SS&C Technologies (NASDAQ:SSNC) Given New $94.00 Price Target at DA Davidson

SS&C Technologies (NASDAQ:SSNC - Get Free Report) had its price objective cut by equities researchers at DA Davidson from $100.00 to $94.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. DA Davidson's target price would indicate a potential upside of 29.46% from the stock's current price.

Several other research analysts have also recently issued reports on SSNC. Royal Bank of Canada raised their target price on shares of SS&C Technologies from $86.00 to $96.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. StockNews.com cut shares of SS&C Technologies from a "strong-buy" rating to a "buy" rating in a research note on Friday. Jefferies Financial Group raised SS&C Technologies from a "hold" rating to a "buy" rating and raised their price objective for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. Needham & Company LLC reduced their price objective on shares of SS&C Technologies from $105.00 to $90.00 and set a "buy" rating for the company in a research note on Friday. Finally, UBS Group raised their price objective on SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, SS&C Technologies presently has an average rating of "Buy" and a consensus price target of $91.86.

SS&C Technologies Stock Down 0.1 %

SS&C Technologies stock traded down $0.08 during mid-day trading on Monday, hitting $72.61. The company's stock had a trading volume of 804,565 shares, compared to its average volume of 1,265,377. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market cap of $17.89 billion, a PE ratio of 24.18 and a beta of 1.31. The firm's 50 day moving average is $81.25 and its 200 day moving average is $78.60. SS&C Technologies has a 52-week low of $60.01 and a 52-week high of $89.73.

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

Insider Activity

In other news, Director Michael Jay Zamkow sold 23,000 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $88.39, for a total transaction of $2,032,970.00. Following the transaction, the director now directly owns 23,200 shares of the company's stock, valued at approximately $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 accessible through the SEC website. Also, SVP Jason Douglas White sold 71,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $88.96, for a total value of $6,316,160.00. Following the sale, the senior vice president now owns 6,412 shares of the company's stock, valued at $570,411.52. The trade was a 91.72 % decrease in their ownership of the stock. 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

A number of hedge funds and other institutional investors have recently bought and sold shares of SSNC. Atwood & Palmer Inc. boosted its position in SS&C Technologies by 125.8% in the first quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock worth $25,000 after purchasing an additional 166 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of SS&C Technologies in the 4th quarter worth approximately $39,000. Parkside Financial Bank & Trust lifted its holdings in shares of SS&C Technologies by 76.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company's stock worth $40,000 after buying an additional 229 shares during the period. True Wealth Design LLC increased its position in SS&C Technologies by 163.6% during the 4th quarter. True Wealth Design LLC now owns 551 shares of the technology company's stock valued at $42,000 after buying an additional 342 shares in the last quarter. Finally, Colonial Trust Co SC increased its holdings in shares of SS&C Technologies by 239.3% during the 4th quarter. Colonial Trust Co SC now owns 553 shares of the technology company's stock valued at $42,000 after purchasing an additional 390 shares in the last quarter. Institutional investors 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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