SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $86.00 at Royal Bank of Canada

SS&C Technologies (NASDAQ:SSNC) had its price objective lifted by Royal Bank of Canada from $75.00 to $86.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities research analysts have also weighed in on SSNC. DA Davidson upped their target price on shares of SS&C Technologies from $84.00 to $88.00 and gave the stock a buy rating in a report on Monday, July 29th. Needham & Company LLC increased their price objective on SS&C Technologies from $81.00 to $90.00 and gave the stock a buy rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, SS&C Technologies has a consensus rating of Moderate Buy and a consensus target price of $73.75.

SS&C Technologies Trading Down 1.2 %

Shares of SS&C Technologies stock opened at $75.53 on Thursday. The stock has a market capitalization of $18.68 billion, a PE ratio of 30.09 and a beta of 1.38. SS&C Technologies has a 52 week low of $46.61 and a 52 week high of $76.94. The stock has a 50 day moving average price of $72.07 and a two-hundred day moving average price of $65.76. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.07. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm posted $0.96 EPS. SS&C Technologies’s revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that SS&C Technologies will post 4.66 earnings per share for the current fiscal year.

SS&C Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.24. SS&C Technologies’s dividend payout ratio (DPR) is currently 39.84%.

SS&C Technologies announced that its Board of Directors has approved a share buyback plan on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other SS&C Technologies news, Director Normand A. Boulanger sold 130,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $75.38, for a total value of $9,799,400.00. Following the completion of the transaction, the director now owns 333,576 shares in the company, valued at approximately $25,144,958.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SS&C Technologies news, Director Normand A. Boulanger sold 130,000 shares of SS&C Technologies stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the sale, the director now owns 333,576 shares of the company’s stock, valued at $25,144,958.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Rahul Kanwar sold 412,190 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the transaction, the chief operating officer now directly owns 57,642 shares of the company’s stock, valued at $4,215,359.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 590,690 shares of company stock worth $43,377,625. 15.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SSNC. Burgundy Asset Management Ltd. raised its stake in SS&C Technologies by 2.2% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,716,792 shares of the technology company’s stock valued at $288,243,000 after acquiring an additional 101,948 shares during the period. SG Americas Securities LLC raised its position in shares of SS&C Technologies by 39.3% in the first quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock valued at $4,305,000 after purchasing an additional 18,878 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of SS&C Technologies by 2,178.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock valued at $6,568,000 after buying an additional 100,197 shares in the last quarter. UBS Group AG lifted its stake in shares of SS&C Technologies by 24.5% during the 4th quarter. UBS Group AG now owns 401,090 shares of the technology company’s stock valued at $24,511,000 after buying an additional 79,029 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in SS&C Technologies by 4.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock worth $16,341,000 after buying an additional 11,497 shares during the period. Institutional investors own 96.95% of the company’s stock.

About SS&C Technologies

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.