Needham & Company LLC Cuts SS&C Technologies (NASDAQ:SSNC) Price Target to $90.00

SS&C Technologies (NASDAQ:SSNC) had its price objective reduced by Needham & Company LLC from $105.00 to $90.00 in a research note issued to investors on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Other equities analysts also recently issued research reports about the company. Raymond James lifted their price target on SS&C Technologies from $85.00 to $95.00 and gave the company a “strong-buy” rating in a research note on Friday, February 7th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. UBS Group raised their price objective on SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Royal Bank of Canada upped their target price on shares of SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $70.00 to $94.00 in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat, SS&C Technologies presently has an average rating of “Buy” and a consensus target price of $92.71.

SS&C Technologies Stock Down 6.1 %

SS&C Technologies stock opened at $72.69 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $17.91 billion, a price-to-earnings ratio of 24.23 and a beta of 1.31. The firm has a 50 day moving average price of $81.25 and a two-hundred day moving average price of $78.60. SS&C Technologies has a 52-week low of $60.01 and a 52-week high of $89.73.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. Equities analysts predict that SS&C Technologies will post 5.35 EPS for the current year.

SS&C Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued 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 1.38%. SS&C Technologies’s dividend payout ratio (DPR) is presently 31.06%.

Insiders Place Their Bets

In other news, Director Michael Jay Zamkow sold 23,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the completion of the transaction, the director now owns 23,200 shares in the company, valued at approximately $2,050,648. This represents a 49.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jason Douglas White sold 71,000 shares of SS&C Technologies stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total value of $6,316,160.00. Following the completion of the sale, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at approximately $570,411.52. This trade represents a 91.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Atwood & Palmer Inc. boosted its holdings in shares of SS&C Technologies by 125.8% in the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company’s stock worth $25,000 after acquiring an additional 166 shares during the period. Kestra Investment Management LLC bought a new position in SS&C Technologies in the 4th quarter worth about $39,000. Parkside Financial Bank & Trust grew its holdings in SS&C Technologies by 76.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $40,000 after buying an additional 229 shares in the last quarter. True Wealth Design LLC increased its position in shares of SS&C Technologies by 163.6% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the technology company’s stock valued at $42,000 after buying an additional 342 shares during the period. Finally, Colonial Trust Co SC lifted its holdings in shares of SS&C Technologies by 239.3% in the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company’s stock worth $42,000 after buying an additional 390 shares in the last quarter. 96.95% of the stock is owned by institutional investors.

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.