Needham & Company LLC Reiterates “Buy” Rating for SS&C Technologies (NASDAQ:SSNC)

Needham & Company LLC reiterated their buy rating on shares of SS&C Technologies (NASDAQ:SSNC) in a research note published on Friday, January 12th, MarketBeat.com reports. The firm currently has a $60.00 price objective on the technology company’s stock, up from their prior price objective of $44.00.

Other equities research analysts also recently issued reports about the company. UBS Group reiterated a buy rating and issued a $49.00 price target on shares of SS&C Technologies in a report on Thursday, December 14th. DA Davidson restated a buy rating and set a $44.00 price objective on shares of SS&C Technologies in a report on Thursday, October 26th. Jefferies Group restated a buy rating on shares of SS&C Technologies in a report on Tuesday, October 3rd. Zacks Investment Research upgraded SS&C Technologies from a hold rating to a buy rating and set a $46.00 price objective on the stock in a report on Saturday, January 6th. Finally, BidaskClub upgraded SS&C Technologies from a sell rating to a hold rating in a report on Saturday, January 6th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $49.55.

Shares of SS&C Technologies (SSNC) traded down $0.64 during mid-day trading on Friday, reaching $48.94. The company’s stock had a trading volume of 663,723 shares, compared to its average volume of 2,070,000. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.96 and a current ratio of 0.96. SS&C Technologies has a fifty-two week low of $32.13 and a fifty-two week high of $51.39. The stock has a market capitalization of $9,940.00, a P/E ratio of 46.61, a PEG ratio of 1.57 and a beta of 1.32.

In other news, CFO Patrick J. Pedonti sold 20,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $40.39, for a total value of $807,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.60% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SSNC. Schwab Charles Investment Management Inc. lifted its position in SS&C Technologies by 7.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 590,715 shares of the technology company’s stock worth $22,690,000 after acquiring an additional 42,934 shares during the period. SG Americas Securities LLC lifted its position in SS&C Technologies by 46.2% during the 2nd quarter. SG Americas Securities LLC now owns 4,902 shares of the technology company’s stock worth $188,000 after acquiring an additional 1,550 shares during the period. Comerica Bank lifted its position in SS&C Technologies by 1.3% during the 2nd quarter. Comerica Bank now owns 8,151 shares of the technology company’s stock worth $323,000 after acquiring an additional 108 shares during the period. Prudential Financial Inc. lifted its position in SS&C Technologies by 353.1% during the 2nd quarter. Prudential Financial Inc. now owns 166,564 shares of the technology company’s stock worth $6,398,000 after acquiring an additional 129,800 shares during the period. Finally, Neuberger Berman Group LLC lifted its position in SS&C Technologies by 9.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 9,345 shares of the technology company’s stock worth $359,000 after acquiring an additional 801 shares during the period. 86.69% of the stock is owned by institutional investors.

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SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc is a holding company. The Company is a provider of software products and software-enabled services that allow financial services providers to automate complex business processes and manage their information processing requirements. The Company’s portfolio of software products and software-enabled services allows its clients to automate and integrate front-office functions, such as trading and modeling, middle-office functions, such as portfolio management and reporting, and back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing.

Analyst Recommendations for SS&C Technologies (NASDAQ:SSNC)

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