SS&C Technologies’ (SSNC) Buy Rating Reaffirmed at DA Davidson

SS&C Technologies (NASDAQ:SSNC)‘s stock had its “buy” rating restated by DA Davidson in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $78.00 price objective on the technology company’s stock. DA Davidson’s price objective would suggest a potential upside of 29.48% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Truist Financial lifted their target price on shares of SS&C Technologies from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Royal Bank of Canada boosted their price objective on SS&C Technologies from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. UBS Group increased their target price on SS&C Technologies from $72.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Needham & Company LLC boosted their price target on SS&C Technologies from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, StockNews.com raised SS&C Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday, January 29th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.78.

SS&C Technologies Stock Performance

SSNC opened at $60.24 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The stock has a market cap of $14.89 billion, a price-to-earnings ratio of 25.31 and a beta of 1.43. SS&C Technologies has a 12-month low of $46.61 and a 12-month high of $65.86. The business has a 50 day moving average of $62.89 and a 200-day moving average of $58.75.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.13. SS&C Technologies had a return on equity of 16.74% and a net margin of 11.03%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.39 billion. On average, equities research analysts expect that SS&C Technologies will post 4.61 earnings per share for the current year.

Hedge Funds Weigh In On SS&C Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SSNC. American Century Companies Inc. lifted its stake in SS&C Technologies by 18.1% in the 1st quarter. American Century Companies Inc. now owns 4,476 shares of the technology company’s stock valued at $335,000 after purchasing an additional 685 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of SS&C Technologies by 19.1% in the 1st quarter. Private Advisor Group LLC now owns 3,591 shares of the technology company’s stock valued at $270,000 after acquiring an additional 577 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of SS&C Technologies during the 1st quarter valued at $336,000. Rhumbline Advisers grew its position in SS&C Technologies by 13.0% during the 1st quarter. Rhumbline Advisers now owns 210,330 shares of the technology company’s stock worth $15,779,000 after acquiring an additional 24,230 shares during the last quarter. Finally, Yousif Capital Management LLC increased its holdings in SS&C Technologies by 10.6% in the 1st quarter. Yousif Capital Management LLC now owns 4,780 shares of the technology company’s stock worth $359,000 after purchasing an additional 460 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, 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.