SS&C Technologies (NASDAQ:SSNC) Given New $98.00 Price Target at DA Davidson

SS&C Technologies (NASDAQ:SSNC - Free Report) had its target price increased by DA Davidson from $94.00 to $98.00 in a report issued on Monday morning,Benzinga reports. DA Davidson currently has a buy rating on the technology company's stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $86.00 price target (down from $90.00) on shares of SS&C Technologies in a research report on Friday, April 25th. Wall Street Zen raised shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Raymond James Financial lowered their price target on shares of SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating on the stock in a research report on Friday, April 25th. Finally, Needham & Company LLC lowered their price target on shares of SS&C Technologies from $105.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $92.43.

SS&C Technologies Stock Performance

Shares of NASDAQ SSNC traded up $1.06 during mid-day trading on Monday, reaching $83.56. 915,329 shares of the company were exchanged, compared to its average volume of 1,330,578. The company's 50-day simple moving average is $80.56 and its 200-day simple moving average is $80.57. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $20.61 billion, a P/E ratio of 25.95 and a beta of 1.23. SS&C Technologies has a twelve month low of $65.00 and a twelve month high of $89.73.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. SS&C Technologies had a net margin of 13.69% and a return on equity of 18.68%. SS&C Technologies's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 EPS. As a group, research analysts predict that SS&C Technologies will post 5.35 earnings per share for the current year.

SS&C Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Monday, June 2nd. SS&C Technologies's dividend payout ratio is currently 31.06%.

Insider Activity

In other SS&C Technologies news, Director Michael Jay Zamkow sold 12,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total value of $999,000.00. Following the transaction, the director directly owned 12,476 shares of the company's stock, valued at $997,081.92. This trade represents a 50.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan E. Michael bought 2,700 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was purchased at an average cost of $75.53 per share, for a total transaction of $203,931.00. Following the completion of the acquisition, the director owned 72,776 shares in the company, valued at approximately $5,496,771.28. This trade represents a 3.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On SS&C Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CHICAGO TRUST Co NA grew its holdings in shares of SS&C Technologies by 110.7% during the 2nd quarter. CHICAGO TRUST Co NA now owns 15,081 shares of the technology company's stock valued at $1,249,000 after purchasing an additional 7,923 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of SS&C Technologies by 54.0% during the 2nd quarter. GAMMA Investing LLC now owns 5,080 shares of the technology company's stock valued at $421,000 after purchasing an additional 1,782 shares during the last quarter. Park Avenue Securities LLC grew its holdings in shares of SS&C Technologies by 15.9% during the 2nd quarter. Park Avenue Securities LLC now owns 51,613 shares of the technology company's stock valued at $4,274,000 after purchasing an additional 7,065 shares during the last quarter. BTC Capital Management Inc. grew its holdings in shares of SS&C Technologies by 16.1% during the 2nd quarter. BTC Capital Management Inc. now owns 46,490 shares of the technology company's stock valued at $3,799,000 after purchasing an additional 6,432 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in shares of SS&C Technologies by 15.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 817,539 shares of the technology company's stock valued at $67,692,000 after purchasing an additional 110,434 shares during the last quarter. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.