Rosenblatt Securities started coverage on shares of SS&C Technologies (NASDAQ:SSNC) in a research note issued to investors on Wednesday morning, The Fly reports. The brokerage issued a buy rating and a $64.00 price objective on the technology company’s stock.
SSNC has been the subject of a number of other reports. JPMorgan Chase & Co. set a $70.00 price target on shares of SS&C Technologies and gave the company a buy rating in a research report on Tuesday, October 23rd. DA Davidson upgraded shares of SS&C Technologies from a neutral rating to a buy rating in a research report on Friday, November 16th. BidaskClub lowered shares of SS&C Technologies from a buy rating to a hold rating in a research report on Thursday, August 9th. ValuEngine upgraded shares of SS&C Technologies from a hold rating to a buy rating in a research report on Tuesday, September 4th. Finally, Raymond James boosted their price target on shares of SS&C Technologies from $67.00 to $68.00 and gave the company a strong-buy rating in a research report on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. SS&C Technologies has a consensus rating of Buy and a consensus price target of $64.36.
Shares of SSNC stock opened at $46.53 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.57. SS&C Technologies has a 1 year low of $39.73 and a 1 year high of $60.97. The firm has a market cap of $11.77 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21.
SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Wednesday, October 31st. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. SS&C Technologies had a net margin of 7.61% and a return on equity of 15.04%. The business had revenue of $992.40 million for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 137.3% compared to the same quarter last year. As a group, sell-side analysts expect that SS&C Technologies will post 2.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Saturday, December 1st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.69%. SS&C Technologies’s dividend payout ratio (DPR) is currently 17.88%.
In related news, Director Jonathan E. Michael bought 600 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was bought at an average cost of $49.79 per share, for a total transaction of $29,874.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan E. Michael bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The stock was bought at an average price of $44.58 per share, with a total value of $445,800.00. The disclosure for this purchase can be found here. Insiders purchased 35,714 shares of company stock valued at $1,672,420 over the last quarter. 17.50% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Sky Investment Group LLC purchased a new position in SS&C Technologies in the third quarter worth $216,000. Dupont Capital Management Corp purchased a new position in SS&C Technologies in the second quarter worth $207,000. Signature Financial Management Inc. purchased a new position in SS&C Technologies in the second quarter worth $208,000. Jane Street Group LLC purchased a new position in SS&C Technologies in the second quarter worth $224,000. Finally, Winslow Evans & Crocker Inc. purchased a new position in SS&C Technologies in the third quarter worth $286,000. Institutional investors own 83.90% of the company’s stock.
SS&C Technologies Company Profile
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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