SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $92.00

SS&C Technologies (NASDAQ:SSNC) had its target price hoisted by analysts at DA Davidson from $88.00 to $92.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. DA Davidson’s price target indicates a potential upside of 21.12% from the stock’s previous close.

Several other research firms have also weighed in on SSNC. Royal Bank of Canada lifted their price objective on shares of SS&C Technologies from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday. Needham & Company LLC upped their price target on SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.75.

SS&C Technologies Trading Down 0.7 %

NASDAQ SSNC traded down $0.50 during mid-day trading on Friday, reaching $75.96. 111,340 shares of the stock were exchanged, compared to its average volume of 984,597. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market cap of $18.64 billion, a P/E ratio of 30.26 and a beta of 1.38. The stock has a 50 day simple moving average of $71.86 and a 200-day simple moving average of $65.63. SS&C Technologies has a one year low of $46.61 and a one year high of $76.94.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 EPS. On average, analysts anticipate that SS&C Technologies will post 4.66 EPS for the current year.

Insiders Place Their Bets

In related news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the transaction, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SS&C Technologies news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $70.82, for a total value of $3,434,770.00. Following the transaction, the director now owns 9,576 shares of the company’s stock, valued at $678,172.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $75.38, for a total value of $9,799,400.00. Following the sale, the director now directly owns 333,576 shares of the company’s stock, valued at $25,144,958.88. The disclosure for this sale can be found here. Insiders have sold 590,690 shares of company stock valued at $43,377,625 in the last three months. 15.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SSNC. EverSource Wealth Advisors LLC grew its stake in shares of SS&C Technologies by 14.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company’s stock worth $79,000 after acquiring an additional 166 shares during the period. Quent Capital LLC boosted its position in SS&C Technologies by 76.8% during the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after purchasing an additional 172 shares during the period. Scotia Capital Inc. increased its stake in shares of SS&C Technologies by 0.3% in the fourth quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company’s stock worth $3,369,000 after purchasing an additional 191 shares in the last quarter. Summit Trail Advisors LLC raised its position in shares of SS&C Technologies by 2.9% in the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock valued at $446,000 after purchasing an additional 203 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in shares of SS&C Technologies by 43.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after buying an additional 204 shares in the last quarter. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

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.