ValuEngine upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a hold rating to a buy rating in a research report report published on Tuesday morning.
Other equities analysts have also issued reports about the company. Sandler O’Neill reiterated a buy rating and issued a $62.00 price objective on shares of SS&C Technologies in a research note on Monday, July 23rd. Zacks Investment Research lowered SS&C Technologies from a hold rating to a sell rating in a research note on Friday, July 27th. Needham & Company LLC lifted their price objective on SS&C Technologies to $68.00 and gave the stock a buy rating in a research note on Monday, August 6th. JPMorgan Chase & Co. assumed coverage on SS&C Technologies in a research note on Wednesday, August 1st. They issued an overweight rating and a $70.00 price objective on the stock. Finally, Deutsche Bank lifted their price objective on SS&C Technologies from $51.00 to $54.00 and gave the stock a hold rating in a research note on Monday, May 21st. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $60.91.
NASDAQ SSNC opened at $55.15 on Tuesday. SS&C Technologies has a fifty-two week low of $37.45 and a fifty-two week high of $60.97. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 1.80 and a beta of 1.19.
SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, August 2nd. The technology company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.07. SS&C Technologies had a return on equity of 14.43% and a net margin of 9.99%. The company had revenue of $908.50 million for the quarter, compared to analyst estimates of $903.63 million. During the same period last year, the company earned $0.46 earnings per share. The business’s revenue was up 121.0% compared to the same quarter last year. analysts anticipate that SS&C Technologies will post 2.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 31st. This is a positive change from SS&C Technologies’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.58%. SS&C Technologies’s payout ratio is presently 17.88%.
Several institutional investors have recently bought and sold shares of SSNC. FDx Advisors Inc. acquired a new stake in SS&C Technologies during the first quarter worth about $321,000. Wells Fargo & Company MN grew its position in SS&C Technologies by 12.0% during the first quarter. Wells Fargo & Company MN now owns 138,771 shares of the technology company’s stock worth $7,445,000 after buying an additional 14,852 shares in the last quarter. Comerica Bank grew its position in SS&C Technologies by 51.9% during the first quarter. Comerica Bank now owns 13,742 shares of the technology company’s stock worth $696,000 after buying an additional 4,696 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in SS&C Technologies by 1.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,308 shares of the technology company’s stock worth $26,676,000 after buying an additional 6,020 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in SS&C Technologies by 22.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 10,750 shares of the technology company’s stock worth $615,000 after buying an additional 1,960 shares in the last quarter. Institutional investors and hedge funds own 83.58% of the company’s stock.
About SS&C Technologies
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.
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