SS&C Technologies (NASDAQ:SSNC) had its price objective increased by investment analysts at Royal Bank of Canada to $60.00 in a research note issued on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 21.29% from the stock’s current price.
A number of other equities research analysts also recently weighed in on the stock. UBS Group reissued a “buy” rating and issued a $49.00 price target on shares of SS&C Technologies in a report on Thursday, December 14th. Raymond James Financial raised shares of SS&C Technologies from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, November 21st. Citigroup raised shares of SS&C Technologies to a “strong-buy” rating and upped their price target for the company from $43.00 to $46.00 in a report on Tuesday, November 21st. BidaskClub downgraded shares of SS&C Technologies from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. Finally, Morgan Stanley upped their price target on shares of SS&C Technologies from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $48.18.
Shares of SS&C Technologies (NASDAQ SSNC) traded down $0.87 during midday trading on Friday, reaching $49.47. 4,848,690 shares of the company’s stock were exchanged, compared to its average volume of 1,450,000. SS&C Technologies has a 52 week low of $30.82 and a 52 week high of $51.39. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.87. The firm has a market cap of $10,180.00, a P/E ratio of 47.11, a price-to-earnings-growth ratio of 1.66 and a beta of 1.08.
In other SS&C Technologies news, CFO Patrick J. Pedonti sold 20,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $40.69, for a total transaction of $813,800.00. Following the completion of the sale, the chief financial officer now directly owns 17,500 shares of the company’s stock, valued at $712,075. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 60,000 shares of company stock valued at $2,414,600 over the last ninety days. Insiders own 17.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Advisor Group Inc. lifted its stake in SS&C Technologies by 14.3% during the second quarter. Advisor Group Inc. now owns 2,780 shares of the technology company’s stock valued at $106,000 after buying an additional 348 shares in the last quarter. QS Investors LLC increased its holdings in shares of SS&C Technologies by 165.7% in the 2nd quarter. QS Investors LLC now owns 4,810 shares of the technology company’s stock valued at $185,000 after purchasing an additional 3,000 shares during the period. SG Americas Securities LLC increased its holdings in shares of SS&C Technologies by 46.2% in the 2nd quarter. SG Americas Securities LLC now owns 4,902 shares of the technology company’s stock valued at $188,000 after purchasing an additional 1,550 shares during the period. ProShare Advisors LLC acquired a new position in shares of SS&C Technologies in the 2nd quarter valued at about $240,000. Finally, Achmea Investment Management B.V. acquired a new position in shares of SS&C Technologies in the 2nd quarter valued at about $247,000. 86.13% of the stock is owned by institutional investors.
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SS&C Technologies Company Profile
SS&C Technologies Holdings, Inc is a holding company. The Company is a provider of software products and software-enabled services that allow financial services providers to automate complex business processes and manage their information processing requirements. The Company’s portfolio of software products and software-enabled services allows its clients to automate and integrate front-office functions, such as trading and modeling, middle-office functions, such as portfolio management and reporting, and back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing.
