SS&C Technologies (SSNC) PT Lowered to $60.00 at UBS Group
SS&C Technologies (NASDAQ:SSNC) had its target price decreased by UBS Group from $63.00 to $60.00 in a research note issued to investors on Tuesday morning, www.benzinga.com reports. UBS Group currently has a buy rating on the technology company’s stock.
Other research analysts have also recently issued reports about the stock. ValuEngine cut shares of SS&C Technologies from a buy rating to a hold rating in a report on Tuesday, October 2nd. Zacks Investment Research lowered shares of SS&C Technologies from a strong-buy rating to a hold rating in a research note on Wednesday, January 2nd. JPMorgan Chase & Co. set a $70.00 price target on shares of SS&C Technologies and gave the stock a buy rating in a research note on Thursday, November 1st. Deutsche Bank upgraded shares of SS&C Technologies from a hold rating to a buy rating and lifted their price target for the stock from $57.00 to $72.00 in a research note on Monday, September 10th. Finally, Rosenblatt Securities began coverage on shares of SS&C Technologies in a research note on Wednesday, December 5th. They issued a buy rating and a $64.00 price target for the company. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $63.86.
NASDAQ SSNC traded down $0.16 during trading hours on Tuesday, reaching $47.35. 67,622 shares of the company’s stock traded hands, compared to its average volume of 2,033,020. SS&C Technologies has a 52-week low of $40.96 and a 52-week high of $60.97. The stock has a market cap of $11.87 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 1.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.58 and a quick ratio of 1.58.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Saturday, December 1st were given a dividend of $0.08 per share. The ex-dividend date was Thursday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.68%. SS&C Technologies’s dividend payout ratio (DPR) is 17.88%.
In other SS&C Technologies news, Director Jonathan E. Michael bought 600 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was bought at an average cost of $49.79 per share, for a total transaction of $29,874.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Smita Conjeevaram bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The shares were acquired at an average price of $48.52 per share, with a total value of $145,560.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $145,560. The disclosure for this purchase can be found here. Insiders have purchased 35,798 shares of company stock valued at $1,675,881 over the last 90 days. 17.50% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Csenge Advisory Group bought a new position in shares of SS&C Technologies in the third quarter worth approximately $81,000. Sky Investment Group LLC bought a new position in shares of SS&C Technologies in the third quarter worth approximately $216,000. Signature Financial Management Inc. bought a new position in shares of SS&C Technologies in the second quarter worth approximately $208,000. Jane Street Group LLC bought a new position in shares of SS&C Technologies in the second quarter worth approximately $224,000. Finally, Winslow Evans & Crocker Inc. bought a new position in shares of SS&C Technologies in the third quarter worth approximately $286,000. Institutional investors own 80.01% of the company’s stock.
SS&C Technologies Company Profile
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services providers. Its products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, performance measurement, reconciliation, reporting, processing, and clearing.
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