SS&C Technologies (NASDAQ:SSNC) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of SS&C Technologies (NASDAQ:SSNC - Free Report) from a buy rating to a strong-buy rating in a research report released on Friday morning.

SSNC has been the subject of several other research reports. UBS Group increased their target price on shares of SS&C Technologies from $92.00 to $93.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Royal Bank of Canada raised their price objective 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. Raymond James decreased their price objective on shares of SS&C Technologies from $95.00 to $90.00 and set a "strong-buy" rating for the company in a report on Friday, April 25th. Needham & Company LLC decreased 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 report on Friday, April 25th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $86.00 price objective (down previously from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, SS&C Technologies has a consensus rating of "Buy" and an average price target of $91.86.

SS&C Technologies Stock Up 0.6%

Shares of SS&C Technologies stock traded up $0.46 during trading hours on Friday, reaching $80.06. The company's stock had a trading volume of 1,088,615 shares, compared to its average volume of 1,308,693. The stock's fifty day simple moving average is $78.40 and its two-hundred day simple moving average is $78.97. The company has a market capitalization of $19.75 billion, a P/E ratio of 26.69 and a beta of 1.24. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.21 and a current ratio of 1.21. SS&C Technologies has a one year low of $60.01 and a one year 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 EPS for the quarter, beating the consensus estimate of $1.41 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.28 earnings per share. On average, research analysts forecast that SS&C Technologies will post 5.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Jason Douglas White sold 71,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $88.96, for a total value of $6,316,160.00. Following the completion of the transaction, the senior vice president now directly owns 6,412 shares in the company, valued at approximately $570,411.52. This trade represents a 91.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan E. Michael acquired 2,700 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was purchased at an average price of $75.53 per share, with a total value of $203,931.00. Following the completion of the transaction, the director now directly owns 72,776 shares of the company's stock, valued at $5,496,771.28. This trade represents a 3.85% increase in their position. The disclosure for this purchase can be found here. Insiders sold 106,500 shares of company stock worth $9,348,130 over the last quarter. 16.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SS&C Technologies

Hedge funds have recently made changes to their positions in the business. Atwood & Palmer Inc. lifted its holdings in shares of SS&C Technologies by 125.8% in the 1st quarter. Atwood & Palmer Inc. now owns 298 shares of the technology company's stock worth $25,000 after acquiring an additional 166 shares during the last quarter. 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 purchasing an additional 292 shares during the period. Whittier Trust Co. purchased a new position in SS&C Technologies during the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC purchased a new position in SS&C Technologies during the 1st quarter valued at $29,000. Finally, Elequin Capital LP purchased a new position in SS&C Technologies during the 1st quarter valued at $30,000. 96.95% of the stock is currently owned by institutional investors.

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.