Jefferies Financial Group Raises SS&C Technologies (NASDAQ:SSNC) Price Target to $61.00

SS&C Technologies (NASDAQ:SSNC) had its price target raised by Jefferies Financial Group from $54.00 to $61.00 in a research note published on Monday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the technology company’s stock.

Several other equities research analysts also recently commented on SSNC. Needham & Company LLC lifted their price objective on shares of SS&C Technologies from $70.00 to $74.00 and gave the stock a buy rating in a research note on Friday, April 26th. UBS Group boosted their target price on shares of SS&C Technologies from $72.00 to $77.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. Truist Financial boosted 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 note on Wednesday, February 14th. TheStreet raised shares of SS&C Technologies from a c+ rating to a b rating in a research note on Friday, February 23rd. Finally, Royal Bank of Canada upped their price objective on shares of SS&C Technologies from $65.00 to $72.00 and gave the company an outperform rating in a research note on Wednesday, February 14th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, SS&C Technologies presently has an average rating of Moderate Buy and an average price target of $70.20.

SS&C Technologies Stock Performance

Shares of SSNC stock opened at $61.22 on Monday. The firm has a market cap of $15.14 billion, a price-to-earnings ratio of 24.39 and a beta of 1.43. The company’s 50 day moving average is $62.65 and its 200 day moving average is $59.40. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $65.86.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.13. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.24%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. On average, sell-side analysts anticipate that SS&C Technologies will post 4.61 EPS 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 paid a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 1.57%. SS&C Technologies’s dividend payout ratio is presently 38.25%.

Hedge Funds Weigh In On SS&C Technologies

Several institutional investors and hedge funds have recently bought and sold shares of SSNC. Norges Bank acquired a new position in SS&C Technologies in the 4th quarter valued at about $168,860,000. Junto Capital Management LP boosted its holdings in SS&C Technologies by 183.0% in the 4th quarter. Junto Capital Management LP now owns 1,471,190 shares of the technology company’s stock valued at $89,904,000 after purchasing an additional 951,269 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in SS&C Technologies in the 1st quarter valued at about $31,305,000. Boston Partners boosted its holdings in SS&C Technologies by 5.3% in the 3rd quarter. Boston Partners now owns 8,687,812 shares of the technology company’s stock valued at $455,894,000 after purchasing an additional 435,377 shares during the last quarter. Finally, KBC Group NV boosted its holdings in SS&C Technologies by 243.1% in the 4th quarter. KBC Group NV now owns 507,749 shares of the technology company’s stock valued at $31,029,000 after purchasing an additional 359,741 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

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.