SS&C Technologies (SSNC) Price Target Lowered to $60.00 at UBS Group

SS&C Technologies (NASDAQ:SSNC) had its price target decreased by UBS Group from $63.00 to $60.00 in a research note released on Tuesday, www.benzinga.com reports. UBS Group currently has a buy rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the company. BidaskClub cut SS&C Technologies from a buy rating to a hold rating in a report on Tuesday, October 9th. Rosenblatt Securities assumed coverage on SS&C Technologies in a report on Wednesday, December 5th. They set a buy rating and a $64.00 price objective on the stock. Zacks Investment Research upgraded SS&C Technologies from a hold rating to a strong-buy rating and set a $61.00 price objective on the stock in a report on Wednesday, October 10th. Needham & Company LLC upgraded SS&C Technologies from a buy rating to a strong-buy rating and raised their price objective for the stock from $68.00 to $70.00 in a report on Friday, December 7th. Finally, DA Davidson restated a hold rating and set a $60.00 price objective on shares of SS&C Technologies in a report on Monday, September 10th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $63.86.

SS&C Technologies stock opened at $47.47 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.57. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 26.52, a P/E/G ratio of 1.02 and a beta of 1.14. SS&C Technologies has a fifty-two week low of $40.96 and a fifty-two week high of $60.97.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Wednesday, October 31st. The technology company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. SS&C Technologies had a return on equity of 15.04% and a net margin of 7.61%. The company had revenue of $992.40 million during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the business posted $0.50 earnings per share. SS&C Technologies’s revenue was up 137.3% compared to the same quarter last year. On average, research analysts anticipate that SS&C Technologies will post 2.53 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Saturday, December 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Thursday, November 29th. SS&C Technologies’s payout ratio is currently 17.88%.

In related news, Director Smita Conjeevaram acquired 3,000 shares of SS&C Technologies stock in a transaction on Monday, November 12th. The shares were bought at an average price of $48.52 per share, for a total transaction of $145,560.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at approximately $145,560. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan E. Michael acquired 10,000 shares of SS&C Technologies stock in a transaction on Tuesday, November 20th. The shares were bought at an average price of $44.58 per share, for a total transaction of $445,800.00. The disclosure for this purchase can be found here. Insiders purchased 35,798 shares of company stock worth $1,675,881 in the last quarter. 17.50% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its stake in shares of SS&C Technologies by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 25,225 shares of the technology company’s stock worth $1,137,000 after purchasing an additional 230 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of SS&C Technologies by 0.7% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 162,601 shares of the technology company’s stock worth $9,241,000 after acquiring an additional 1,100 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of SS&C Technologies by 15.0% during the third quarter. CIBC Asset Management Inc now owns 9,564 shares of the technology company’s stock worth $544,000 after acquiring an additional 1,245 shares during the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of SS&C Technologies by 1.0% during the third quarter. NN Investment Partners Holdings N.V. now owns 152,492 shares of the technology company’s stock worth $8,666,000 after acquiring an additional 1,459 shares during the last quarter. Finally, DNB Asset Management AS increased its position in shares of SS&C Technologies by 9.0% during the third quarter. DNB Asset Management AS now owns 19,342 shares of the technology company’s stock worth $1,099,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors own 80.01% of the company’s stock.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, performance measurement, reconciliation, reporting, processing, and clearing.

Further Reading: Systematic Risk and Investors

Analyst Recommendations for SS&C Technologies (NASDAQ:SSNC)

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