SS&C Technologies (NASDAQ:SSNC) Price Target Cut to $77.00 by Analysts at UBS Group

SS&C Technologies (NASDAQ:SSNC – Get Rating) had its target price cut by UBS Group from $85.00 to $77.00 in a research report sent to investors on Thursday, MarketBeat reports. They currently have a buy rating on the technology company’s stock.

SSNC has been the subject of several other reports. Piper Sandler decreased their price objective on shares of SS&C Technologies from $89.00 to $67.00 and set an overweight rating for the company in a research note on Wednesday, July 6th. StockNews.com downgraded shares of SS&C Technologies from a strong-buy rating to a buy rating in a research note on Friday, April 29th. Morgan Stanley decreased their price objective on shares of SS&C Technologies from $75.00 to $65.00 and set an equal weight rating for the company in a research note on Thursday. Citigroup decreased their target price on shares of SS&C Technologies from $86.00 to $75.00 in a research note on Tuesday, July 26th. Finally, Credit Suisse Group decreased their target price on shares of SS&C Technologies from $85.00 to $78.00 and set an outperform rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $80.00.

SS&C Technologies Price Performance

SS&C Technologies stock opened at $59.17 on Thursday. SS&C Technologies has a 1 year low of $54.59 and a 1 year high of $84.85. The firm has a 50 day moving average price of $60.31 and a 200 day moving average price of $68.80. The company has a market cap of $15.08 billion, a price-to-earnings ratio of 19.86 and a beta of 1.53. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.08 and a current ratio of 1.08.

SS&C Technologies (NASDAQ:SSNC – Get Rating) last released its quarterly earnings data 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). SS&C Technologies had a return on equity of 20.78% and a net margin of 15.59%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. SS&C Technologies’s quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts predict that SS&C Technologies will post 4.6 earnings per share for the current year.

SS&C Technologies Announces Dividend

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

Institutional Trading of SS&C Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its holdings in SS&C Technologies by 27.0% in the fourth quarter. Alliancebernstein L.P. now owns 156,795 shares of the technology company’s stock valued at $12,854,000 after acquiring an additional 33,381 shares in the last quarter. First Hawaiian Bank raised its holdings in shares of SS&C Technologies by 2.4% during the first quarter. First Hawaiian Bank now owns 14,714 shares of the technology company’s stock worth $1,104,000 after purchasing an additional 347 shares during the period. National Bank of Canada FI acquired a new stake in shares of SS&C Technologies during the fourth quarter worth $59,000. Ensign Peak Advisors Inc raised its holdings in shares of SS&C Technologies by 49.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 152,655 shares of the technology company’s stock worth $12,514,000 after purchasing an additional 50,205 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of SS&C Technologies by 19.6% during the first quarter. Robeco Institutional Asset Management B.V. now owns 705,373 shares of the technology company’s stock worth $52,918,000 after purchasing an additional 115,604 shares during the period. 96.54% of the stock is owned by institutional investors and hedge funds.

About SS&C Technologies

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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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