Needham & Company LLC Lowers SS&C Technologies (NASDAQ:SSNC) to Buy

Needham & Company LLC lowered shares of SS&C Technologies (NASDAQ:SSNC) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning, Benzinga reports. Needham & Company LLC currently has $78.00 price objective on the technology company’s stock, up from their prior price objective of $65.00.

A number of other research firms also recently issued reports on SSNC. BidaskClub downgraded SS&C Technologies from a buy rating to a hold rating in a research report on Friday, February 7th. Deutsche Bank raised their target price on SS&C Technologies from $64.00 to $75.00 and gave the stock a buy rating in a research report on Friday, December 13th. Raymond James lifted their price target on SS&C Technologies from $65.00 to $76.00 and gave the company a strong-buy rating in a research report on Thursday. They noted that the move was a valuation call. Royal Bank of Canada set a $70.00 price target on SS&C Technologies and gave the company a buy rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. set a $69.00 price target on SS&C Technologies and gave the company a buy rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $70.71.

NASDAQ:SSNC traded up $0.68 during trading hours on Thursday, reaching $66.26. The stock had a trading volume of 1,440,900 shares, compared to its average volume of 1,280,676. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50 day simple moving average of $63.06 and a 200 day simple moving average of $55.25. SS&C Technologies has a 12-month low of $42.51 and a 12-month high of $67.73. The stock has a market cap of $16.70 billion, a P/E ratio of 49.08, a price-to-earnings-growth ratio of 2.37 and a beta of 1.29.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Wednesday, February 12th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.11. SS&C Technologies had a return on equity of 19.25% and a net margin of 7.83%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts expect that SS&C Technologies will post 3.5 earnings per share for the current fiscal year.

In other news, CEO William C. Stone sold 255,000 shares of SS&C Technologies stock in a transaction on Friday, December 13th. The stock was sold at an average price of $58.84, for a total value of $15,004,200.00. Following the completion of the transaction, the chief executive officer now directly owns 31,931,624 shares in the company, valued at $1,878,856,756.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders bought 72 shares of company stock valued at $4,373. 14.50% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. MAI Capital Management boosted its stake in SS&C Technologies by 1.0% during the third quarter. MAI Capital Management now owns 25,965 shares of the technology company’s stock valued at $1,339,000 after buying an additional 256 shares during the period. First Republic Investment Management Inc. boosted its stake in SS&C Technologies by 3.7% during the fourth quarter. First Republic Investment Management Inc. now owns 7,148 shares of the technology company’s stock valued at $439,000 after buying an additional 256 shares during the period. Nicolet Bankshares Inc. boosted its stake in SS&C Technologies by 6.2% during the third quarter. Nicolet Bankshares Inc. now owns 5,500 shares of the technology company’s stock valued at $284,000 after buying an additional 320 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in SS&C Technologies by 119.2% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 629 shares of the technology company’s stock valued at $39,000 after buying an additional 342 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in SS&C Technologies by 8.3% during the third quarter. Park Avenue Securities LLC now owns 4,617 shares of the technology company’s stock valued at $238,000 after buying an additional 354 shares during the period. 83.45% of the stock is owned by institutional investors.

About SS&C Technologies

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.

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

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