SS&C Technologies (NASDAQ:SSNC) Rating Reiterated by DA Davidson

DA Davidson reiterated their buy rating on shares of SS&C Technologies (NASDAQ:SSNC) in a research report report published on Tuesday, Benzinga reports. DA Davidson currently has a $78.00 price target on the technology company’s stock.

Other equities analysts also recently issued research reports about the company. StockNews.com upgraded SS&C Technologies from a buy rating to a strong-buy rating in a research note on Monday, January 29th. UBS Group lifted their target price on shares of SS&C Technologies from $72.00 to $77.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. TheStreet raised shares of SS&C Technologies from a c+ rating to a b rating in a research report on Friday, February 23rd. Citigroup lifted their target price on shares of SS&C Technologies from $70.00 to $71.00 and gave the stock a buy rating in a research report on Thursday, February 15th. Finally, Royal Bank of Canada lifted their target price on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an outperform rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $70.78.

SS&C Technologies Price Performance

SSNC stock opened at $60.82 on Tuesday. The company has a market capitalization of $15.04 billion, a P/E ratio of 25.55 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $65.86. The business has a 50-day simple moving average of $62.89 and a two-hundred day simple moving average of $58.82.

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

SS&C Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.58%. SS&C Technologies’s dividend payout ratio (DPR) is presently 40.34%.

Institutional Investors Weigh In On SS&C Technologies

A number of hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. grew its stake in SS&C Technologies by 0.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 25,838 shares of the technology company’s stock valued at $1,346,000 after buying an additional 162 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in SS&C Technologies by 14.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $79,000 after buying an additional 166 shares in the last quarter. Carret Asset Management LLC grew its stake in SS&C Technologies by 2.5% in the 4th quarter. Carret Asset Management LLC now owns 7,070 shares of the technology company’s stock valued at $432,000 after buying an additional 175 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in SS&C Technologies by 2.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,583 shares of the technology company’s stock valued at $395,000 after buying an additional 181 shares in the last quarter. Finally, Scotia Capital Inc. grew its stake in SS&C Technologies by 0.3% in the 4th quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock valued at $3,369,000 after buying an additional 191 shares in the last quarter. Institutional investors own 96.95% of the company’s stock.

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.