DA Davidson Forecasts Strong Price Appreciation for SS&C Technologies (NASDAQ:SSNC) Stock

SS&C Technologies (NASDAQ:SSNC) had its price target upped by DA Davidson from $92.00 to $102.00 in a report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other brokerages also recently commented on SSNC. Royal Bank of Canada raised their price objective on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Jefferies Financial Group raised SS&C Technologies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $70.00 to $94.00 in a research note on Monday, February 3rd. UBS Group raised their price objective on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Raymond James raised their price objective on SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $89.50.

SS&C Technologies Stock Performance

SSNC stock opened at $88.09 on Monday. The business’s fifty day moving average is $78.32 and its 200-day moving average is $75.41. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The company has a market cap of $21.82 billion, a P/E ratio of 29.36 and a beta of 1.38. SS&C Technologies has a twelve month low of $59.53 and a twelve month high of $88.22.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. Equities research analysts forecast that SS&C Technologies will post 5.26 EPS for the current year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Monday, December 2nd. SS&C Technologies’s dividend payout ratio (DPR) is presently 33.33%.

Insider Activity

In other news, CEO William C. Stone sold 247,300 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $76.61, for a total value of $18,945,653.00. Following the completion of the transaction, the chief executive officer now owns 31,837,926 shares in the company, valued at $2,439,103,510.86. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jason Douglas White sold 69,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total value of $5,317,830.00. Following the completion of the transaction, the senior vice president now owns 6,412 shares of the company’s stock, valued at $494,172.84. The trade was a 91.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 449,000 shares of company stock worth $34,461,478 in the last quarter. Corporate insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Investment Management LLC bought a new position in SS&C Technologies during the fourth quarter worth about $39,000. Parkside Financial Bank & Trust lifted its position in SS&C Technologies by 76.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $40,000 after acquiring an additional 229 shares during the last quarter. Financial Perspectives Inc acquired a new stake in SS&C Technologies during the fourth quarter worth approximately $51,000. Rialto Wealth Management LLC acquired a new stake in SS&C Technologies during the fourth quarter worth approximately $64,000. Finally, CENTRAL TRUST Co acquired a new stake in SS&C Technologies during the fourth quarter worth approximately $65,000. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.