SS&C Technologies (NASDAQ:SSNC) had its target price cut by Raymond James from $78.00 to $60.00 in a report released on Tuesday, July 30th, Stock Target Advisor reports. They currently have a strong-buy rating on the technology company’s stock.
Several other equities analysts also recently commented on the company. Credit Suisse Group dropped their price objective on SS&C Technologies from $75.00 to $65.00 and set an outperform rating on the stock in a research note on Tuesday, July 30th. Jefferies Financial Group downgraded SS&C Technologies from a buy rating to a hold rating and increased their target price for the stock from $58.00 to $64.00 in a research report on Wednesday, May 1st. Zacks Investment Research downgraded SS&C Technologies from a buy rating to a hold rating in a research report on Tuesday, May 7th. UBS Group upped their price target on shares of SS&C Technologies from $75.00 to $80.00 and gave the stock a buy rating in a report on Tuesday, April 9th. Finally, BidaskClub raised shares of SS&C Technologies from a buy rating to a strong-buy rating in a report on Saturday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $69.00.
Shares of NASDAQ SSNC traded down $0.32 during midday trading on Tuesday, reaching $45.80. The company’s stock had a trading volume of 1,769,900 shares, compared to its average volume of 1,718,614. SS&C Technologies has a 12-month low of $40.96 and a 12-month high of $67.73. The firm has a 50 day moving average price of $52.40 and a 200-day moving average price of $58.14. The stock has a market capitalization of $11.62 billion, a P/E ratio of 17.48, a PEG ratio of 1.86 and a beta of 1.25. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.09 and a quick ratio of 1.09.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. SS&C Technologies’s dividend payout ratio (DPR) is currently 15.27%.
In related news, Director Jonathan E. Michael acquired 2,000 shares of SS&C Technologies stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $48.11 per share, with a total value of $96,220.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 14.50% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. CWM LLC lifted its holdings in SS&C Technologies by 18.7% in the first quarter. CWM LLC now owns 1,036 shares of the technology company’s stock worth $66,000 after buying an additional 163 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in SS&C Technologies by 0.7% in the first quarter. Oppenheimer & Co. Inc. now owns 26,735 shares of the technology company’s stock worth $1,703,000 after buying an additional 179 shares during the period. Creative Planning lifted its holdings in SS&C Technologies by 3.5% in the second quarter. Creative Planning now owns 5,497 shares of the technology company’s stock worth $317,000 after buying an additional 187 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in SS&C Technologies by 1.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,588 shares of the technology company’s stock worth $865,000 after buying an additional 251 shares during the period. Finally, Bronfman E.L. Rothschild L.P. lifted its holdings in SS&C Technologies by 2.0% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 13,410 shares of the technology company’s stock worth $773,000 after buying an additional 260 shares during the period. Institutional investors own 83.35% of the company’s stock.
About SS&C Technologies
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's 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, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.
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