Raymond James Boosts SS&C Technologies (NASDAQ:SSNC) Price Target to $85.00

SS&C Technologies (NASDAQ:SSNC - Free Report) had its target price increased by Raymond James from $79.00 to $85.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a strong-buy rating on the technology company's stock.

A number of other analysts have also commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price target on shares of SS&C Technologies in a research note on Friday. DA Davidson reaffirmed a "buy" rating and issued a $92.00 target price on shares of SS&C Technologies in a research report on Thursday, October 10th. Finally, Royal Bank of Canada increased their price target on SS&C Technologies from $75.00 to $86.00 and gave the company an "outperform" rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $75.00.

SS&C Technologies Stock Down 6.8 %

NASDAQ SSNC traded down $5.11 during mid-day trading on Friday, reaching $70.04. The stock had a trading volume of 5,279,461 shares, compared to its average volume of 1,045,626. The company has a fifty day moving average price of $74.38 and a 200 day moving average price of $67.71. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $77.02. The stock has a market cap of $17.32 billion, a PE ratio of 27.90 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.07. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the company posted $0.96 earnings per share. The company's quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts expect that SS&C Technologies will post 4.66 earnings per share for the current year.

SS&C Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.25 dividend. This is a boost from SS&C Technologies's previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.43%. SS&C Technologies's dividend payout ratio is presently 39.84%.

SS&C Technologies declared that its board has authorized a share buyback plan on Thursday, July 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other SS&C Technologies news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Michael Jay Zamkow sold 19,000 shares of the business's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.97, for a total value of $1,443,430.00. Following the transaction, the director now directly owns 22,576 shares of the company's stock, valued at approximately $1,715,098.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Smita Conjeevaram sold 48,500 shares of the business's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock worth $44,821,055 in the last three months. Company insiders own 15.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC lifted its holdings in shares of SS&C Technologies by 76.8% in the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company's stock worth $25,000 after acquiring an additional 172 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of SS&C Technologies during the second quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of SS&C Technologies during the second quarter valued at approximately $35,000. Benjamin Edwards Inc. grew its stake in shares of SS&C Technologies by 43.3% during the second quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company's stock valued at $42,000 after buying an additional 204 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of SS&C Technologies by 6,300.0% in the second quarter. Versant Capital Management Inc now owns 704 shares of the technology company's stock worth $44,000 after buying an additional 693 shares during the period. Hedge funds and other institutional investors own 96.95% of the company's stock.

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.