Raymond James Financial Issues Positive Forecast for SS&C Technologies (NASDAQ:SSNC) Stock Price

SS&C Technologies (NASDAQ:SSNC - Get Free Report) had its price target increased by stock analysts at Raymond James Financial from $90.00 to $95.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "strong-buy" rating on the technology company's stock. Raymond James Financial's price objective would indicate a potential upside of 10.47% from the stock's current price.

SSNC has been the subject of a number of other reports. JPMorgan Chase & Co. raised their target price on SS&C Technologies from $86.00 to $94.00 and gave the company a "neutral" rating in a report on Thursday. DA Davidson raised their target price on SS&C Technologies from $94.00 to $98.00 and gave the company a "buy" rating in a report on Monday, July 14th. UBS Group restated a "buy" rating and set a $105.00 target price on shares of SS&C Technologies in a report on Tuesday. Morgan Stanley raised their target price on SS&C Technologies from $75.00 to $88.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Needham & Company LLC lifted their price objective on SS&C Technologies from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $96.25.

SS&C Technologies Trading Up 2.8%

Shares of SSNC stock traded up $2.33 during trading hours on Thursday, hitting $86.00. The company had a trading volume of 1,434,124 shares, compared to its average volume of 1,390,158. The company's fifty day moving average is $81.33 and its 200 day moving average is $80.91. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.11 and a quick ratio of 1.11. 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 $21.21 billion, a PE ratio of 26.79 and a beta of 1.23.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.06. SS&C Technologies had a return on equity of 18.68% and a net margin of 13.69%. The company had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same period last year, the business posted $1.27 EPS. SS&C Technologies's revenue for the quarter was up 5.9% on a year-over-year basis. Research analysts expect that SS&C Technologies will post 5.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Michael Jay Zamkow sold 12,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was 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 approximately $997,081.92. This trade represents a 50.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan E. Michael bought 2,700 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were acquired at an average cost of $75.53 per share, for a total transaction of $203,931.00. Following the transaction, the director directly owned 72,776 shares in the company, valued at approximately $5,496,771.28. This represents a 3.85% increase in their position. The disclosure for this purchase can be found here. 16.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SSNC. Atwood & Palmer Inc. increased 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 buying an additional 166 shares during the period. Larson Financial Group LLC grew its stake in shares of SS&C Technologies by 634.8% in the 1st quarter. Larson Financial Group LLC now owns 338 shares of the technology company's stock valued at $28,000 after purchasing an additional 292 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of SS&C Technologies in the 1st quarter valued at approximately $29,000. N.E.W. Advisory Services LLC purchased a new position in shares of SS&C Technologies in the 1st quarter valued at approximately $29,000. Finally, Elequin Capital LP purchased a new position in shares of SS&C Technologies in the 1st quarter valued at approximately $30,000. 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.

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