Needham & Company LLC Issues Positive Forecast for SS&C Technologies (NASDAQ:SSNC) Stock Price

SS&C Technologies (NASDAQ:SSNC - Get Free Report) had its price objective boosted by analysts at Needham & Company LLC from $90.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price objective would indicate a potential upside of 16.48% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. Morgan Stanley boosted their target price on shares of SS&C Technologies from $75.00 to $88.00 and gave the stock an "equal weight" rating in a report on Thursday. UBS Group restated a "buy" rating and set a $108.00 target price (up from $105.00) on shares of SS&C Technologies in a report on Tuesday. Wall Street Zen upgraded shares of SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. restated a "neutral" rating and set a $86.00 target price (down from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. Finally, Raymond James Financial lowered their target price on shares of SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating on the stock in a report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $96.63.

SS&C Technologies Stock Up 2.6%

Shares of NASDAQ SSNC traded up $2.18 during midday trading on Thursday, reaching $85.85. The company's stock had a trading volume of 2,773,479 shares, compared to its average volume of 1,012,502. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.00. SS&C Technologies has a fifty-two week low of $66.83 and a fifty-two week high of $89.73. The stock has a market capitalization of $21.18 billion, a price-to-earnings ratio of 26.91 and a beta of 1.23. The stock has a 50 day simple moving average of $81.33 and a 200-day simple moving average of $80.91.

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

Insider Buying and Selling at SS&C Technologies

In other SS&C Technologies news, Director Jonathan E. Michael bought 2,700 shares of SS&C Technologies stock in a transaction dated Thursday, May 1st. The stock was 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 owned 72,776 shares in the company, valued at $5,496,771.28. The trade was a 3.85% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael Jay Zamkow sold 12,500 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.92, for a total transaction of $999,000.00. Following the completion of the sale, the director directly owned 12,476 shares of the company's stock, valued at approximately $997,081.92. The trade was a 50.05% decrease in their position. The disclosure for this sale can be found here. 16.40% of the stock is owned by insiders.

Institutional Investors Weigh In On SS&C Technologies

A number of institutional investors have recently modified their holdings of the business. IFM Investors Pty Ltd boosted its position in shares of 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 valued at $3,582,000 after acquiring an additional 130 shares during the period. EP Wealth Advisors LLC lifted its position in SS&C Technologies by 2.0% during the fourth quarter. EP Wealth Advisors LLC now owns 7,003 shares of the technology company's stock worth $531,000 after purchasing an additional 139 shares during the period. Global X Japan Co. Ltd. lifted its position in 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 worth $84,000 after purchasing an additional 140 shares during the period. Tectonic Advisors LLC lifted its position 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 worth $629,000 after purchasing an additional 144 shares during the period. Finally, MAI Capital Management lifted its position in SS&C Technologies by 11.7% during the first quarter. MAI Capital Management now owns 1,401 shares of the technology company's stock worth $117,000 after purchasing 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.