SS&C Technologies (NASDAQ:SSNC) had its target price cut by Credit Suisse Group from $75.00 to $65.00 in a report released on Tuesday, July 30th, The Fly reports. They currently have an outperform rating on the technology company’s stock.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded SS&C Technologies from a buy rating to a hold rating in a research report on Tuesday, May 7th. DA Davidson downgraded SS&C Technologies from a buy rating to a neutral rating in a research report on Tuesday, July 30th. Needham & Company LLC restated a strong-buy rating and set a $77.00 target price (up previously from $75.00) on shares of SS&C Technologies in a research report on Wednesday, May 1st. JPMorgan Chase & Co. restated a buy rating on shares of SS&C Technologies in a research report on Monday, July 1st. Finally, BidaskClub upgraded SS&C Technologies from a buy rating to a strong-buy rating in a research 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.
SSNC traded down $0.32 during midday trading on Tuesday, reaching $45.80. 1,769,900 shares of the company were exchanged, compared to its average volume of 1,718,614. SS&C Technologies has a one year low of $40.96 and a one year high of $67.73. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.09 and a current ratio of 1.09. The company’s fifty day moving average price is $52.40 and its 200 day moving average price is $58.14. The company has a market cap of $11.62 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.86 and a beta of 1.25.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 0.87%. SS&C Technologies’s dividend payout ratio is presently 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 owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new position in shares of SS&C Technologies during the second quarter valued at approximately $25,000. Versant Capital Management Inc increased its position in shares of SS&C Technologies by 202.7% during the first quarter. Versant Capital Management Inc now owns 448 shares of the technology company’s stock valued at $28,000 after acquiring an additional 300 shares in the last quarter. Capital Investment Advisory Services LLC increased its position in shares of SS&C Technologies by 930.0% during the second quarter. Capital Investment Advisory Services LLC now owns 515 shares of the technology company’s stock valued at $30,000 after acquiring an additional 465 shares in the last quarter. Hudock Capital Group LLC bought a new stake in SS&C Technologies in the 2nd quarter worth approximately $42,000. Finally, Quad Cities Investment Group LLC bought a new stake in SS&C Technologies in the 1st quarter worth approximately $48,000. 83.35% of the stock is currently owned by hedge funds and other institutional investors.
SS&C Technologies Company Profile
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.
See Also: Return on Equity (ROE)
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