Credit Suisse Group Boosts SS&C Technologies (NASDAQ:SSNC) Price Target to $65.00

SS&C Technologies (NASDAQ:SSNC) had its price target upped by Credit Suisse Group from $60.00 to $65.00 in a research note released on Wednesday, The Fly reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other equities research analysts have also recently weighed in on the company. Rosenblatt Securities reissued a buy rating and set a $64.00 price objective on shares of SS&C Technologies in a research note on Monday, July 27th. BTIG Research reiterated a buy rating and issued a $72.00 target price on shares of SS&C Technologies in a research note on Thursday, April 30th. BidaskClub raised shares of SS&C Technologies from a sell rating to a hold rating in a report on Tuesday, June 23rd. UBS Group reduced their target price on SS&C Technologies from $72.00 to $66.00 and set a buy rating for the company in a research note on Friday, May 1st. Finally, Needham & Company LLC boosted their price target on SS&C Technologies from $65.00 to $68.00 and gave the company a buy rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $66.75.

Shares of NASDAQ SSNC opened at $57.50 on Wednesday. The company has a 50 day simple moving average of $56.68 and a two-hundred day simple moving average of $55.55. SS&C Technologies has a fifty-two week low of $29.51 and a fifty-two week high of $66.74. The company has a market capitalization of $14.73 billion, a price-to-earnings ratio of 30.10 and a beta of 1.49. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.06 and a current ratio of 1.06.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Tuesday, July 28th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.14. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. SS&C Technologies had a return on equity of 20.41% and a net margin of 10.85%. SS&C Technologies’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. On average, analysts forecast that SS&C Technologies will post 3.66 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Jacobi Capital Management LLC lifted its stake in shares of SS&C Technologies by 188.9% in the first quarter. Jacobi Capital Management LLC now owns 650 shares of the technology company’s stock worth $28,000 after buying an additional 425 shares in the last quarter. Bellevue Asset Management LLC grew its stake in SS&C Technologies by 65.1% during the 1st quarter. Bellevue Asset Management LLC now owns 720 shares of the technology company’s stock valued at $37,000 after acquiring an additional 284 shares in the last quarter. Ameritas Investment Company LLC acquired a new stake in SS&C Technologies in the 1st quarter valued at about $35,000. Signaturefd LLC lifted its stake in SS&C Technologies by 308.2% in the 2nd quarter. Signaturefd LLC now owns 1,000 shares of the technology company’s stock worth $56,000 after purchasing an additional 755 shares in the last quarter. Finally, CWM Advisors LLC acquired a new position in shares of SS&C Technologies during the 1st quarter worth approximately $45,000. 81.20% of the stock is owned by institutional investors and hedge funds.

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.

Featured Article: Call Option

The Fly

Analyst Recommendations for SS&C Technologies (NASDAQ:SSNC)

Receive News & Ratings for SS&C Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SS&C Technologies and related companies with MarketBeat.com's FREE daily email newsletter.