SS&C Technologies (NASDAQ:SSNC) Given New $106.00 Price Target at DA Davidson

SS&C Technologies (NASDAQ:SSNC) had its target price lifted by research analysts at DA Davidson from $102.00 to $106.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective would indicate a potential upside of 23.59% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of SS&C Technologies in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. Jefferies Financial Group boosted their price objective on shares of SS&C Technologies from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. UBS Group raised their target price on SS&C Technologies from $110.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of SS&C Technologies in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.25.

SS&C Technologies Price Performance

Shares of SSNC traded up $1.15 during trading hours on Thursday, reaching $85.77. The stock had a trading volume of 145,586 shares, compared to its average volume of 1,267,542. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.12 and a current ratio of 1.12. SS&C Technologies has a 12 month low of $69.61 and a 12 month high of $91.07. The stock has a market capitalization of $20.93 billion, a PE ratio of 25.46 and a beta of 1.19. The company’s 50-day moving average is $86.39 and its two-hundred day moving average is $86.07.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, October 23rd. The technology company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. SS&C Technologies had a return on equity of 19.80% and a net margin of 13.86%.The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $1.29 earnings per share. Research analysts expect that SS&C Technologies will post 5.35 EPS for the current year.

Insiders Place Their Bets

In other SS&C Technologies news, Director Normand A. Boulanger sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $85.85, for a total value of $12,877,500.00. Following the transaction, the director directly owned 386,924 shares of the company’s stock, valued at approximately $33,217,425.40. The trade was a 27.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.40% of the company’s stock.

Institutional Investors Weigh In On SS&C Technologies

A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in SS&C Technologies by 349.1% during the first quarter. Millennium Management LLC now owns 176,630 shares of the technology company’s stock worth $14,754,000 after purchasing an additional 137,301 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of SS&C Technologies by 6,069.0% during the first quarter. NewEdge Advisors LLC now owns 2,591 shares of the technology company’s stock valued at $216,000 after acquiring an additional 2,549 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in SS&C Technologies by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 690,340 shares of the technology company’s stock worth $57,664,000 after purchasing an additional 97,247 shares during the last quarter. Focus Partners Wealth grew its stake in SS&C Technologies by 35.1% in the 1st quarter. Focus Partners Wealth now owns 9,362 shares of the technology company’s stock valued at $782,000 after purchasing an additional 2,431 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of SS&C Technologies by 54.0% during the 2nd quarter. GAMMA Investing LLC now owns 5,080 shares of the technology company’s stock valued at $421,000 after purchasing an additional 1,782 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.

SS&C Technologies Company Profile

SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.

SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.