Zacks Investment Research upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $61.00 price objective on the technology company’s stock.
According to Zacks, “SS&C Technologies Holdings, Inc. delivers investment and financial management software and related services focused exclusively on the financial services industry. The Company provides a broad range of specialized software, software enabled-services and software as a service (SaaS) solutions for operational excellence. SS&C Technologies delivers mission-critical processing for information management, analysis, trading, accounting, reporting and compliance. The Company serves clients in the following market verticals: 1) insurance entities and pension funds, 2) institutional asset management, 3) alternative investment management 4) treasury, banks and credit unions, 5) municipal finance, 6) real estate property management, 7) commercial lending, and 8) financial markets. SS&C Technologies Holdings, Inc. is headquartered in Windsor, CT and has offices throughout North America, Europe, Asia, and Australia. “
Several other equities analysts also recently commented on the company. Deutsche Bank upgraded SS&C Technologies from a hold rating to a buy rating and raised their target price for the stock from $57.00 to $72.00 in a research report on Monday, September 10th. Sandler O’Neill reaffirmed a buy rating and set a $62.00 price target on shares of SS&C Technologies in a report on Monday, July 23rd. Needham & Company LLC raised their price target on SS&C Technologies to $68.00 and gave the company a buy rating in a report on Monday, August 6th. DA Davidson cut SS&C Technologies from a buy rating to a neutral rating and dropped their price target for the company from $62.00 to $60.00 in a report on Friday, September 7th. Finally, JPMorgan Chase & Co. began coverage on SS&C Technologies in a report on Wednesday, August 1st. They set an overweight rating and a $70.00 price target for the company. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $63.00.
Shares of SS&C Technologies stock traded up $1.60 during midday trading on Wednesday, hitting $51.11. 1,595,662 shares of the company were exchanged, compared to its average volume of 1,612,793. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.53 and a quick ratio of 1.53. The company has a market capitalization of $13.62 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.19. SS&C Technologies has a 52 week low of $39.15 and a 52 week high of $60.97.
SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, August 2nd. The technology company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. The business had revenue of $908.50 million during the quarter, compared to the consensus estimate of $903.63 million. SS&C Technologies had a return on equity of 14.43% and a net margin of 9.99%. SS&C Technologies’s revenue was up 121.0% on a year-over-year basis. During the same quarter last year, the company earned $0.46 EPS. Equities analysts anticipate that SS&C Technologies will post 2.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.63%. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, August 31st. SS&C Technologies’s dividend payout ratio (DPR) is currently 17.88%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado increased its stake in shares of SS&C Technologies by 0.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 372,413 shares of the technology company’s stock valued at $19,328,000 after buying an additional 1,127 shares during the period. CIBC Asset Management Inc increased its stake in shares of SS&C Technologies by 18.3% in the 2nd quarter. CIBC Asset Management Inc now owns 8,319 shares of the technology company’s stock valued at $432,000 after buying an additional 1,284 shares during the period. Aperio Group LLC increased its stake in shares of SS&C Technologies by 4.4% in the 2nd quarter. Aperio Group LLC now owns 31,031 shares of the technology company’s stock valued at $1,611,000 after buying an additional 1,320 shares during the period. Intrust Bank NA increased its stake in shares of SS&C Technologies by 35.8% in the 2nd quarter. Intrust Bank NA now owns 5,625 shares of the technology company’s stock valued at $292,000 after buying an additional 1,482 shares during the period. Finally, DNB Asset Management AS increased its stake in shares of SS&C Technologies by 9.0% in the 3rd quarter. DNB Asset Management AS now owns 19,342 shares of the technology company’s stock valued at $1,099,000 after buying an additional 1,600 shares during the period. 86.81% of the stock is owned by institutional investors.
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.
Featured Article: Trading Strategy Methods for Individual Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SS&C Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SS&C Technologies and related companies with MarketBeat.com's FREE daily email newsletter.