SS&C Technologies (NASDAQ:SSNC) Given New $78.00 Price Target at Credit Suisse Group

SS&C Technologies (NASDAQ:SSNCGet Rating) had its target price cut by Credit Suisse Group from $85.00 to $78.00 in a research report sent to investors on Thursday morning, The Fly reports. They currently have an outperform rating on the technology company’s stock.

Several other analysts have also issued reports on the company. William Blair restated an outperform rating on shares of SS&C Technologies in a research note on Monday, July 25th. Raymond James reduced their price target on SS&C Technologies from $95.00 to $93.00 and set a strong-buy rating for the company in a research report on Tuesday, April 5th. StockNews.com cut SS&C Technologies from a strong-buy rating to a buy rating in a research report on Friday, April 29th. Citigroup reduced their target price on SS&C Technologies from $86.00 to $75.00 in a research report on Tuesday, July 26th. Finally, Piper Sandler cut their price objective on SS&C Technologies from $89.00 to $67.00 and set an overweight rating for the company in a report on Wednesday, July 6th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $80.00.

SS&C Technologies Stock Performance

Shares of SSNC opened at $59.17 on Thursday. The firm has a market cap of $15.08 billion, a PE ratio of 19.86 and a beta of 1.53. The stock’s fifty day moving average price is $60.31 and its two-hundred day moving average price is $68.80. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.08 and a quick ratio of 1.08. SS&C Technologies has a 1 year low of $54.59 and a 1 year high of $84.85.

SS&C Technologies (NASDAQ:SSNCGet Rating) last issued its earnings results on Thursday, April 28th. The technology company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.04). The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. SS&C Technologies had a net margin of 15.59% and a return on equity of 20.78%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 earnings per share. On average, equities research analysts forecast that SS&C Technologies will post 4.6 EPS for the current year.

SS&C Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Tuesday, May 31st. SS&C Technologies’s dividend payout ratio (DPR) is presently 26.85%.

Institutional Investors Weigh In On SS&C Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of SSNC. Alliancebernstein L.P. raised its position in SS&C Technologies by 27.0% during the 4th quarter. Alliancebernstein L.P. now owns 156,795 shares of the technology company’s stock valued at $12,854,000 after purchasing an additional 33,381 shares during the last quarter. First Hawaiian Bank raised its position in SS&C Technologies by 2.4% during the 1st quarter. First Hawaiian Bank now owns 14,714 shares of the technology company’s stock valued at $1,104,000 after purchasing an additional 347 shares during the last quarter. National Bank of Canada FI bought a new position in SS&C Technologies during the 4th quarter valued at approximately $59,000. Ensign Peak Advisors Inc raised its position in SS&C Technologies by 49.0% during the 4th quarter. Ensign Peak Advisors Inc now owns 152,655 shares of the technology company’s stock valued at $12,514,000 after purchasing an additional 50,205 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in SS&C Technologies by 19.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 705,373 shares of the technology company’s stock valued at $52,918,000 after purchasing an additional 115,604 shares during the last quarter. Institutional investors own 96.54% of the company’s stock.

SS&C Technologies Company Profile

(Get Rating)

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 include 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 comprising claims adjudication, benefit management, care management, and business intelligence solutions.

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