SS&C Technologies (NASDAQ:SSNC) Price Target Lowered to $94.00 at DA Davidson

SS&C Technologies (NASDAQ:SSNC) had its target price lowered by stock analysts at DA Davidson from $100.00 to $94.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price target would indicate a potential upside of 29.46% from the stock’s previous close.

Several other research analysts have also recently commented on SSNC. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday. Raymond James cut their target price on SS&C Technologies from $95.00 to $90.00 and set a “strong-buy” rating on the stock in a report on Friday. Needham & Company LLC dropped their price target on shares of SS&C Technologies from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday. Royal Bank of Canada increased their price target on shares of SS&C Technologies from $86.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $86.00 target price (down from $90.00) on shares of SS&C Technologies in a research report on Friday. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $91.86.

SS&C Technologies Price Performance

SSNC stock traded down $0.08 during trading on Monday, hitting $72.61. The company had a trading volume of 804,565 shares, compared to its average volume of 1,265,377. SS&C Technologies has a fifty-two week low of $60.01 and a fifty-two week high of $89.73. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $17.89 billion, a price-to-earnings ratio of 24.18 and a beta of 1.31. The business has a 50 day moving average of $81.25 and a 200 day moving average of $78.60.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.03. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.50 billion. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 earnings per share. As a group, research analysts predict that SS&C Technologies will post 5.35 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Michael Jay Zamkow sold 23,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the completion of the transaction, the director now owns 23,200 shares in the company, valued at approximately $2,050,648. This trade represents a 49.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jason Douglas White sold 71,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the transaction, the senior vice president now directly owns 6,412 shares in the company, valued at approximately $570,411.52. The trade was a 91.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

A number of large investors have recently made changes to their positions in the company. Atwood & Palmer Inc. increased its position in SS&C Technologies by 125.8% during the 1st quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company’s stock valued at $25,000 after purchasing an additional 166 shares during the period. Kestra Investment Management LLC purchased a new position in SS&C Technologies in the 4th quarter worth $39,000. Parkside Financial Bank & Trust grew its holdings in SS&C Technologies by 76.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $40,000 after acquiring an additional 229 shares during the last quarter. Colonial Trust Co SC grew its holdings in SS&C Technologies by 239.3% in the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company’s stock worth $42,000 after purchasing an additional 390 shares during the period. Finally, True Wealth Design LLC increased its position in SS&C Technologies by 163.6% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the technology company’s stock valued at $42,000 after buying an additional 342 shares in the last quarter. Institutional investors own 96.95% of the company’s stock.

SS&C Technologies Company Profile

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.