SS&C Technologies (NASDAQ:SSNC) Given New $88.00 Price Target at Morgan Stanley

SS&C Technologies (NASDAQ:SSNC - Get Free Report) had its price target upped by stock analysts at Morgan Stanley from $75.00 to $88.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the technology company's stock. Morgan Stanley's price objective would indicate a potential upside of 2.50% from the stock's current price.

Several other research analysts have also recently issued reports on the stock. Raymond James Financial decreased their target price on shares of SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating for the company in a report on Friday, April 25th. Needham & Company LLC decreased their target price on shares of SS&C Technologies from $105.00 to $90.00 and set a "buy" rating for the company in a report on Friday, April 25th. Wall Street Zen upgraded shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. UBS Group reiterated a "buy" rating and issued a $108.00 price target (up from $105.00) on shares of SS&C Technologies in a research note on Tuesday. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $86.00 price target (down from $90.00) on shares of SS&C Technologies in a research note on Friday, April 25th. Two research 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $96.63.

SS&C Technologies Stock Up 2.6%

SS&C Technologies stock traded up $2.18 during trading hours on Thursday, hitting $85.85. The stock had a trading volume of 2,773,479 shares, compared to its average volume of 1,012,502. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $21.18 billion, a P/E ratio of 26.91 and a beta of 1.23. SS&C Technologies has a 12-month low of $66.83 and a 12-month high of $89.73. The stock's 50-day moving average price is $81.33 and its 200-day moving average price is $80.91.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.06. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. SS&C Technologies had a net margin of 13.34% and a return on equity of 19.08%. 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 company earned $1.27 earnings per share. Equities research analysts anticipate that SS&C Technologies will post 5.35 EPS for the current fiscal year.

Insider Activity at SS&C Technologies

In other SS&C Technologies news, Director Jonathan E. Michael bought 2,700 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average cost of $75.53 per share, for a total transaction of $203,931.00. Following the completion of the transaction, the director owned 72,776 shares of the company's stock, valued at $5,496,771.28. This represents a 3.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Jay Zamkow sold 12,500 shares of the business'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 transaction of $999,000.00. Following the sale, the director owned 12,476 shares of the company's stock, valued at $997,081.92. This trade represents a 50.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.40% of the company's stock.

Institutional Trading of SS&C Technologies

Several large investors have recently added to or reduced their stakes in SSNC. Norges Bank bought a new position in shares of SS&C Technologies in the fourth quarter worth approximately $205,475,000. Swedbank AB boosted its stake in shares of SS&C Technologies by 72.0% in the second quarter. Swedbank AB now owns 3,419,654 shares of the technology company's stock worth $283,147,000 after acquiring an additional 1,431,620 shares during the period. Bank of America Corp DE boosted its stake in shares of SS&C Technologies by 64.9% in the fourth quarter. Bank of America Corp DE now owns 2,235,142 shares of the technology company's stock worth $169,379,000 after acquiring an additional 880,058 shares during the period. Senator Investment Group LP boosted its position in shares of SS&C Technologies by 133.7% during the fourth quarter. Senator Investment Group LP now owns 1,519,175 shares of the technology company's stock worth $115,123,000 after acquiring an additional 869,175 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of SS&C Technologies by 87.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,787,419 shares of the technology company's stock worth $147,998,000 after acquiring an additional 834,393 shares during the last quarter. 96.95% of the stock is currently owned by institutional investors.

SS&C Technologies Company Profile

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.