DA Davidson Issues Positive Forecast for SS&C Technologies (NASDAQ:SSNC) Stock Price

Key Points

• DA Davidson has raised its price target for SS&C Technologies from $98.00 to $102.00, suggesting a potential upside of 19.74% from the current stock price.
• Other research firms, including Needham & Company and UBS Group, have also issued positive ratings and increased price targets for the stock, indicating strong market confidence.
• SS&C Technologies reported a quarterly earnings per share of $1.45, exceeding analysts' expectations and showing a year-over-year revenue increase of 5.9%.
• Currently, around 96.95% of SS&C Technologies' stock is owned by hedge funds and institutional investors, highlighting significant institutional interest.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) had its price target boosted by equities researchers at DA Davidson from $98.00 to $102.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. DA Davidson's price target indicates a potential upside of 19.74% from the company's current price.

A number of other research firms have also recently commented on SSNC. Wall Street Zen upgraded SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Needham & Company LLC boosted their price objective on SS&C Technologies from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group reaffirmed a "buy" rating and issued a $108.00 price target (up previously from $105.00) on shares of SS&C Technologies in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on SS&C Technologies from $86.00 to $94.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Raymond James Financial increased their target price on SS&C Technologies from $90.00 to $95.00 and gave the stock a "strong-buy" rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, SS&C Technologies currently has an average rating of "Buy" and a consensus target price of $97.13.

SS&C Technologies Trading Down 0.8%

SS&C Technologies stock traded down $0.67 during mid-day trading on Friday, hitting $85.19. The company's stock had a trading volume of 720,696 shares, compared to its average volume of 1,395,099. SS&C Technologies has a one year low of $66.83 and a one year high of $89.73. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50 day moving average of $81.46 and a 200-day moving average of $80.98. The stock has a market cap of $21.01 billion, a PE ratio of 26.83 and a beta of 1.23.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. SS&C Technologies had a return on equity of 19.08% and a net margin of 13.34%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the company earned $1.27 earnings per share. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts anticipate that SS&C Technologies will post 5.35 EPS for the current year.

Insider Activity at SS&C Technologies

In other news, Director Jonathan E. Michael acquired 2,700 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was purchased at an average cost of $75.53 per share, with a total value of $203,931.00. Following the purchase, the director directly owned 72,776 shares of the company's stock, valued at approximately $5,496,771.28. This trade represents a 3.85% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael Jay Zamkow sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total value of $999,000.00. Following the completion of the transaction, the director directly owned 12,476 shares of the company's stock, valued at $997,081.92. The trade was a 50.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 16.40% of the company's stock.

Hedge Funds Weigh In On SS&C Technologies

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of SS&C Technologies in the second quarter worth $7,115,000. Board of the Pension Protection Fund acquired a new position in shares of SS&C Technologies in the second quarter worth $1,416,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of SS&C Technologies by 1.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,450 shares of the technology company's stock worth $1,362,000 after acquiring an additional 158 shares during the last quarter. Aberdeen Group plc raised its holdings in shares of SS&C Technologies by 5.8% in the second quarter. Aberdeen Group plc now owns 101,342 shares of the technology company's stock worth $8,391,000 after acquiring an additional 5,593 shares during the last quarter. Finally, Katamaran Capital LLP grew its position in shares of SS&C Technologies by 31.0% in the second quarter. Katamaran Capital LLP now owns 62,183 shares of the technology company's stock valued at $5,149,000 after purchasing an additional 14,720 shares during the period. 96.95% of the stock is owned by hedge funds and other institutional investors.

About SS&C Technologies

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.