SS&C Technologies (NASDAQ:SSNC) PT Raised to $74.00 at Needham & Company LLC

SS&C Technologies (NASDAQ:SSNC) had its price objective increased by Needham & Company LLC from $70.00 to $74.00 in a research note published on Friday, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Several other brokerages have also weighed in on SSNC. DA Davidson reiterated a buy rating and set a $78.00 price objective on shares of SS&C Technologies in a report on Tuesday, April 16th. TheStreet upgraded shares of SS&C Technologies from a c+ rating to a b rating in a report on Friday, February 23rd. Royal Bank of Canada upped their target price on shares of SS&C Technologies from $65.00 to $72.00 and gave the stock an outperform rating in a report on Wednesday, February 14th. StockNews.com upgraded shares of SS&C Technologies from a buy rating to a strong-buy rating in a report on Monday, January 29th. Finally, Truist Financial upped their target price on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a hold rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $71.22.

SS&C Technologies Price Performance

SSNC stock opened at $61.24 on Friday. The firm has a market cap of $15.14 billion, a price-to-earnings ratio of 24.40 and a beta of 1.43. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. SS&C Technologies has a 12-month low of $46.61 and a 12-month high of $65.86. The company’s fifty day simple moving average is $62.82 and its 200 day simple moving average is $59.08.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.13 earnings per share for the quarter, meeting the consensus estimate of $1.13. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.24%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. On average, analysts expect that SS&C Technologies will post 4.61 earnings per share for the current year.

SS&C Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Thursday, February 29th. SS&C Technologies’s dividend payout ratio (DPR) is presently 38.25%.

Institutional Investors Weigh In On SS&C Technologies

Large investors have recently modified their holdings of the stock. Headinvest LLC purchased a new position in SS&C Technologies in the third quarter worth about $26,000. ST Germain D J Co. Inc. purchased a new position in SS&C Technologies in the first quarter worth about $27,000. Operose Advisors LLC purchased a new position in SS&C Technologies in the third quarter worth about $34,000. Denali Advisors LLC purchased a new position in SS&C Technologies in the first quarter worth about $51,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in SS&C Technologies in the third quarter worth about $53,000. Institutional investors own 96.95% 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-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.