SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $81.00 at Needham & Company LLC

SS&C Technologies (NASDAQ:SSNC) had its target price increased by stock analysts at Needham & Company LLC from $74.00 to $81.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 19.08% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. DA Davidson lifted their target price on SS&C Technologies from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Jefferies Financial Group boosted their price objective on shares of SS&C Technologies from $54.00 to $61.00 and gave the company a “hold” rating in a report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, SS&C Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

SS&C Technologies Trading Up 1.0 %

Shares of SSNC stock opened at $68.02 on Friday. SS&C Technologies has a twelve month low of $46.61 and a twelve month high of $69.49. The stock has a market cap of $16.82 billion, a price-to-earnings ratio of 27.10 and a beta of 1.38. The company’s 50-day moving average price is $63.02 and its 200-day moving average price is $62.48. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.10%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. As a group, equities analysts predict that SS&C Technologies will post 4.62 earnings per share for the current year.

Insider Buying and Selling

In other SS&C Technologies news, Director Michael Jay Zamkow sold 5,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $63.14, for a total value of $315,700.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at $2,399,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 32,500 shares of company stock valued at $2,027,750 in the last ninety days. Company insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On SS&C Technologies

Hedge funds have recently bought and sold shares of the stock. Quent Capital LLC increased its stake in shares of SS&C Technologies by 76.8% during the first quarter. Quent Capital LLC now owns 396 shares of the technology company’s stock worth $25,000 after buying an additional 172 shares during the period. ST Germain D J Co. Inc. acquired a new position in SS&C Technologies during the 1st quarter worth approximately $27,000. Versant Capital Management Inc increased its position in shares of SS&C Technologies by 6,300.0% in the 2nd quarter. Versant Capital Management Inc now owns 704 shares of the technology company’s stock valued at $44,000 after purchasing an additional 693 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of SS&C Technologies in the 2nd quarter valued at $47,000. Finally, Denali Advisors LLC purchased a new stake in shares of SS&C Technologies during the 1st quarter worth $51,000. Institutional investors and hedge funds 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.