SS&C Technologies’ (SSNC) Buy Rating Reiterated at DA Davidson

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

Several other equities research analysts also recently weighed in on SSNC. Citigroup increased their target price on shares of SS&C Technologies from $70.00 to $71.00 and gave the stock a buy rating in a research note on Thursday, February 15th. Royal Bank of Canada increased their target price on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an outperform rating in a research note on Wednesday, February 14th. StockNews.com raised shares of SS&C Technologies from a buy rating to a strong-buy rating in a report on Monday, January 29th. UBS Group increased their price target on shares of SS&C Technologies from $72.00 to $77.00 and gave the stock a buy rating in a report on Wednesday, February 14th. Finally, TheStreet raised shares of SS&C Technologies from a c+ rating to a b rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $70.78.

SS&C Technologies Stock Performance

NASDAQ SSNC opened at $60.47 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $65.86. The company has a market capitalization of $14.95 billion, a PE ratio of 25.41 and a beta of 1.43. The company has a fifty day moving average of $62.89 and a two-hundred day moving average of $58.76.

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

SS&C Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.59%. SS&C Technologies’s dividend payout ratio (DPR) is presently 40.34%.

Hedge Funds Weigh In On SS&C Technologies

A number of hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. raised its stake in shares of SS&C Technologies by 0.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 25,838 shares of the technology company’s stock valued at $1,346,000 after acquiring an additional 162 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of SS&C Technologies by 14.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $79,000 after acquiring an additional 166 shares during the period. Carret Asset Management LLC raised its stake in shares of SS&C Technologies by 2.5% in the 4th quarter. Carret Asset Management LLC now owns 7,070 shares of the technology company’s stock valued at $432,000 after acquiring an additional 175 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of SS&C Technologies by 2.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,583 shares of the technology company’s stock valued at $395,000 after acquiring an additional 181 shares during the period. Finally, Scotia Capital Inc. increased its stake in SS&C Technologies by 0.3% during the 4th quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock worth $3,369,000 after buying an additional 191 shares during the period. Hedge funds and other institutional investors own 96.95% of the company’s stock.

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.