SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $86.00

SS&C Technologies (NASDAQ:SSNC) had its target price upped by analysts at Royal Bank of Canada from $75.00 to $86.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 12.76% from the company’s previous close.

Several other research analysts also recently weighed in on SSNC. Needham & Company LLC upped their price target on shares of SS&C Technologies from $81.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday. DA Davidson upped their price target on shares of SS&C Technologies from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $73.25.

SS&C Technologies Price Performance

Shares of SSNC stock traded up $0.91 during mid-day trading on Thursday, hitting $76.27. 66,404 shares of the stock were exchanged, compared to its average volume of 980,084. The firm has a fifty day moving average of $71.59 and a 200 day moving average of $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 has a 52-week low of $46.61 and a 52-week high of $76.93. The company has a market cap of $18.72 billion, a PE ratio of 30.34 and a beta of 1.38.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Thursday, July 25th. The technology company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.07. SS&C Technologies had a net margin of 12.33% and a return on equity of 17.43%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company posted $0.96 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts anticipate that SS&C Technologies will post 4.66 earnings per share for the current year.

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, COO Rahul Kanwar sold 412,190 shares of the 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 sale, the chief operating officer now owns 57,642 shares in the company, valued at approximately $4,215,359.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Normand A. Boulanger sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $75.38, for a total transaction of $9,799,400.00. Following the completion of the sale, the director now owns 333,576 shares in the company, valued at approximately $25,144,958.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Rahul Kanwar sold 412,190 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.13, for a total transaction of $30,143,454.70. Following the sale, the chief operating officer now owns 57,642 shares of the company’s stock, valued at approximately $4,215,359.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 590,690 shares of company stock worth $43,377,625. Insiders own 15.40% of the company’s stock.

Institutional Trading of SS&C Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pzena Investment Management LLC increased its holdings in shares of SS&C Technologies by 0.3% during the 1st quarter. Pzena Investment Management LLC now owns 14,519,103 shares of the technology company’s stock worth $934,595,000 after buying an additional 46,211 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of SS&C Technologies by 0.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 7,798,723 shares of the technology company’s stock worth $488,746,000 after buying an additional 53,080 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of SS&C Technologies by 4.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,942,374 shares of the technology company’s stock worth $309,739,000 after purchasing an additional 201,632 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of SS&C Technologies by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,860,256 shares of the technology company’s stock worth $248,485,000 after purchasing an additional 25,183 shares during the period. Finally, Millennium Management LLC boosted its position in shares of SS&C Technologies by 49.2% during the 2nd quarter. Millennium Management LLC now owns 3,399,874 shares of the technology company’s stock worth $213,070,000 after purchasing an additional 1,120,961 shares during the period. Institutional investors and hedge funds 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.