SS&C Technologies (NASDAQ:SSNC) Sets New 1-Year High on Analyst Upgrade

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)’s stock price hit a new 52-week high during mid-day trading on Tuesday after StockNews.com upgraded the stock from a buy rating to a strong-buy rating. The stock traded as high as $87.54 and last traded at $87.22, with a volume of 110058 shares traded. The stock had previously closed at $87.29.

A number of other equities analysts have also recently issued reports on the company. Raymond James upped their price objective on SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a report on Friday, February 7th. Jefferies Financial Group upgraded SS&C Technologies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. UBS Group increased their price target on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. DA Davidson lifted their price target on shares of SS&C Technologies from $92.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada upped their price objective on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $89.50.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, CEO William C. Stone sold 132,700 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $76.85, for a total value of $10,197,995.00. Following the completion of the transaction, the chief executive officer now directly owns 31,837,926 shares in the company, valued at approximately $2,446,744,613.10. This represents a 0.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 6,412 shares in the company, valued at approximately $494,172.84. The trade was a 91.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 449,000 shares of company stock worth $34,461,478. 15.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SS&C Technologies

Several hedge funds have recently bought and sold shares of SSNC. Vanguard Group Inc. raised its stake in SS&C Technologies by 1.2% during 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 buying an additional 239,438 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of SS&C Technologies by 5.4% during the third quarter. Janus Henderson Group PLC now owns 16,059,475 shares of the technology company’s stock valued at $1,191,774,000 after acquiring an additional 817,501 shares in the last quarter. State Street Corp increased its position in shares of SS&C Technologies by 2.2% during the third quarter. State Street Corp now owns 5,624,174 shares of the technology company’s stock valued at $417,370,000 after acquiring an additional 121,223 shares in the last quarter. Boston Partners raised its holdings 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 acquiring an additional 3,901,227 shares during the last quarter. Finally, Cantillon Capital Management LLC lifted its position in SS&C Technologies by 0.6% in the 4th quarter. Cantillon Capital Management LLC now owns 4,533,081 shares of the technology company’s stock valued at $343,517,000 after acquiring an additional 25,895 shares in the last quarter. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Trading Up 1.6 %

The firm has a market capitalization of $21.82 billion, a PE ratio of 29.36 and a beta of 1.38. The firm has a 50 day simple moving average of $78.32 and a 200 day simple moving average of $75.41. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings data on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, topping the consensus estimate 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 analysts expect that SS&C Technologies Holdings, Inc. will post 5.26 earnings per share for the current fiscal year.

SS&C Technologies Announces Dividend

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

About SS&C Technologies

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.