Raymond James Financial Forecasts Strong Price Appreciation for SS&C Technologies (NASDAQ:SSNC) Stock

Key Points

• Raymond James Financial raised the price target for SS&C Technologies (NASDAQ:SSNC) from $101.00 to $105.00, indicating a potential upside of 24.50% from its previous close.
• The stock received various ratings from analysts, including seven "buy" ratings and one "strong buy," contributing to a consensus rating of "Moderate Buy."
• SS&C Technologies recently reported earnings of $1.45 per share, beating analysts' expectations and reflecting a 5.9% year-over-year revenue increase.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) had its price target boosted by stock analysts at Raymond James Financial from $101.00 to $105.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "strong-buy" rating on the technology company's stock. Raymond James Financial's target price points to a potential upside of 24.50% from the company's previous close.

Several other equities analysts have also recently issued reports on SSNC. Morgan Stanley upped their target price on shares of SS&C Technologies from $88.00 to $92.00 and gave the company an "equal weight" rating in a research note on Friday. UBS Group increased their target price on SS&C Technologies from $108.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. upped their price target on SS&C Technologies from $86.00 to $94.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Needham & Company LLC boosted their target price on shares of SS&C Technologies from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Friday. Finally, Wall Street Zen raised shares of SS&C Technologies from a "hold" rating to a "buy" rating in a research note on Sunday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.38.

SS&C Technologies Trading Up 4.3%

Shares of SSNC stock traded up $3.46 during mid-day trading on Friday, reaching $84.34. The stock had a trading volume of 1,115,072 shares, compared to its average volume of 1,329,741. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The stock's 50-day moving average price is $86.91 and its two-hundred day moving average price is $82.76. The firm has a market capitalization of $20.60 billion, a PE ratio of 26.47 and a beta of 1.23. SS&C Technologies has a 52-week low of $66.83 and a 52-week high of $91.07.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.06. SS&C Technologies had a return on equity of 18.92% and a net margin of 13.34%.The firm had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the previous year, the firm earned $1.27 earnings per share. The business's revenue was up 5.9% compared to the same quarter last year. Equities analysts expect that SS&C Technologies will post 5.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SS&C Technologies

A number of large investors have recently made changes to their positions in the business. Caldwell Trust Co acquired a new stake in shares of SS&C Technologies in the 2nd quarter worth $27,000. Larson Financial Group LLC increased its position in SS&C Technologies by 634.8% during the 1st quarter. Larson Financial Group LLC now owns 338 shares of the technology company's stock valued at $28,000 after buying an additional 292 shares in the last quarter. Whittier Trust Co. purchased a new stake in SS&C Technologies in the first quarter valued at about $29,000. N.E.W. Advisory Services LLC acquired a new stake in SS&C Technologies in the first quarter worth about $29,000. Finally, Elequin Capital LP acquired a new position in shares of SS&C Technologies during the first quarter valued at about $30,000. 96.90% of the stock is owned by institutional investors and hedge funds.

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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