SS&C Technologies (NASDAQ:SSNC) Hits New 52-Week High Following Analyst Upgrade

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) hit a new 52-week high during mid-day trading on Friday after Needham & Company LLC raised their price target on the stock from $74.00 to $81.00. Needham & Company LLC currently has a buy rating on the stock. SS&C Technologies traded as high as $73.28 and last traded at $72.94, with a volume of 203496 shares trading hands. The stock had previously closed at $68.02.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group increased their price target on SS&C Technologies from $54.00 to $61.00 and gave the stock a “hold” rating in a report on Monday, April 29th. DA Davidson increased their target price on SS&C Technologies from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $71.50.

Insider Transactions at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 5,000 shares of SS&C Technologies stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $63.14, for a total value of $315,700.00. Following the sale, the director now owns 38,000 shares of the company’s stock, valued at $2,399,320. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 32,500 shares of company stock valued at $2,027,750 over the last 90 days. 15.40% of the stock is owned by corporate insiders.

Institutional Trading of SS&C Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in SS&C Technologies during the fourth quarter worth about $168,860,000. Swedbank AB acquired a new stake in shares of SS&C Technologies during the 1st quarter worth $94,939,000. Junto Capital Management LP increased its position in shares of SS&C Technologies by 183.0% in the fourth quarter. Junto Capital Management LP now owns 1,471,190 shares of the technology company’s stock worth $89,904,000 after purchasing an additional 951,269 shares during the period. Capital International Investors raised its stake in SS&C Technologies by 111.1% in the first quarter. Capital International Investors now owns 1,071,540 shares of the technology company’s stock valued at $68,975,000 after purchasing an additional 564,017 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in SS&C Technologies during the first quarter worth about $31,305,000. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Stock Up 6.7 %

The firm’s 50-day moving average price is $63.02 and its 200 day moving average price is $62.48. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $17.96 billion, a price-to-earnings ratio of 29.06 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.03. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. On average, sell-side analysts forecast that SS&C Technologies Holdings, Inc. will post 4.62 EPS for the current fiscal year.

SS&C Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, June 3rd. SS&C Technologies’s payout ratio is 38.25%.

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.