SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $105.00

SS&C Technologies (NASDAQ:SSNC) had its target price lifted by Raymond James Financial from $101.00 to $105.00 in a research note published on Friday morning,Benzinga reports. Raymond James Financial currently has a strong-buy rating on the technology company’s stock.

Several other research firms have also issued reports on SSNC. JPMorgan Chase & Co. boosted their target price on SS&C Technologies from $86.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Needham & Company LLC boosted their target price on SS&C Technologies from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday. Wall Street Zen upgraded SS&C Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. UBS Group boosted their price objective on SS&C Technologies from $108.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Finally, Morgan Stanley upped their price target on SS&C Technologies from $88.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.38.

SS&C Technologies Price Performance

SS&C Technologies stock opened at $84.63 on Friday. The firm has a market capitalization of $20.67 billion, a P/E ratio of 25.11 and a beta of 1.23. SS&C Technologies has a 1 year low of $66.83 and a 1 year high of $91.07. The business has a 50-day moving average of $86.86 and a 200-day moving average of $82.96. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97.

SS&C Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.08 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $4.32 dividend on an annualized basis and a dividend yield of 5.1%. This is an increase from SS&C Technologies’s previous quarterly dividend of $0.25. SS&C Technologies’s dividend payout ratio (DPR) is currently 32.05%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Kestra Private Wealth Services LLC increased its holdings in shares of SS&C Technologies by 29.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 16,050 shares of the technology company’s stock worth $1,341,000 after acquiring an additional 3,698 shares during the last quarter. Bank of New York Mellon Corp increased its position in SS&C Technologies by 6.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,191,017 shares of the technology company’s stock worth $99,486,000 after buying an additional 75,807 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in SS&C Technologies by 403.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,865 shares of the technology company’s stock worth $6,337,000 after buying an additional 60,784 shares during the period. Envestnet Asset Management Inc. increased its position in SS&C Technologies by 31.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 736,523 shares of the technology company’s stock worth $61,522,000 after buying an additional 177,079 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in SS&C Technologies by 47.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,933 shares of the technology company’s stock worth $3,085,000 after buying an additional 11,863 shares during the period. 96.90% of the stock is owned by institutional investors and hedge funds.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.