SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $99.00

SS&C Technologies (NASDAQ:SSNC) had its price target boosted by Royal Bank Of Canada from $97.00 to $99.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other equities analysts also recently weighed in on the company. Wall Street Zen upgraded SS&C Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. JPMorgan Chase & Co. lifted their target price on SS&C Technologies from $86.00 to $94.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. UBS Group lifted their target price 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. Raymond James Financial boosted their price objective on SS&C Technologies from $101.00 to $105.00 and gave the company a “strong-buy” rating in a research report on Friday. Finally, DA Davidson set a $102.00 price objective on SS&C Technologies in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, SS&C Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

SS&C Technologies Price Performance

NASDAQ SSNC opened at $84.63 on Friday. The company has a market capitalization of $20.67 billion, a PE ratio of 25.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14. The business’s fifty day moving average is $86.86 and its 200 day moving average is $82.96. SS&C Technologies has a fifty-two week low of $66.83 and a fifty-two week high of $91.07.

SS&C Technologies Increases Dividend

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

Institutional Investors Weigh In On SS&C Technologies

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in SS&C Technologies by 0.8% during the second quarter. Vanguard Group Inc. now owns 20,567,287 shares of the technology company’s stock worth $1,702,971,000 after acquiring an additional 165,821 shares during the last quarter. Pzena Investment Management LLC grew its stake in SS&C Technologies by 0.4% in the second quarter. Pzena Investment Management LLC now owns 10,460,579 shares of the technology company’s stock worth $866,136,000 after purchasing an additional 37,134 shares in the last quarter. Burgundy Asset Management Ltd. grew its stake in SS&C Technologies by 1.0% in the second quarter. Burgundy Asset Management Ltd. now owns 5,239,571 shares of the technology company’s stock worth $433,836,000 after purchasing an additional 53,264 shares in the last quarter. Geode Capital Management LLC grew its stake in SS&C Technologies by 0.4% in the second quarter. Geode Capital Management LLC now owns 3,715,723 shares of the technology company’s stock worth $306,639,000 after purchasing an additional 14,789 shares in the last quarter. Finally, Swedbank AB grew its stake in SS&C Technologies by 8.5% in the third quarter. Swedbank AB now owns 3,710,333 shares of the technology company’s stock worth $329,329,000 after purchasing an additional 290,679 shares in the last quarter. 96.90% of the stock is owned by institutional investors.

About SS&C Technologies

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.