SS&C Technologies (NASDAQ:SSNC) PT Raised to $90.00 at Needham & Company LLC

SS&C Technologies (NASDAQ:SSNC) had its price objective increased by equities researchers at Needham & Company LLC from $81.00 to $90.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price points to a potential upside of 19.43% from the stock’s current price.

Several other research firms have also recently commented on SSNC. Royal Bank of Canada raised their target price on shares of SS&C Technologies from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. DA Davidson lifted their price target on SS&C Technologies from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.88.

SS&C Technologies Stock Performance

NASDAQ SSNC opened at $75.36 on Thursday. The firm has a market cap of $18.64 billion, a P/E ratio of 30.02 and a beta of 1.38. SS&C Technologies has a 52-week low of $46.61 and a 52-week high of $76.69. The business’s 50-day moving average price is $71.59 and its 200 day moving average price is $65.56. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.01.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings data on Thursday, July 25th. The technology company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. SS&C Technologies had a return on equity of 17.43% and a net margin of 12.33%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. On average, equities research analysts expect that SS&C Technologies will post 4.66 earnings per share for the current year.

Insider Activity

In related news, Director Smita Conjeevaram sold 48,500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total value of $3,434,770.00. Following the sale, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Rahul Kanwar sold 412,190 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.13, for a total value of $30,143,454.70. Following the completion of the transaction, the chief operating officer now owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Smita Conjeevaram sold 48,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $70.82, for a total transaction of $3,434,770.00. Following the completion of the transaction, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $678,172.32. The disclosure for this sale can be found here. Insiders sold a total of 590,690 shares of company stock worth $43,377,625 over the last 90 days. 15.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Burgundy Asset Management Ltd. increased its stake in SS&C Technologies by 2.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,716,792 shares of the technology company’s stock valued at $288,243,000 after purchasing an additional 101,948 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of SS&C Technologies by 39.3% during the 1st quarter. SG Americas Securities LLC now owns 66,879 shares of the technology company’s stock worth $4,305,000 after acquiring an additional 18,878 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of SS&C Technologies by 2,178.2% in the second quarter. Assenagon Asset Management S.A. now owns 104,797 shares of the technology company’s stock worth $6,568,000 after acquiring an additional 100,197 shares during the last quarter. UBS Group AG increased its holdings in shares of SS&C Technologies by 24.5% during the 4th quarter. UBS Group AG now owns 401,090 shares of the technology company’s stock worth $24,511,000 after buying an additional 79,029 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in SS&C Technologies by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 253,867 shares of the technology company’s stock worth $16,341,000 after purchasing an additional 11,497 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company’s stock.

About SS&C Technologies

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.