SS&C Technologies (NASDAQ:SSNC) Upgraded to "Strong-Buy" at StockNews.com

StockNews.com upgraded shares of SS&C Technologies (NASDAQ:SSNC - Free Report) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning.

Several other research firms have also recently commented on SSNC. Raymond James raised their target price on shares of SS&C Technologies from $79.00 to $85.00 and gave the stock a "strong-buy" rating in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a "buy" rating and set a $90.00 price objective on shares of SS&C Technologies in a research report on Friday, October 25th. Royal Bank of Canada increased their target price on SS&C Technologies from $75.00 to $86.00 and gave the stock an "outperform" rating in a research report on Thursday, September 19th. Finally, DA Davidson restated a "buy" rating and set a $92.00 price target on shares of SS&C Technologies in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $77.75.

SS&C Technologies Trading Up 1.6 %

SSNC traded up $1.13 during trading on Tuesday, hitting $71.90. 1,423,398 shares of the stock traded hands, compared to its average volume of 1,060,844. The firm has a market capitalization of $17.81 billion, a P/E ratio of 25.77 and a beta of 1.39. SS&C Technologies has a 12-month low of $51.72 and a 12-month high of $77.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a 50-day moving average of $74.00 and a 200 day moving average of $68.20.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Thursday, October 24th. The technology company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.44 billion. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. SS&C Technologies's quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $1.04 earnings per share. Equities research analysts anticipate that SS&C Technologies will post 4.62 EPS for the current year.

SS&C Technologies announced that its board has approved a share buyback program on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

SS&C Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a $0.25 dividend. This is a positive change from SS&C Technologies's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Tuesday, September 3rd. SS&C Technologies's payout ratio is presently 35.84%.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the transaction, the chief operating officer now owns 57,642 shares of the company's stock, valued at approximately $4,215,359.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Smita Conjeevaram sold 48,500 shares of the company'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 sale, the director now owns 9,576 shares in the company, valued at approximately $678,172.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Rahul Kanwar sold 412,190 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the transaction, the chief operating officer now directly owns 57,642 shares in the company, valued at $4,215,359.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 609,690 shares of company stock valued at $44,821,055 over the last ninety days. Insiders own 15.40% of the company's stock.

Institutional Investors Weigh In On SS&C Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in SS&C Technologies by 39.3% in the 1st quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company's stock worth $4,305,000 after purchasing an additional 18,878 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of SS&C Technologies by 2,178.2% in the second quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company's stock worth $6,568,000 after buying an additional 100,197 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of SS&C Technologies by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company's stock valued at $16,341,000 after buying an additional 11,497 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of SS&C Technologies during the 2nd quarter valued at approximately $1,661,000. Finally, Burgundy Asset Management Ltd. increased its holdings in SS&C Technologies by 4.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company's stock worth $309,739,000 after acquiring an additional 201,632 shares in the last quarter. 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.