SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $96.00

SS&C Technologies (NASDAQ:SSNC) had its price target raised by Royal Bank of Canada from $86.00 to $96.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 10.74% from the company’s current price.

A number of other analysts also recently issued reports on the company. UBS Group raised their price target on SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $70.00 to $94.00 in a report on Monday. DA Davidson reissued a “buy” rating and issued a $92.00 price objective on shares of SS&C Technologies in a research note on Thursday, October 10th. Needham & Company LLC increased their price target on SS&C Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Friday. Finally, StockNews.com downgraded SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, SS&C Technologies presently has a consensus rating of “Buy” and a consensus price target of $88.25.

SS&C Technologies Price Performance

SS&C Technologies stock traded up $4.89 during mid-day trading on Friday, reaching $86.69. 3,167,386 shares of the company’s stock traded hands, compared to its average volume of 1,338,927. The stock has a 50 day moving average of $77.51 and a two-hundred day moving average of $74.84. SS&C Technologies has a 12-month low of $59.53 and a 12-month high of $87.50. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. The company has a market cap of $21.47 billion, a price-to-earnings ratio of 31.06 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Thursday, February 6th. The technology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.32 by $0.09. SS&C Technologies had a return on equity of 17.33% and a net margin of 12.26%. Equities analysts forecast that SS&C Technologies will post 4.62 earnings per share for the current year.

Insider Activity

In related news, CEO William C. Stone sold 247,300 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $76.61, for a total transaction of $18,945,653.00. Following the completion of the transaction, the chief executive officer now owns 31,837,926 shares in the company, valued at $2,439,103,510.86. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the completion of the transaction, the senior vice president now directly owns 6,412 shares in the company, valued at $494,172.84. This represents a 91.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 449,000 shares of company stock worth $34,461,478. 15.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SS&C Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SSNC. Kestra Investment Management LLC purchased a new position in shares of SS&C Technologies in the fourth quarter worth $39,000. Parkside Financial Bank & Trust raised its stake in SS&C Technologies by 76.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $40,000 after acquiring an additional 229 shares during the last quarter. Financial Perspectives Inc acquired a new stake in SS&C Technologies during the 4th quarter worth about $51,000. Rialto Wealth Management LLC purchased a new stake in SS&C Technologies during the 4th quarter valued at about $64,000. Finally, CENTRAL TRUST Co acquired a new position in shares of SS&C Technologies in the fourth quarter valued at about $65,000. 96.95% of the stock is owned by hedge funds and other institutional investors.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.