SS&C Technologies (NASDAQ:SSNC) Shares Gap Down on Analyst Downgrade

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC - Get Free Report) shares gapped down before the market opened on Friday after DA Davidson lowered their price target on the stock from $100.00 to $94.00. The stock had previously closed at $77.43, but opened at $71.21. DA Davidson currently has a buy rating on the stock. SS&C Technologies shares last traded at $72.18, with a volume of 845,266 shares.

A number of other research analysts have also weighed in on SSNC. Royal Bank of Canada raised their price target on shares of SS&C Technologies from $86.00 to $96.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $86.00 target price (down previously from $90.00) on shares of SS&C Technologies in a research report on Friday. StockNews.com lowered SS&C Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday. Raymond James cut their price objective on SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating on the stock in a research report on Friday. Finally, UBS Group raised their target price on SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $91.86.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, SVP Jason Douglas White sold 71,000 shares of the stock in a transaction 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 sale, the senior vice president now owns 6,412 shares in the company, valued at $570,411.52. This represents a 91.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Jay Zamkow sold 23,000 shares of SS&C Technologies stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total value of $2,032,970.00. Following the completion of the transaction, the director now owns 23,200 shares of the company's stock, valued at approximately $2,050,648. This trade represents a 49.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.40% of the company's stock.

Institutional Investors Weigh In On SS&C Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SSNC. Truist Financial Corp increased its holdings in SS&C Technologies by 82.0% during the 4th quarter. Truist Financial Corp now owns 19,078 shares of the technology company's stock worth $1,446,000 after acquiring an additional 8,598 shares during the period. Thompson Siegel & Walmsley LLC increased its holdings in shares of SS&C Technologies by 993.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 355,286 shares of the technology company's stock worth $26,924,000 after purchasing an additional 322,781 shares during the period. ZWJ Investment Counsel Inc. boosted its stake in SS&C Technologies by 3.5% during 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 during the period. Benson Investment Management Company Inc. purchased a new position in SS&C Technologies during the fourth quarter worth about $5,578,000. Finally, Swedbank AB increased its stake in SS&C Technologies by 17.5% in the 4th quarter. Swedbank AB now owns 1,753,236 shares of the technology company's stock worth $132,860,000 after acquiring an additional 261,275 shares during the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

SS&C Technologies Trading Up 2.1 %

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The stock has a market cap of $18.46 billion, a PE ratio of 24.97 and a beta of 1.31. The firm has a fifty day simple moving average of $80.93 and a two-hundred day simple moving average of $78.59.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.03. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. SS&C Technologies's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 earnings per share. As a group, equities analysts expect that SS&C Technologies Holdings, Inc. will post 5.35 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, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 1.33%. SS&C Technologies's payout ratio is 31.06%.

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.