Analysts Set SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) Target Price at $69.44

Shares of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $70.78.

SSNC has been the subject of a number of research analyst reports. Truist Financial raised their target price on SS&C Technologies from $55.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. StockNews.com upgraded SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 29th. TheStreet upgraded SS&C Technologies from a “c+” rating to a “b” rating in a research note on Friday, February 23rd. Needham & Company LLC boosted their target price on SS&C Technologies from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada boosted their target price on SS&C Technologies from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th.

SS&C Technologies Stock Up 0.4 %

NASDAQ SSNC opened at $60.47 on Tuesday. SS&C Technologies has a one year low of $46.61 and a one year high of $65.86. The company has a market cap of $14.95 billion, a P/E ratio of 25.41 and a beta of 1.43. The business has a fifty day moving average price of $62.89 and a 200 day moving average price of $58.76. 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 (NASDAQ:SSNC) last issued its earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, hitting 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 anticipate that SS&C Technologies will post 4.61 EPS for the current fiscal year.

SS&C Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 1.59%. SS&C Technologies’s payout ratio is currently 40.34%.

Hedge Funds Weigh In On SS&C Technologies

Institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB boosted its position in shares of SS&C Technologies by 127.0% in the fourth quarter. Nordea Investment Management AB now owns 242,712 shares of the technology company’s stock worth $14,839,000 after buying an additional 135,775 shares during the period. GHP Investment Advisors Inc. increased its position in SS&C Technologies by 22.8% in the 4th quarter. GHP Investment Advisors Inc. now owns 104,210 shares of the technology company’s stock valued at $6,368,000 after acquiring an additional 19,374 shares during the period. Klein Pavlis & Peasley Financial Inc. bought a new position in SS&C Technologies during the 4th quarter valued at $2,388,000. Mackenzie Financial Corp boosted its stake in SS&C Technologies by 18.8% during the 4th quarter. Mackenzie Financial Corp now owns 1,017,953 shares of the technology company’s stock valued at $62,207,000 after purchasing an additional 161,165 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of SS&C Technologies by 5.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,352,557 shares of the technology company’s stock worth $71,063,000 after acquiring an additional 68,359 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Company Profile

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.