Zacks Investment Research upgraded shares of SS&C Technologies (NASDAQ:SSNC) from a hold rating to a buy rating in a report published on Saturday, Zacks.com reports. The brokerage currently has $83.00 price target 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. “
SSNC has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft raised their price objective on SS&C Technologies from $75.00 to $85.00 and gave the stock a buy rating in a research note on Monday, January 4th. Northern Trust Capital Markets started coverage on SS&C Technologies in a research note on Friday, December 18th. They set a hold rating and a $77.00 price objective on the stock. BTIG Research raised their price objective on SS&C Technologies from $72.00 to $85.00 and gave the stock a buy rating in a research note on Thursday, January 7th. Morgan Stanley lifted their price target on SS&C Technologies from $65.00 to $70.00 and gave the company an equal weight rating in a research note on Monday, March 8th. Finally, Credit Suisse Group began coverage on SS&C Technologies in a research note on Monday, March 1st. They issued an outperform rating on the stock. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $73.65.
SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings data on Tuesday, February 9th. The technology company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.08. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. SS&C Technologies had a return on equity of 20.42% and a net margin of 12.20%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. Analysts predict that SS&C Technologies will post 3.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Monday, March 1st were issued a $0.16 dividend. This is a boost from SS&C Technologies’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 26th. This represents a $0.64 annualized dividend and a dividend yield of 0.89%. SS&C Technologies’s dividend payout ratio (DPR) is presently 17.68%.
Several hedge funds and other institutional investors have recently made changes to their positions in SSNC. Harvest Fund Management Co. Ltd bought a new position in SS&C Technologies during the fourth quarter worth about $37,000. Capital Asset Advisory Services LLC bought a new position in SS&C Technologies during the fourth quarter worth about $39,000. IFP Advisors Inc grew its holdings in SS&C Technologies by 2,652.4% during the fourth quarter. IFP Advisors Inc now owns 578 shares of the technology company’s stock worth $44,000 after purchasing an additional 557 shares during the period. Sowell Financial Services LLC grew its holdings in SS&C Technologies by 294.3% during the fourth quarter. Sowell Financial Services LLC now owns 899 shares of the technology company’s stock worth $65,000 after purchasing an additional 671 shares during the period. Finally, Financial Avengers Inc. bought a new position in SS&C Technologies during the fourth quarter worth about $66,000. Institutional investors own 80.14% of the company’s stock.
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-to-back-office operations, performance and risk analytics, regulatory reporting, and healthcare information processes.
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