SS&C Technologies (NASDAQ:SSNC) PT Raised to $70.00

Posted by Anthony Sawyer on Jan 17th, 2020

SS&C Technologies (NASDAQ:SSNC) had its price objective raised by Credit Suisse Group from $65.00 to $70.00 in a research note released on Monday morning, The Fly reports. They currently have an outperform rating on the technology company’s stock.

Several other equities analysts also recently weighed in on SSNC. BTIG Research began coverage on shares of SS&C Technologies in a report on Monday. They set a buy rating and a $72.00 price target on the stock. BidaskClub raised shares of SS&C Technologies from a hold rating to a buy rating in a report on Saturday, January 11th. Morgan Stanley boosted their target price on shares of SS&C Technologies from $57.00 to $59.00 and gave the stock an equal weight rating in a report on Friday, November 1st. DA Davidson boosted their target price on shares of SS&C Technologies from $62.00 to $72.00 and gave the stock a buy rating in a report on Wednesday, January 8th. Finally, Zacks Investment Research raised shares of SS&C Technologies from a hold rating to a buy rating and set a $65.00 target price on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $68.23.

Shares of NASDAQ:SSNC opened at $63.25 on Monday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.08 and a quick ratio of 1.08. SS&C Technologies has a 1-year low of $42.51 and a 1-year high of $67.73. The company has a market capitalization of $15.98 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.30 and a beta of 1.31. The firm’s 50 day simple moving average is $60.74 and its two-hundred day simple moving average is $54.45.

SS&C Technologies (NASDAQ:SSNC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.04. SS&C Technologies had a net margin of 7.83% and a return on equity of 19.25%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, sell-side analysts anticipate that SS&C Technologies will post 3.51 earnings per share for the current fiscal year.

In related news, CEO William C. Stone sold 255,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $58.84, for a total transaction of $15,004,200.00. Following the sale, the chief executive officer now owns 31,931,624 shares of the company’s stock, valued at $1,878,856,756.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 142 shares of company stock worth $8,373 in the last three months. Insiders own 14.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SSNC. Renaissance Technologies LLC purchased a new stake in SS&C Technologies during the second quarter valued at $17,951,000. Canada Pension Plan Investment Board raised its stake in SS&C Technologies by 2,790.7% during the second quarter. Canada Pension Plan Investment Board now owns 1,243 shares of the technology company’s stock valued at $72,000 after purchasing an additional 1,200 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in SS&C Technologies by 5.4% during the second quarter. Pictet Asset Management Ltd. now owns 81,663 shares of the technology company’s stock valued at $4,705,000 after purchasing an additional 4,200 shares in the last quarter. Toronto Dominion Bank raised its stake in SS&C Technologies by 17.7% during the second quarter. Toronto Dominion Bank now owns 47,799 shares of the technology company’s stock valued at $2,677,000 after purchasing an additional 7,180 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in SS&C Technologies by 37.0% during the second quarter. MML Investors Services LLC now owns 14,428 shares of the technology company’s stock valued at $831,000 after purchasing an additional 3,900 shares in the last quarter. 83.15% of the stock is currently owned by institutional investors.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.

SS&C Technologies (NASDAQ:SSNC) PT Raised to $70.00

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