SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $61.00 at Jefferies Financial Group

SS&C Technologies (NASDAQ:SSNC) had its price target boosted by Jefferies Financial Group from $54.00 to $61.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a hold rating on the technology company’s stock.

Several other research firms also recently weighed in on SSNC. Needham & Company LLC raised their target price on SS&C Technologies from $70.00 to $74.00 and gave the company a buy rating in a research report on Friday. Citigroup raised their price objective on SS&C Technologies from $70.00 to $71.00 and gave the company a buy rating in a report on Thursday, February 15th. DA Davidson reaffirmed a buy rating and set a $78.00 target price on shares of SS&C Technologies in a research note on Tuesday, April 16th. TheStreet upgraded shares of SS&C Technologies from a c+ rating to a b rating in a research report on Friday, February 23rd. Finally, Truist Financial boosted their price target on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a hold rating in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $70.20.

SS&C Technologies Trading Up 1.1 %

NASDAQ:SSNC opened at $61.92 on Monday. The company has a market capitalization of $15.31 billion, a P/E ratio of 24.67 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. The firm has a fifty day simple moving average of $62.78 and a 200-day simple moving average of $59.24. SS&C Technologies has a 12 month low of $46.61 and a 12 month high of $65.86.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, meeting the consensus estimate of $1.13. SS&C Technologies had a return on equity of 17.24% and a net margin of 11.46%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. On average, equities research analysts anticipate that SS&C Technologies will post 4.61 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, February 29th. SS&C Technologies’s dividend payout ratio (DPR) is presently 38.25%.

Institutional Trading of SS&C Technologies

Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of SS&C Technologies during the 4th quarter worth $168,860,000. Junto Capital Management LP boosted its stake in SS&C Technologies by 183.0% during the fourth quarter. Junto Capital Management LP now owns 1,471,190 shares of the technology company’s stock worth $89,904,000 after buying an additional 951,269 shares during the period. Boston Partners increased its position in shares of SS&C Technologies by 5.3% during the third quarter. Boston Partners now owns 8,687,812 shares of the technology company’s stock valued at $455,894,000 after acquiring an additional 435,377 shares during the last quarter. KBC Group NV increased its position in shares of SS&C Technologies by 243.1% during the fourth quarter. KBC Group NV now owns 507,749 shares of the technology company’s stock worth $31,029,000 after acquiring an additional 359,741 shares during the period. Finally, Nomura Holdings Inc. raised its stake in shares of SS&C Technologies by 571.4% in the third quarter. Nomura Holdings Inc. now owns 409,563 shares of the technology company’s stock valued at $21,518,000 after acquiring an additional 348,563 shares in the last quarter. 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.