SS&C Technologies (NASDAQ:SSNC) Given New $90.00 Price Target at Needham & Company LLC

SS&C Technologies (NASDAQ:SSNC - Get Free Report) had its target price dropped by investment analysts at Needham & Company LLC from $105.00 to $90.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Needham & Company LLC's price objective would indicate a potential upside of 20.26% from the stock's current price.

A number of other equities research analysts have also recently weighed in on the company. UBS Group boosted their price objective on SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. StockNews.com raised SS&C Technologies from a "buy" rating to a "strong-buy" rating in a report on Monday, February 10th. Jefferies Financial Group raised SS&C Technologies from a "hold" rating to a "buy" rating and boosted their target price for the company from $70.00 to $94.00 in a report on Monday, February 3rd. Royal Bank of Canada boosted their target price on SS&C Technologies from $86.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Raymond James boosted their target price on SS&C Technologies from $85.00 to $95.00 and gave the company a "strong-buy" rating in a report on Friday, February 7th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $91.86.

SS&C Technologies Stock Down 0.1 %

SSNC stock traded down $0.07 during trading on Friday, hitting $74.84. 514,819 shares of the company's stock were exchanged, compared to its average volume of 1,271,218. The business has a 50-day moving average price of $80.65 and a two-hundred day moving average price of $78.56. The stock has a market capitalization of $18.44 billion, a price-to-earnings ratio of 24.95 and a beta of 1.31. SS&C Technologies has a 52-week low of $60.01 and a 52-week high of $89.73. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.03. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The firm's revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 earnings per share. As a group, equities research analysts expect that SS&C Technologies will post 5.35 EPS for the current year.

Insider Activity at SS&C Technologies

In related news, Director Michael Jay Zamkow sold 23,000 shares of the firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $88.39, for a total value of $2,032,970.00. Following the completion of the sale, the director now owns 23,200 shares in the company, valued at $2,050,648. This trade represents a 49.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jason Douglas White sold 71,000 shares of SS&C Technologies stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total transaction of $6,316,160.00. Following the transaction, the senior vice president now owns 6,412 shares of the company's stock, valued at approximately $570,411.52. The trade was a 91.72 % decrease in their position. 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 and other institutional investors have recently added to or reduced their stakes in the business. Atwood & Palmer Inc. raised its position in SS&C Technologies by 125.8% during the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock worth $25,000 after acquiring an additional 166 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of SS&C Technologies during the fourth quarter worth about $39,000. Parkside Financial Bank & Trust grew its holdings in shares of SS&C Technologies by 76.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock worth $40,000 after buying an additional 229 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of SS&C Technologies by 163.6% during the fourth quarter. True Wealth Design LLC now owns 551 shares of the technology company's stock worth $42,000 after buying an additional 342 shares in the last quarter. Finally, Colonial Trust Co SC grew its holdings in shares of SS&C Technologies by 239.3% during the fourth quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock worth $42,000 after buying an additional 390 shares in the last quarter. Institutional investors and hedge funds own 96.95% of the company's stock.

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.