SS&C Technologies (NASDAQ:SSNC) had its price objective increased by equities research analysts at DA Davidson to $75.00 in a report released on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. DA Davidson’s target price would suggest a potential upside of 15.26% from the company’s current price.
Several other equities research analysts also recently commented on SSNC. BidaskClub upgraded shares of SS&C Technologies from a “sell” rating to a “hold” rating in a research report on Friday, December 28th. Raymond James reduced their price target on shares of SS&C Technologies from $68.00 to $67.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 2nd. Zacks Investment Research downgraded shares of SS&C Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. UBS Group reduced their price target on shares of SS&C Technologies from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, January 8th. Finally, Buckingham Research initiated coverage on shares of SS&C Technologies in a research report on Thursday, January 24th. They issued a “buy” rating and a $65.00 price target for the company. One analyst has rated the stock with a hold rating, twelve have given a buy rating and four have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $68.60.
Shares of NASDAQ:SSNC opened at $65.07 on Wednesday. The company has a market cap of $16.47 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 1.51 and a beta of 1.22. SS&C Technologies has a 1-year low of $40.96 and a 1-year high of $66.30. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.78.
SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, February 14th. The technology company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.10. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. SS&C Technologies had a net margin of 3.01% and a return on equity of 16.27%. The firm’s revenue for the quarter was up 157.8% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. As a group, sell-side analysts anticipate that SS&C Technologies will post 3.6 EPS for the current year.
In other news, CFO Patrick J. Pedonti sold 157,500 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $59.41, for a total transaction of $9,357,075.00. Following the transaction, the chief financial officer now owns 57,500 shares in the company, valued at approximately $3,416,075. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.50% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in SSNC. Norges Bank bought a new position in shares of SS&C Technologies during the 4th quarter valued at $108,590,000. Frontier Capital Management Co. LLC raised its holdings in shares of SS&C Technologies by 37.1% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,847,958 shares of the technology company’s stock valued at $173,581,000 after purchasing an additional 1,042,182 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of SS&C Technologies by 54.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,858,968 shares of the technology company’s stock valued at $162,477,000 after purchasing an additional 1,010,118 shares in the last quarter. Cantillon Capital Management LLC raised its holdings in shares of SS&C Technologies by 37.1% during the 4th quarter. Cantillon Capital Management LLC now owns 3,561,949 shares of the technology company’s stock valued at $160,679,000 after purchasing an additional 963,878 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in SS&C Technologies by 259.7% in the 4th quarter. Nordea Investment Management AB now owns 782,368 shares of the technology company’s stock valued at $35,293,000 after buying an additional 564,851 shares during the last quarter. Institutional investors and hedge funds own 83.99% of the company’s stock.
SS&C Technologies Company Profile
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.
Read More: Why Invest in Dividend Achievers?
Receive News & Ratings for SS&C Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SS&C Technologies and related companies with MarketBeat.com's FREE daily email newsletter.