SS&C Technologies (NASDAQ:SSNC) Price Target Increased to $75.00 by Analysts at Royal Bank of Canada

SS&C Technologies (NASDAQ:SSNC) had its price target lifted by Royal Bank of Canada from $72.00 to $75.00 in a report published on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group lifted their target price on shares of SS&C Technologies from $54.00 to $61.00 and gave the company a hold rating in a research note on Monday, April 29th. DA Davidson lifted their target price on shares of SS&C Technologies from $78.00 to $84.00 and gave the company a buy rating in a research note on Thursday, July 18th. Finally, Needham & Company LLC lifted their target price on shares of SS&C Technologies from $74.00 to $81.00 and gave the company a buy rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $71.80.

SS&C Technologies Stock Up 6.3 %

SSNC stock opened at $72.29 on Friday. SS&C Technologies has a twelve month low of $46.61 and a twelve month high of $73.30. The company has a market cap of $17.88 billion, a PE ratio of 28.80 and a beta of 1.38. The business’s 50-day simple moving average is $63.10 and its 200 day simple moving average is $62.52. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.52%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 earnings per share. On average, research analysts anticipate that SS&C Technologies will post 4.62 earnings per share for the current year.

SS&C Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Monday, June 3rd. SS&C Technologies’s dividend payout ratio is presently 38.25%.

Insiders Place Their Bets

In other SS&C Technologies news, Director Michael Jay Zamkow sold 7,500 shares of SS&C Technologies stock in a transaction on Monday, June 17th. The shares were sold at an average price of $60.46, for a total transaction of $453,450.00. Following the completion of the sale, the director now owns 41,576 shares of the company’s stock, valued at approximately $2,513,684.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 32,500 shares of company stock valued at $2,027,750. Company insiders own 15.40% of the company’s stock.

Institutional Trading of SS&C Technologies

Institutional investors have recently bought and sold shares of the business. Quent Capital LLC grew its holdings in shares of SS&C Technologies by 76.8% in the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock valued at $25,000 after buying an additional 172 shares during the period. ST Germain D J Co. Inc. acquired a new position in shares of SS&C Technologies in the 1st quarter valued at $27,000. Versant Capital Management Inc grew its holdings in shares of SS&C Technologies by 6,300.0% in the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after buying an additional 693 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of SS&C Technologies in the 2nd quarter valued at $47,000. Finally, Denali Advisors LLC acquired a new position in shares of SS&C Technologies in the 1st quarter valued at $51,000. Institutional investors and hedge funds 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.