SS&C Technologies’ (SSNC) “Buy” Rating Reaffirmed at Royal Bank of Canada

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SS&C Technologies (NASDAQ:SSNC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Royal Bank of Canada in a research note issued on Thursday, AnalystRatings.com reports. They currently have a $68.00 price target on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 18.26% from the stock’s previous close.

Several other research firms have also weighed in on SSNC. Credit Suisse Group boosted their price target on SS&C Technologies from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler upped their price target on shares of SS&C Technologies from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday. ValuEngine upgraded shares of SS&C Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised shares of SS&C Technologies from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Jefferies Financial Group cut their price target on SS&C Technologies from $61.00 to $59.00 and set a “hold” rating for the company in a report on Monday, May 4th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $66.75.

Shares of SSNC opened at $57.50 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.44. SS&C Technologies has a 12 month low of $29.51 and a 12 month high of $66.74. The firm has a fifty day simple moving average of $56.68 and a 200 day simple moving average of $55.55. The stock has a market capitalization of $14.73 billion, a price-to-earnings ratio of 30.10 and a beta of 1.49.

SS&C Technologies (NASDAQ:SSNC) last announced its quarterly earnings data on Tuesday, July 28th. The technology company reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.14. SS&C Technologies had a return on equity of 20.41% and a net margin of 10.85%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the company earned $0.91 EPS. SS&C Technologies’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, research analysts predict that SS&C Technologies will post 3.66 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSNC. Two Sigma Advisers LP acquired a new stake in SS&C Technologies during the first quarter worth approximately $1,163,000. Meeder Asset Management Inc. increased its stake in shares of SS&C Technologies by 24.0% during the 1st quarter. Meeder Asset Management Inc. now owns 38,021 shares of the technology company’s stock worth $1,664,000 after purchasing an additional 7,352 shares during the last quarter. Wells Fargo & Company MN increased its position in SS&C Technologies by 2.6% in the first quarter. Wells Fargo & Company MN now owns 549,704 shares of the technology company’s stock worth $24,088,000 after buying an additional 13,873 shares during the last quarter. AXA lifted its position in shares of SS&C Technologies by 45.4% during the 1st quarter. AXA now owns 133,134 shares of the technology company’s stock valued at $5,834,000 after buying an additional 41,592 shares during the last quarter. Finally, Private Trust Co. NA lifted its stake in shares of SS&C Technologies by 10.3% during the 2nd quarter. Private Trust Co. NA now owns 10,063 shares of the technology company’s stock valued at $569,000 after buying an additional 943 shares in the last quarter. 81.20% of the stock is currently owned by institutional investors.

About SS&C Technologies

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.

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Analyst Recommendations for SS&C Technologies (NASDAQ:SSNC)

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