SS&C Technologies’ (SSNC) “Buy” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their buy rating on shares of SS&C Technologies (NASDAQ:SSNC) in a research report report published on Thursday, AnalystRatings.com reports. The brokerage currently has a $68.00 price target on the technology company’s stock.

A number of other analysts have also recently weighed in on SSNC. Morgan Stanley dropped their price objective on shares of SS&C Technologies from $63.00 to $57.00 and set an equal weight rating on the stock in a report on Friday, May 1st. BidaskClub raised SS&C Technologies from a sell rating to a hold rating in a research note on Tuesday, June 23rd. Citigroup increased their price target on SS&C Technologies from $67.00 to $68.00 and gave the stock a buy rating in a research note on Thursday. BTIG Research reissued a buy rating and set a $72.00 price target on shares of SS&C Technologies in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of SS&C Technologies from $73.00 to $78.00 and gave the stock an overweight rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $66.75.

Shares of NASDAQ:SSNC opened at $57.50 on Thursday. The company has a market cap of $14.73 billion, a PE ratio of 30.10 and a beta of 1.49. SS&C Technologies has a fifty-two week low of $29.51 and a fifty-two week high of $66.74. The firm has a 50-day simple moving average of $56.68 and a 200 day simple moving average of $55.55. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.44.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in SS&C Technologies in the 4th quarter worth about $130,712,000. Evercore Wealth Management LLC acquired a new position in SS&C Technologies in the 1st quarter worth approximately $39,588,000. Fort Washington Investment Advisors Inc. OH grew its position in SS&C Technologies by 299.8% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,148,683 shares of the technology company’s stock worth $64,878,000 after purchasing an additional 861,397 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of SS&C Technologies by 49.8% in the first quarter. Nuveen Asset Management LLC now owns 1,871,479 shares of the technology company’s stock valued at $82,008,000 after purchasing an additional 622,170 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of SS&C Technologies by 4.9% in the first quarter. BlackRock Inc. now owns 12,634,884 shares of the technology company’s stock worth $553,659,000 after buying an additional 593,770 shares during the period. 81.20% of the stock is owned by institutional investors and hedge funds.

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.

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

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