DA Davidson Cuts SS&C Technologies (NASDAQ:SSNC) Price Target to $100.00

SS&C Technologies (NASDAQ:SSNC) had its price target cut by DA Davidson from $102.00 to $100.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other research firms have also recently weighed in on SSNC. Needham & Company LLC lifted their price objective on SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 10th. Royal Bank of Canada increased their price objective on SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Raymond James boosted their target price on shares of SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group raised shares of SS&C Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $97.17.

SS&C Technologies Price Performance

Shares of SSNC stock opened at $76.07 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies has a fifty-two week low of $59.63 and a fifty-two week high of $89.73. The firm has a market cap of $18.74 billion, a P/E ratio of 25.36 and a beta of 1.31. The business’s 50 day moving average price is $83.42 and its 200-day moving average price is $78.46.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. On average, equities research analysts anticipate that SS&C Technologies will post 5.35 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Monday, March 3rd. SS&C Technologies’s dividend payout ratio is presently 33.33%.

Insider Buying and Selling at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 23,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the completion of the transaction, the director now directly owns 23,200 shares in the company, valued at approximately $2,050,648. The trade was a 49.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jason Douglas White sold 71,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the completion of the sale, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at $570,411.52. This represents a 91.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of SS&C Technologies by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 20,215,026 shares of the technology company’s stock valued at $1,531,895,000 after acquiring an additional 239,438 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in SS&C Technologies by 3.4% in the 4th quarter. Janus Henderson Group PLC now owns 16,598,958 shares of the technology company’s stock worth $1,257,869,000 after purchasing an additional 539,483 shares in the last quarter. Boston Partners boosted its stake in SS&C Technologies by 283.1% in the 4th quarter. Boston Partners now owns 5,279,386 shares of the technology company’s stock worth $400,161,000 after purchasing an additional 3,901,227 shares during the period. Cantillon Capital Management LLC raised its position in shares of SS&C Technologies by 0.6% during the fourth quarter. Cantillon Capital Management LLC now owns 4,533,081 shares of the technology company’s stock valued at $343,517,000 after buying an additional 25,895 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of SS&C Technologies by 1.8% during the third quarter. Geode Capital Management LLC now owns 3,621,022 shares of the technology company’s stock valued at $268,075,000 after buying an additional 64,299 shares during the last quarter. 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.