SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $61.00 at Jefferies Financial Group

SS&C Technologies (NASDAQ:SSNC - Get Free Report) had its price objective increased by investment analysts at Jefferies Financial Group from $54.00 to $61.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "hold" rating on the technology company's stock. Jefferies Financial Group's price target suggests a potential downside of 1.49% from the company's current price.

Several other equities research analysts have also issued reports on SSNC. DA Davidson reaffirmed a "buy" rating and issued a $78.00 price objective on shares of SS&C Technologies in a research note on Tuesday, April 16th. StockNews.com raised shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a research report on Monday, January 29th. Truist Financial raised their target price on shares of SS&C Technologies from $55.00 to $60.00 and gave the company a "hold" rating in a report on Wednesday, February 14th. TheStreet raised shares of SS&C Technologies from a "c+" rating to a "b" rating in a report on Friday, February 23rd. Finally, Citigroup upped their price objective on shares of SS&C Technologies from $70.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, SS&C Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $70.20.

SS&C Technologies Stock Up 1.1 %

NASDAQ SSNC traded up $0.68 during trading on Monday, reaching $61.92. 1,154,638 shares of the company's stock were exchanged, compared to its average volume of 970,802. SS&C Technologies has a 1 year low of $46.61 and a 1 year high of $65.86. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $15.31 billion, a P/E ratio of 24.67 and a beta of 1.43. The company has a 50 day moving average price of $62.78 and a two-hundred day moving average price of $59.24.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.13. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.39 billion. SS&C Technologies had a return on equity of 17.24% and a net margin of 11.46%. On average, equities research analysts anticipate that SS&C Technologies will post 4.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in shares of SS&C Technologies by 14.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,292 shares of the technology company's stock worth $79,000 after purchasing an additional 166 shares in the last quarter. Carret Asset Management LLC lifted its stake in shares of SS&C Technologies by 2.5% in the fourth quarter. Carret Asset Management LLC now owns 7,070 shares of the technology company's stock valued at $432,000 after buying an additional 175 shares during the period. IFM Investors Pty Ltd increased its holdings in shares of SS&C Technologies by 0.4% during the first quarter. IFM Investors Pty Ltd now owns 47,246 shares of the technology company's stock worth $3,041,000 after buying an additional 190 shares in the last quarter. Scotia Capital Inc. grew its holdings in SS&C Technologies by 0.3% during the 4th quarter. Scotia Capital Inc. now owns 55,124 shares of the technology company's stock worth $3,369,000 after acquiring an additional 191 shares during the period. Finally, SkyView Investment Advisors LLC lifted its position in SS&C Technologies by 4.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 4,963 shares of the technology company's stock valued at $261,000 after acquiring an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 96.95% of the company's stock.

About SS&C Technologies

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.