Zacks Investment Research upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning. They currently have $71.00 price objective on the technology company’s stock.
According to Zacks, “SS&C Technologies Holdings, Inc. delivers investment and financial management software and related services focused exclusively on the financial services industry. The Company provides a broad range of specialized software, software enabled-services and software as a service (SaaS) solutions for operational excellence. SS&C Technologies delivers mission-critical processing for information management, analysis, trading, accounting, reporting and compliance. The Company serves clients in the following market verticals: 1) insurance entities and pension funds, 2) institutional asset management, 3) alternative investment management 4) treasury, banks and credit unions, 5) municipal finance, 6) real estate property management, 7) commercial lending, and 8) financial markets. SS&C Technologies Holdings, Inc. is headquartered in Windsor, CT and has offices throughout North America, Europe, Asia, and Australia. “
Several other analysts also recently weighed in on the stock. BidaskClub raised shares of SS&C Technologies from a buy rating to a strong-buy rating in a report on Wednesday, February 20th. JPMorgan Chase & Co. set a $70.00 target price on shares of SS&C Technologies and gave the company a buy rating in a report on Friday, February 15th. Royal Bank of Canada lifted their target price on shares of SS&C Technologies to $70.00 and gave the company an outperform rating in a report on Friday, February 15th. Needham & Company LLC reaffirmed a strong-buy rating and issued a $75.00 target price (up previously from $70.00) on shares of SS&C Technologies in a report on Friday, February 15th. Finally, Buckingham Research assumed coverage on shares of SS&C Technologies in a report on Thursday, January 24th. They issued a buy rating and a $65.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and four have given a strong buy rating to the company. SS&C Technologies has an average rating of Buy and an average target price of $66.27.
SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, February 14th. The technology company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. SS&C Technologies had a net margin of 3.01% and a return on equity of 16.27%. The business’s quarterly revenue was up 157.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. On average, research analysts forecast that SS&C Technologies will post 3.6 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 0.63%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.08. SS&C Technologies’s payout ratio is currently 15.27%.
In related news, CFO Patrick J. Pedonti sold 157,500 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $59.41, for a total transaction of $9,357,075.00. Following the sale, the chief financial officer now owns 57,500 shares of the company’s stock, valued at $3,416,075. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.50% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Nissay Asset Management Corp Japan ADV boosted its holdings in SS&C Technologies by 1.3% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 17,942 shares of the technology company’s stock worth $809,000 after buying an additional 225 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of SS&C Technologies by 0.9% in the fourth quarter. State of Alaska Department of Revenue now owns 25,225 shares of the technology company’s stock valued at $1,137,000 after purchasing an additional 230 shares in the last quarter. Nicolet Bankshares Inc. lifted its holdings in shares of SS&C Technologies by 5.6% in the fourth quarter. Nicolet Bankshares Inc. now owns 4,680 shares of the technology company’s stock valued at $211,000 after purchasing an additional 250 shares in the last quarter. BB&T Securities LLC lifted its holdings in shares of SS&C Technologies by 5.0% in the fourth quarter. BB&T Securities LLC now owns 6,838 shares of the technology company’s stock valued at $308,000 after purchasing an additional 327 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of SS&C Technologies by 3.6% in the fourth quarter. MML Investors Services LLC now owns 9,880 shares of the technology company’s stock valued at $446,000 after purchasing an additional 341 shares in the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.
About SS&C Technologies
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's 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, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.
Further Reading: How does new data get added to a blockchain?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SS&C Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SS&C Technologies and related companies with MarketBeat.com's FREE daily email newsletter.