SS&C Technologies (NASDAQ:SSNC) Price Target Raised to $92.00

Key Points

• Morgan Stanley has raised its price target for SS&C Technologies from $88.00 to $92.00, indicating a potential upside of 13.75% based on the company's previous close.
• The consensus rating for SS&C Technologies is categorized as a "Moderate Buy," with one analyst rating it as a Strong Buy and several others issuing Buy and Hold ratings.
• SS&C Technologies reported a Q2 EPS of $1.45, exceeding estimates, with a revenue increase of 5.9% year-over-year, highlighting strong financial performance.

SS&C Technologies (NASDAQ:SSNC - Get Free Report) had its price target boosted by research analysts at Morgan Stanley from $88.00 to $92.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the technology company's stock. Morgan Stanley's target price points to a potential upside of 13.75% from the company's previous close.

Several other research analysts have also commented on SSNC. Weiss Ratings reiterated a "buy (b)" rating on shares of SS&C Technologies in a research report on Wednesday, October 8th. DA Davidson lifted their target price on SS&C Technologies from $98.00 to $102.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Wall Street Zen upgraded SS&C Technologies from a "hold" rating to a "buy" rating in a research report on Sunday, October 12th. Raymond James Financial lifted their target price on SS&C Technologies from $95.00 to $101.00 and gave the stock a "strong-buy" rating in a research report on Friday, October 17th. Finally, UBS Group lifted 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $99.25.

SS&C Technologies Price Performance

SSNC stock opened at $80.88 on Friday. The company has a market capitalization of $19.75 billion, a PE ratio of 25.35 and a beta of 1.23. The stock's 50 day moving average is $86.91 and its two-hundred day moving average is $82.76. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.97. 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 issued its earnings results on Wednesday, July 23rd. The technology company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.39 by $0.06. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. SS&C Technologies had a return on equity of 18.92% and a net margin of 13.34%.The business's revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 EPS. Analysts predict that SS&C Technologies will post 5.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC boosted its position in SS&C Technologies by 29.9% during the 1st quarter. Kestra Private Wealth Services LLC now owns 16,050 shares of the technology company's stock valued at $1,341,000 after purchasing an additional 3,698 shares during the period. Bank of New York Mellon Corp boosted its position in SS&C Technologies by 6.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,191,017 shares of the technology company's stock valued at $99,486,000 after purchasing an additional 75,807 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in SS&C Technologies by 403.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,865 shares of the technology company's stock valued at $6,337,000 after purchasing an additional 60,784 shares during the period. Envestnet Asset Management Inc. boosted its position in SS&C Technologies by 31.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 736,523 shares of the technology company's stock valued at $61,522,000 after purchasing an additional 177,079 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in SS&C Technologies by 47.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,933 shares of the technology company's stock valued at $3,085,000 after purchasing an additional 11,863 shares during the period. Institutional investors and hedge funds own 96.90% of the company's stock.

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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