Needham & Company LLC Boosts SS&C Technologies (NASDAQ:SSNC) Price Target to $74.00

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

Several other research firms also recently weighed in on SSNC. StockNews.com raised shares of SS&C Technologies from a buy rating to a strong-buy rating in a research note on Monday, January 29th. Citigroup upped their price target on SS&C Technologies from $70.00 to $71.00 and gave the stock a buy rating in a research note on Thursday, February 15th. Royal Bank of Canada raised their price objective on SS&C Technologies from $65.00 to $72.00 and gave the company an outperform rating in a research note on Wednesday, February 14th. Truist Financial upped their target price on SS&C Technologies from $55.00 to $60.00 and gave the stock a hold rating in a research report on Wednesday, February 14th. Finally, UBS Group increased their target price on SS&C Technologies from $72.00 to $77.00 and gave the stock a buy rating in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $71.22.

SS&C Technologies Stock Down 0.1 %

Shares of SS&C Technologies stock opened at $61.24 on Friday. The stock’s 50-day moving average is $62.78 and its 200 day moving average is $59.19. SS&C Technologies has a one year low of $46.61 and a one year high of $65.86. 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 debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.13. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.39 billion. SS&C Technologies had a return on equity of 17.24% and a net margin of 11.46%. Equities research analysts anticipate that SS&C Technologies will post 4.61 EPS for the current year.

SS&C Technologies Dividend Announcement

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

Institutional Investors Weigh In On SS&C Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSNC. Pzena Investment Management LLC increased its position in shares of SS&C Technologies by 1.7% during the fourth quarter. Pzena Investment Management LLC now owns 14,472,892 shares of the technology company’s stock valued at $884,438,000 after acquiring an additional 243,444 shares during the last quarter. Boston Partners raised its stake in shares of SS&C Technologies by 5.3% during the 3rd quarter. Boston Partners now owns 8,687,812 shares of the technology company’s stock worth $455,894,000 after purchasing an additional 435,377 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of SS&C Technologies by 0.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,892,663 shares of the technology company’s stock worth $414,681,000 after buying an additional 44,764 shares during the last quarter. Burgundy Asset Management Ltd. grew its position in SS&C Technologies by 2.2% during the fourth quarter. Burgundy Asset Management Ltd. now owns 4,716,792 shares of the technology company’s stock valued at $288,243,000 after buying an additional 101,948 shares during the period. Finally, Franklin Resources Inc. increased its holdings in SS&C Technologies by 1.5% during the fourth quarter. Franklin Resources Inc. now owns 3,871,753 shares of the technology company’s stock worth $236,603,000 after buying an additional 56,002 shares during the last quarter. Hedge funds and other 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.