SS&C Technologies (NASDAQ:SSNC) Given New $65.00 Price Target at Needham & Company LLC

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SS&C Technologies (NASDAQ:SSNC) had its price objective cut by Needham & Company LLC to $65.00 in a report released on Tuesday, July 30th, The Fly reports. They currently have a strong-buy rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Buckingham Research reduced their price target on shares of SS&C Technologies from $72.00 to $67.00 and set a buy rating for the company in a research report on Tuesday, July 30th. UBS Group increased their target price on shares of SS&C Technologies from $75.00 to $80.00 and gave the stock a buy rating in a report on Tuesday, April 9th. Zacks Investment Research lowered shares of SS&C Technologies from a buy rating to a hold rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. reissued a buy rating on shares of SS&C Technologies in a report on Monday, July 1st. Finally, Jefferies Financial Group lowered shares of SS&C Technologies from a buy rating to a hold rating and increased their price objective for the company from $58.00 to $64.00 in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $69.00.

Shares of SSNC stock opened at $44.58 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.77. The stock has a market cap of $11.23 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.81 and a beta of 1.25. The company’s fifty day moving average price is $54.08 and its 200-day moving average price is $58.50. SS&C Technologies has a 12 month low of $40.96 and a 12 month high of $67.73.

SS&C Technologies (NASDAQ:SSNC) last posted its earnings results on Monday, July 29th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. SS&C Technologies had a net margin of 7.22% and a return on equity of 19.13%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS. On average, sell-side analysts forecast that SS&C Technologies will post 3.48 earnings per share for the current fiscal year.

In related news, Director Jonathan E. Michael purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average cost of $48.11 per share, for a total transaction of $96,220.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.50% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in SSNC. Norges Bank purchased a new stake in SS&C Technologies in the fourth quarter worth $108,590,000. Swedbank purchased a new stake in SS&C Technologies in the first quarter worth $109,590,000. FMR LLC increased its stake in SS&C Technologies by 33.3% in the first quarter. FMR LLC now owns 6,744,444 shares of the technology company’s stock worth $429,553,000 after purchasing an additional 1,686,693 shares during the period. Nuveen Asset Management LLC purchased a new stake in SS&C Technologies in the second quarter worth $89,502,000. Finally, Findlay Park Partners LLP purchased a new stake in SS&C Technologies in the first quarter worth $74,597,000. Institutional investors and hedge funds own 82.23% of the company’s stock.

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.

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

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