SS&C Technologies (NASDAQ:SSNC) Stock Price Expected to Rise, DA Davidson Analyst Says

SS&C Technologies (NASDAQ:SSNC) had its price objective raised by equities researchers at DA Davidson from $92.00 to $102.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. DA Davidson’s price target points to a potential upside of 18.37% from the stock’s previous close.

A number of other research firms have also recently issued reports on SSNC. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $70.00 to $94.00 in a research note on Monday, February 3rd. Needham & Company LLC boosted their price objective on SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank of Canada raised their target price on SS&C Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday. Raymond James upped their price target on shares of SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a research report on Friday. Finally, UBS Group raised their price objective on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $89.50.

SS&C Technologies Price Performance

SSNC stock traded down $0.54 during trading on Monday, hitting $86.17. The company had a trading volume of 416,358 shares, compared to its average volume of 1,339,494. The company has a fifty day moving average price of $77.69 and a two-hundred day moving average price of $75.08. SS&C Technologies has a fifty-two week low of $59.53 and a fifty-two week high of $87.50. The company has a market cap of $21.34 billion, a P/E ratio of 28.71 and a beta of 1.38. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC) last issued its earnings results on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.32 by $0.09. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. Equities research analysts expect that SS&C Technologies will post 5.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Jason Douglas White sold 69,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the sale, the senior vice president now directly owns 6,412 shares in the company, valued at $494,172.84. This trade represents a 91.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William C. Stone sold 247,300 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the completion of the transaction, the chief executive officer now directly owns 31,837,926 shares of the company’s stock, valued at approximately $2,439,103,510.86. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 449,000 shares of company stock worth $34,461,478. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SSNC. Janus Henderson Group PLC grew its stake in shares of SS&C Technologies by 5.4% during the 3rd quarter. Janus Henderson Group PLC now owns 16,059,475 shares of the technology company’s stock worth $1,191,774,000 after acquiring an additional 817,501 shares in the last quarter. KBC Group NV grew its position in SS&C Technologies by 403.0% in the fourth quarter. KBC Group NV now owns 839,536 shares of the technology company’s stock valued at $63,620,000 after purchasing an additional 672,641 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in SS&C Technologies in the 4th quarter valued at $49,179,000. Point72 Asset Management L.P. lifted its position in SS&C Technologies by 250.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 593,700 shares of the technology company’s stock worth $44,058,000 after buying an additional 424,487 shares in the last quarter. Finally, River Road Asset Management LLC grew its holdings in shares of SS&C Technologies by 278.5% in the 4th quarter. River Road Asset Management LLC now owns 466,320 shares of the technology company’s stock valued at $35,338,000 after acquiring an additional 343,105 shares in the last quarter. 96.95% of the stock is currently owned by institutional investors.

About SS&C Technologies

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.