JPMorgan Chase & Co. Raises SS&C Technologies (NASDAQ:SSNC) Price Target to $78.00

SS&C Technologies (NASDAQ:SSNC) had its target price increased by JPMorgan Chase & Co. from $73.00 to $78.00 in a research report released on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. Rosenblatt Securities reiterated a buy rating and set a $64.00 target price on shares of SS&C Technologies in a report on Monday, July 27th. UBS Group reduced their target price on shares of SS&C Technologies from $72.00 to $66.00 and set a buy rating on the stock in a research report on Friday, May 1st. Jefferies Financial Group lowered their price target on shares of SS&C Technologies from $61.00 to $59.00 and set a hold rating for the company in a research report on Monday, May 4th. Royal Bank of Canada restated a buy rating and issued a $62.00 price objective on shares of SS&C Technologies in a report on Thursday, April 23rd. Finally, Piper Sandler raised their target price on shares of SS&C Technologies from $63.00 to $65.00 and gave the company an overweight rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $66.75.

NASDAQ SSNC opened at $57.50 on Wednesday. SS&C Technologies has a 1 year low of $29.51 and a 1 year high of $66.74. The stock has a market capitalization of $14.73 billion, a PE ratio of 30.10 and a beta of 1.49. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50-day moving average is $56.68 and its 200 day moving average is $55.55.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Tuesday, July 28th. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.14. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. SS&C Technologies had a return on equity of 20.41% and a net margin of 10.85%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. As a group, equities research analysts anticipate that SS&C Technologies will post 3.66 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of SSNC. Jacobi Capital Management LLC lifted its holdings in SS&C Technologies by 188.9% in the 1st quarter. Jacobi Capital Management LLC now owns 650 shares of the technology company’s stock worth $28,000 after purchasing an additional 425 shares in the last quarter. Ameritas Investment Company LLC purchased a new position in shares of SS&C Technologies in the first quarter worth $35,000. Bellevue Asset Management LLC boosted its position in shares of SS&C Technologies by 65.1% during the first quarter. Bellevue Asset Management LLC now owns 720 shares of the technology company’s stock worth $37,000 after acquiring an additional 284 shares during the last quarter. CWM Advisors LLC purchased a new position in SS&C Technologies during the first quarter valued at $45,000. Finally, Signaturefd LLC increased its holdings in SS&C Technologies by 308.2% in the 2nd quarter. Signaturefd LLC now owns 1,000 shares of the technology company’s stock valued at $56,000 after acquiring an additional 755 shares during the last quarter. Institutional investors and hedge funds own 81.20% of the company’s stock.

SS&C Technologies Company Profile

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: What is the role of the G-20?

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.