SS&C Technologies (NASDAQ:SSNC) Given “Buy” Rating at DA Davidson

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

SSNC has been the subject of a number of other reports. StockNews.com raised SS&C Technologies from a buy rating to a strong-buy rating in a research note on Monday, January 29th. Truist Financial lifted their target price on SS&C Technologies from $55.00 to $60.00 and gave the company a hold rating in a research report on Wednesday, February 14th. UBS Group lifted their target price on SS&C Technologies from $72.00 to $77.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Needham & Company LLC lifted their target price on SS&C Technologies from $62.00 to $70.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada lifted their target price on SS&C Technologies from $65.00 to $72.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. Two equities 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 stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $70.78.

SS&C Technologies Price Performance

Shares of SS&C Technologies stock opened at $60.28 on Tuesday. SS&C Technologies has a one year low of $46.61 and a one year high of $65.86. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $14.90 billion, a price-to-earnings ratio of 25.33 and a beta of 1.43. The stock has a 50 day moving average price of $62.90 and a 200-day moving average price of $58.74.

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

SS&C Technologies Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Nordea Investment Management AB raised its position in shares of SS&C Technologies by 127.0% in the 4th quarter. Nordea Investment Management AB now owns 242,712 shares of the technology company’s stock worth $14,839,000 after acquiring an additional 135,775 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in SS&C Technologies by 22.8% during the 4th quarter. GHP Investment Advisors Inc. now owns 104,210 shares of the technology company’s stock worth $6,368,000 after buying an additional 19,374 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. purchased a new position in SS&C Technologies during the 4th quarter worth $2,388,000. Bank of New York Mellon Corp grew its stake in SS&C Technologies by 5.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,352,557 shares of the technology company’s stock worth $71,063,000 after buying an additional 68,359 shares during the last quarter. Finally, Nomura Holdings Inc. grew its stake in SS&C Technologies by 571.4% during the 3rd quarter. Nomura Holdings Inc. now owns 409,563 shares of the technology company’s stock worth $21,518,000 after buying an additional 348,563 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

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.