SS&C Technologies (NASDAQ:SSNC) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

SS&C Technologies (NASDAQ:SSNC - Free Report) had its price target increased by Royal Bank of Canada from $86.00 to $96.00 in a research report sent to investors on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company's stock.

SSNC has been the topic of a number of other research reports. StockNews.com lowered SS&C Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday, November 15th. Jefferies Financial Group raised SS&C Technologies from a "hold" rating to a "buy" rating and upped their price objective for the stock from $70.00 to $94.00 in a report on Monday, February 3rd. Needham & Company LLC upped their price objective on SS&C Technologies from $90.00 to $105.00 and gave the stock a "buy" rating in a report on Friday. UBS Group upped their price objective on SS&C Technologies from $92.00 to $93.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, 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. One equities research 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's stock. According to data from MarketBeat.com, SS&C Technologies presently has an average rating of "Buy" and a consensus target price of $89.50.

SS&C Technologies Stock Performance

Shares of NASDAQ:SSNC traded down $0.58 during trading on Friday, reaching $86.71. The company had a trading volume of 2,556,299 shares, compared to its average volume of 1,440,959. The firm has a market capitalization of $21.48 billion, a price-to-earnings ratio of 28.90 and a beta of 1.38. 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 stock's fifty day moving average price is $78.10 and its 200 day moving average price is $75.32. SS&C Technologies has a fifty-two week low of $59.53 and a fifty-two week high of $87.54.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.09. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. As a group, equities research analysts predict that SS&C Technologies will post 5.26 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. SS&C Technologies's dividend payout ratio is currently 33.33%.

Insider Buying and Selling

In related news, SVP Jason Douglas White sold 69,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the transaction, the senior vice president now directly owns 6,412 shares in the company, valued at approximately $494,172.84. This represents a 91.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William C. Stone sold 132,700 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $76.85, for a total value of $10,197,995.00. Following the transaction, the chief executive officer now owns 31,837,926 shares in the company, valued at $2,446,744,613.10. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 449,000 shares of company stock worth $34,461,478. 15.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On SS&C Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in SS&C Technologies by 26.4% during the third quarter. Toronto Dominion Bank now owns 32,136 shares of the technology company's stock worth $2,385,000 after acquiring an additional 6,721 shares during the last quarter. State Street Corp increased its stake in 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 worth $417,370,000 after acquiring an additional 121,223 shares during the last quarter. ZWJ Investment Counsel Inc. grew its stake in shares of SS&C Technologies by 3.5% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 330,352 shares of the technology company's stock valued at $25,034,000 after buying an additional 11,077 shares in the last quarter. Benson Investment Management Company Inc. acquired a new stake in shares of SS&C Technologies in the fourth quarter valued at about $5,578,000. Finally, Swedbank AB grew its stake in shares of SS&C Technologies by 17.5% in the fourth quarter. Swedbank AB now owns 1,753,236 shares of the technology company's stock valued at $132,860,000 after buying an additional 261,275 shares in 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 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.