Royal Bank Of Canada Increases SS&C Technologies (NASDAQ:SSNC) Price Target to $99.00

Key Points

• The Royal Bank of Canada raised the price target for SS&C Technologies from $97.00 to $99.00, suggesting a potential upside of 17.38% from the current price.
• Multiple research firms, including Needham & Company and DA Davidson, have issued updated price targets between $100.00 and $105.00, maintaining positive ratings for the stock.
• SS&C Technologies recently reported earnings of $1.45 EPS, surpassing expectations, with a revenue increase of 5.9% year-over-year, reaching $1.54 billion.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) had its price target hoisted by equities researchers at Royal Bank Of Canada from $97.00 to $99.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the technology company's stock. Royal Bank Of Canada's target price indicates a potential upside of 17.38% from the stock's current price.

Several other research firms also recently commented on SSNC. Needham & Company LLC increased their price objective on shares of SS&C Technologies from $100.00 to $105.00 and gave the company a "buy" rating in a report on Friday. DA Davidson set a $102.00 price target on shares of SS&C Technologies in a research report on Friday. Wall Street Zen upgraded shares of SS&C Technologies from a "hold" rating to a "buy" rating in a research note on Sunday, October 12th. Weiss Ratings reissued a "buy (b)" rating on shares of SS&C Technologies in a report on Wednesday, October 8th. Finally, Morgan Stanley upped their price target on SS&C Technologies from $88.00 to $92.00 and gave the company an "equal weight" rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.38.

SS&C Technologies Price Performance

SSNC traded up $3.46 during midday trading on Friday, hitting $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 market cap of $20.60 billion, a P/E ratio of 26.47 and a beta of 1.23. The business has a fifty day moving average of $86.91 and a 200 day moving average of $82.76. SS&C Technologies has a 1 year low of $66.83 and a 1 year high of $91.07. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14.

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

Institutional Trading of SS&C Technologies

Several large investors have recently modified their holdings of SSNC. Caldwell Trust Co bought a new position in shares of SS&C Technologies during the 2nd quarter worth about $27,000. Larson Financial Group LLC raised its holdings in SS&C Technologies by 634.8% in the first quarter. Larson Financial Group LLC now owns 338 shares of the technology company's stock worth $28,000 after purchasing an additional 292 shares during the period. Whittier Trust Co. acquired a new stake in SS&C Technologies in the 1st quarter valued at approximately $29,000. N.E.W. Advisory Services LLC acquired a new stake in SS&C Technologies in the 1st quarter valued at $29,000. Finally, Elequin Capital LP acquired a new position in shares of SS&C Technologies during the 1st quarter worth about $30,000. 96.90% of the stock is owned by institutional investors.

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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