SS&C Technologies (NASDAQ:SSNC) Given “Buy” Rating at DA Davidson

DA Davidson reissued their buy rating on shares of SS&C Technologies (NASDAQ:SSNC) in a research report released on Tuesday, Benzinga reports. They currently have a $78.00 price target on the technology company’s stock.

A number of other research firms also recently issued reports on SSNC. StockNews.com upgraded shares of SS&C Technologies from a buy rating to a strong-buy rating in a research report on Monday, January 29th. Needham & Company LLC lifted their price target on shares of SS&C Technologies from $62.00 to $70.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Truist Financial lifted their price target on shares of SS&C Technologies from $55.00 to $60.00 and gave the company a hold rating in a research report on Wednesday, February 14th. TheStreet upgraded shares of SS&C Technologies from a c+ rating to a b rating in a research report on Friday, February 23rd. Finally, UBS Group lifted their price target on shares of SS&C Technologies from $72.00 to $77.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $70.78.

SS&C Technologies Price Performance

Shares of SSNC opened at $60.28 on Tuesday. SS&C Technologies has a twelve month low of $46.61 and a twelve month high of $65.86. The stock’s 50 day moving average is $62.90 and its two-hundred day moving average is $58.74. The firm has a market capitalization of $14.90 billion, a PE ratio of 25.33 and a beta of 1.43. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.13. SS&C Technologies had a net margin of 11.03% and a return on equity of 16.74%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. Research analysts anticipate that SS&C Technologies will post 4.61 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.59%. SS&C Technologies’s dividend payout ratio is currently 40.34%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Norris Perne & French LLP MI raised its holdings in SS&C Technologies by 24.9% in the 1st quarter. Norris Perne & French LLP MI now owns 279,097 shares of the technology company’s stock valued at $17,965,000 after acquiring an additional 55,621 shares during the last quarter. Signet Financial Management LLC raised its holdings in SS&C Technologies by 2.9% in the 1st quarter. Signet Financial Management LLC now owns 65,049 shares of the technology company’s stock valued at $4,187,000 after acquiring an additional 1,803 shares during the last quarter. Eagle Rock Investment Company LLC raised its holdings in SS&C Technologies by 2.4% in the 1st quarter. Eagle Rock Investment Company LLC now owns 59,207 shares of the technology company’s stock valued at $3,811,000 after acquiring an additional 1,392 shares during the last quarter. Triad Investment Management raised its holdings in SS&C Technologies by 2.3% in the 1st quarter. Triad Investment Management now owns 53,204 shares of the technology company’s stock valued at $3,425,000 after acquiring an additional 1,192 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its holdings in SS&C Technologies by 17.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 8,756 shares of the technology company’s stock valued at $564,000 after acquiring an additional 1,310 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Company Profile

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.