SS&C Technologies (NASDAQ:SSNC) PT Raised to $85.00

SS&C Technologies (NASDAQ:SSNC) had its price target hoisted by equities researchers at Raymond James from $79.00 to $85.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the technology company’s stock. Raymond James’ price target indicates a potential upside of 21.36% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. DA Davidson reaffirmed a “buy” rating and set a $92.00 price target on shares of SS&C Technologies in a report on Thursday, October 10th. Royal Bank of Canada boosted their price target on SS&C Technologies from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of SS&C Technologies in a report on Friday. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, SS&C Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $75.00.

SS&C Technologies Stock Down 6.8 %

Shares of NASDAQ:SSNC opened at $70.04 on Friday. SS&C Technologies has a 1-year low of $46.61 and a 1-year high of $77.02. The company’s fifty day moving average is $74.38 and its two-hundred day moving average is $67.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $17.32 billion, a price-to-earnings ratio of 27.90 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results 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 analysts’ expectations 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 quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.96 earnings per share. Equities analysts anticipate that SS&C Technologies will post 4.66 EPS for the current year.

SS&C Technologies announced that its Board of Directors has authorized a share buyback plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the technology company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the sale, the director now directly owns 9,576 shares in the company, valued at $678,172.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Michael Jay Zamkow sold 19,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $75.97, for a total transaction of $1,443,430.00. Following the completion of the sale, the director now owns 22,576 shares in the company, valued at approximately $1,715,098.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Smita Conjeevaram sold 48,500 shares of SS&C Technologies 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 completion of the transaction, the director now owns 9,576 shares in the company, valued at $678,172.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 609,690 shares of company stock worth $44,821,055. Corporate insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On SS&C Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quent Capital LLC raised its holdings in SS&C Technologies by 76.8% during the 1st quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after buying an additional 172 shares during the period. Tectonic Advisors LLC increased its position in shares of SS&C Technologies by 2.9% in the third quarter. Tectonic Advisors LLC now owns 7,064 shares of the technology company’s stock worth $524,000 after acquiring an additional 198 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in shares of SS&C Technologies by 2.9% during the second quarter. Summit Trail Advisors LLC now owns 7,112 shares of the technology company’s stock valued at $446,000 after acquiring an additional 203 shares during the period. Benjamin Edwards Inc. lifted its position in shares of SS&C Technologies by 43.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 675 shares of the technology company’s stock valued at $42,000 after acquiring an additional 204 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in SS&C Technologies by 0.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 51,497 shares of the technology company’s stock worth $3,822,000 after purchasing an additional 206 shares during the period. Institutional investors and hedge funds own 96.95% of the company’s stock.

About SS&C Technologies

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.