Jefferies Financial Group Boosts SS&C Technologies (NASDAQ:SSNC) Price Target to $61.00

SS&C Technologies (NASDAQ:SSNC) had its price target raised by analysts at Jefferies Financial Group from $54.00 to $61.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price target would suggest a potential downside of 1.31% from the company’s previous close.

A number of other analysts have also weighed in on SSNC. Needham & Company LLC raised their price objective on shares of SS&C Technologies from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Friday. UBS Group raised their price target on shares of SS&C Technologies from $72.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Truist Financial raised their price target on shares of SS&C Technologies from $55.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. TheStreet raised shares of SS&C Technologies from a “c+” rating to a “b” rating in a report on Friday, February 23rd. Finally, Citigroup raised their price objective on shares of SS&C Technologies from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.20.

SS&C Technologies Trading Up 0.9 %

Shares of NASDAQ:SSNC traded up $0.57 on Monday, hitting $61.81. The company had a trading volume of 173,906 shares, compared to its average volume of 958,477. The firm’s 50-day simple moving average is $62.78 and its two-hundred day simple moving average is $59.24. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $65.86. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $15.28 billion, a price-to-earnings ratio of 24.63 and a beta of 1.43.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.13. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. SS&C Technologies had a net margin of 11.46% and a return on equity of 17.24%. Equities analysts anticipate that SS&C Technologies will post 4.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SS&C Technologies

Several institutional investors and hedge funds have recently modified their holdings of SSNC. Norges Bank bought a new stake in shares of SS&C Technologies during the fourth quarter valued at approximately $168,860,000. Junto Capital Management LP raised its position in shares of SS&C Technologies by 183.0% during the fourth quarter. Junto Capital Management LP now owns 1,471,190 shares of the technology company’s stock valued at $89,904,000 after buying an additional 951,269 shares during the last quarter. Boston Partners raised its position in shares of SS&C Technologies by 5.3% during the third quarter. Boston Partners now owns 8,687,812 shares of the technology company’s stock valued at $455,894,000 after buying an additional 435,377 shares during the last quarter. KBC Group NV raised its position in shares of SS&C Technologies by 243.1% during the fourth quarter. KBC Group NV now owns 507,749 shares of the technology company’s stock valued at $31,029,000 after buying an additional 359,741 shares during the last quarter. Finally, Nomura Holdings Inc. raised its position in shares of SS&C Technologies by 571.4% during the third quarter. Nomura Holdings Inc. now owns 409,563 shares of the technology company’s stock valued at $21,518,000 after buying an additional 348,563 shares during the last quarter. Institutional investors 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.