA Davidson restated a buy rating and issued a $78.00 target price on shares of SS&C Technologies in a research note on Tuesday, April 16th. Citigroup boosted their target price on SS&C Technologies from $70.00 to $71.00 and gave the company a buy rating in a research note on Thursday, February 15th. Finally, UBS Group boosted their price target on SS&C Technologies from $72.00 to $77.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, SS&C Technologies currently has a consensus rating of Moderate Buy and an average target price of $71.22.

SS&C Technologies Stock Performance

Shares of SSNC stock opened at $61.24 on Friday. SS&C Technologies has a 1-year low of $46.61 and a 1-year high of $65.86. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of 24.40 and a beta of 1.43. The stock’s fifty day simple moving average is $62.82 and its 200-day simple moving average is $59.08.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.13. SS&C Technologies had a return on equity of 17.24% and a net margin of 11.46%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. On average, sell-side analysts predict that SS&C Technologies will post 4.61 earnings per share for the current fiscal year.

SS&C Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.57%. SS&C Technologies’s dividend payout ratio is presently 38.25%.

Hedge Funds Weigh In On SS&C Technologies

Several large investors have recently made changes to their positions in the business. Foster Victor Wealth Advisors LLC lifted its position in shares of SS&C Technologies by 14.4% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 243,911 shares of the technology company’s stock worth $15,010,000 after purchasing an additional 30,655 shares during the last quarter. Yousif Capital Management LLC raised its holdings in SS&C Technologies by 4.9% in the 1st quarter. Yousif Capital Management LLC now owns 4,477 shares of the technology company’s stock valued at $288,000 after acquiring an additional 211 shares in the last quarter. ZWJ Investment Counsel Inc. raised its holdings in SS&C Technologies by 4.1% in the 1st quarter. ZWJ Investment Counsel Inc. now owns 296,844 shares of the technology company’s stock valued at $19,108,000 after acquiring an additional 11,822 shares in the last quarter. Inlet Private Wealth LLC raised its holdings in SS&C Technologies by 16.7% in the 1st quarter. Inlet Private Wealth LLC now owns 14,175 shares of the technology company’s stock valued at $912,000 after acquiring an additional 2,025 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in SS&C Technologies by 4.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,192 shares of the technology company’s stock valued at $4,583,000 after acquiring an additional 2,932 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company’s stock.

SS&C Technologies Company Profile

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.