Brokerages Set SS&C Technologies Holdings, Inc. (SSNC) Price Target at $51.63
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) has received an average recommendation of “Buy” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $51.63.
A number of equities research analysts recently issued reports on SSNC shares. UBS Group reissued a “buy” rating and issued a $49.00 price objective on shares of SS&C Technologies in a report on Thursday, December 14th. BidaskClub lowered shares of SS&C Technologies from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. Raymond James Financial raised shares of SS&C Technologies from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, November 21st. Royal Bank of Canada upped their price objective on shares of SS&C Technologies to $60.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Finally, Citigroup raised shares of SS&C Technologies to a “strong-buy” rating and upped their price objective for the company from $43.00 to $46.00 in a report on Tuesday, November 21st.
Shares of SS&C Technologies (SSNC) traded up $0.13 on Wednesday, hitting $50.36. 144,939 shares of the company were exchanged, compared to its average volume of 1,865,496. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.96 and a quick ratio of 0.96. SS&C Technologies has a 12-month low of $34.75 and a 12-month high of $51.39. The stock has a market capitalization of $10,340.00, a price-to-earnings ratio of 44.06, a P/E/G ratio of 1.61 and a beta of 1.29.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.56%. The ex-dividend date is Wednesday, February 28th. SS&C Technologies’s dividend payout ratio (DPR) is presently 24.56%.
In other SS&C Technologies news, CFO Patrick J. Pedonti sold 20,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $40.39, for a total transaction of $807,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 17.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. State of Wisconsin Investment Board boosted its stake in SS&C Technologies by 7.4% during the third quarter. State of Wisconsin Investment Board now owns 157,385 shares of the technology company’s stock worth $6,319,000 after buying an additional 10,885 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in SS&C Technologies by 138.3% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 238,338 shares of the technology company’s stock worth $9,569,000 after buying an additional 138,338 shares during the period. Dimensional Fund Advisors LP boosted its stake in SS&C Technologies by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,114,770 shares of the technology company’s stock worth $44,755,000 after buying an additional 16,994 shares during the period. Bellwether Investment Group LLC purchased a new position in SS&C Technologies during the fourth quarter worth about $301,000. Finally, Toronto Dominion Bank boosted its stake in SS&C Technologies by 243.8% during the third quarter. Toronto Dominion Bank now owns 7,324 shares of the technology company’s stock worth $294,000 after buying an additional 5,194 shares during the period. 85.17% of the stock is owned by institutional investors.
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About SS&C Technologies
SS&C Technologies Holdings, Inc is a holding company. The Company is a provider of software products and software-enabled services that allow financial services providers to automate complex business processes and manage their information processing requirements. The Company’s portfolio of software products and software-enabled services allows its clients to automate and integrate front-office functions, such as trading and modeling, middle-office functions, such as portfolio management and reporting, and back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing.
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