JPMorgan Chase & Co. Boosts SS&C Technologies (NASDAQ:SSNC) Price Target to $94.00

SS&C Technologies (NASDAQ:SSNC - Get Free Report) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $86.00 to $94.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 8.38% from the stock's current price.

SSNC has been the subject of a number of other reports. Raymond James Financial cut their price target on SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating for the company in a research note on Friday, April 25th. Wall Street Zen raised SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. UBS Group restated a "buy" rating and set a $105.00 price objective on shares of SS&C Technologies in a research note on Tuesday. Morgan Stanley lifted their target price on SS&C Technologies from $75.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, 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 report on Thursday. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $95.63.

SS&C Technologies Stock Up 3.7%

SS&C Technologies stock traded up $3.06 during trading on Thursday, reaching $86.73. The stock had a trading volume of 1,087,602 shares, compared to its average volume of 1,387,720. The business has a 50 day moving average price of $81.33 and a 200 day moving average price of $80.91. The stock has a market cap of $21.39 billion, a PE ratio of 26.87 and a beta of 1.23. SS&C Technologies has a 52-week low of $66.83 and a 52-week high of $89.73. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.00.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.39 by $0.06. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. SS&C Technologies had a net margin of 13.69% and a return on equity of 18.68%. The business's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.27 EPS. On average, analysts predict 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 purchased 2,700 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were bought at an average price of $75.53 per share, with a total value of $203,931.00. Following the completion of the transaction, the director directly owned 72,776 shares in the company, valued at $5,496,771.28. This trade represents a 3.85% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Jay Zamkow sold 12,500 shares of SS&C Technologies stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.92, for a total transaction of $999,000.00. Following the sale, the director owned 12,476 shares in the company, valued at $997,081.92. This represents a 50.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. IFM Investors Pty Ltd increased its holdings in SS&C Technologies by 0.3% in the second quarter. IFM Investors Pty Ltd now owns 43,256 shares of the technology company's stock worth $3,582,000 after purchasing an additional 130 shares in the last quarter. EP Wealth Advisors LLC grew its position in shares of SS&C Technologies by 2.0% in the 4th quarter. EP Wealth Advisors LLC now owns 7,003 shares of the technology company's stock worth $531,000 after buying an additional 139 shares during the last quarter. Global X Japan Co. Ltd. boosted its position in shares of SS&C Technologies by 16.1% during the first quarter. Global X Japan Co. Ltd. now owns 1,011 shares of the technology company's stock valued at $84,000 after purchasing an additional 140 shares in the last quarter. Tectonic Advisors LLC grew its holdings in SS&C Technologies by 1.9% during the first quarter. Tectonic Advisors LLC now owns 7,534 shares of the technology company's stock valued at $629,000 after purchasing an additional 144 shares during the period. Finally, MAI Capital Management boosted its stake in shares of SS&C Technologies by 11.7% in the first quarter. MAI Capital Management now owns 1,401 shares of the technology company's stock worth $117,000 after acquiring an additional 147 shares during the period. Institutional investors own 96.95% of the company's stock.

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.

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