Needham & Company LLC reissued their strong-buy rating on shares of SS&C Technologies (NASDAQ:SSNC) in a report released on Wednesday, Briefing.com Automated Import reports. They currently have a $77.00 price target on the technology company’s stock, up from their prior price target of $75.00.
Several other equities analysts have also recently issued reports on the stock. Buckingham Research started coverage on shares of SS&C Technologies in a research note on Thursday, January 24th. They issued a buy rating and a $65.00 price objective on the stock. Jefferies Financial Group cut shares of SS&C Technologies from a buy rating to a hold rating and boosted their price objective for the company from $58.00 to $64.00 in a research note on Wednesday. BidaskClub raised shares of SS&C Technologies from a buy rating to a strong-buy rating in a research note on Wednesday, February 20th. JPMorgan Chase & Co. set a $70.00 price objective on shares of SS&C Technologies and gave the company a buy rating in a research note on Friday, February 15th. Finally, Royal Bank of Canada upped their price target on shares of SS&C Technologies to $70.00 and gave the stock an outperform rating in a research note on Friday, February 15th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $70.00.
SSNC traded up $0.51 during trading on Wednesday, hitting $60.35. The stock had a trading volume of 142,380 shares, compared to its average volume of 1,045,618. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $17.06 billion, a P/E ratio of 23.03, a P/E/G ratio of 1.56 and a beta of 1.22. SS&C Technologies has a twelve month low of $40.96 and a twelve month high of $67.73.
SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.15 billion. SS&C Technologies had a net margin of 3.20% and a return on equity of 17.59%. SS&C Technologies’s revenue was up 164.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. Sell-side analysts predict that SS&C Technologies will post 3.61 EPS for the current year.
In other news, CFO Patrick J. Pedonti sold 157,500 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $59.41, for a total transaction of $9,357,075.00. Following the transaction, the chief financial officer now directly owns 57,500 shares of the company’s stock, valued at approximately $3,416,075. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 14.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Prime Capital Investment Advisors LLC acquired a new stake in SS&C Technologies in the 4th quarter valued at about $26,000. Versant Capital Management Inc grew its stake in SS&C Technologies by 202.7% in the 1st quarter. Versant Capital Management Inc now owns 448 shares of the technology company’s stock valued at $28,000 after acquiring an additional 300 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in SS&C Technologies in the 4th quarter valued at about $36,000. CWM LLC grew its stake in SS&C Technologies by 115.6% in the 4th quarter. CWM LLC now owns 873 shares of the technology company’s stock valued at $39,000 after acquiring an additional 468 shares during the last quarter. Finally, Quad Cities Investment Group LLC acquired a new stake in SS&C Technologies in the 1st quarter valued at about $48,000. 83.99% of the stock is currently owned by hedge funds and other institutional investors.
About SS&C Technologies
SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.
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