DA Davidson Issues Pessimistic Forecast for SS&C Technologies (NASDAQ:SSNC) Stock Price

SS&C Technologies (NASDAQ:SSNC) had its price target lowered by analysts at DA Davidson from $100.00 to $94.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective suggests a potential upside of 25.48% from the company’s current price.

Several other equities research analysts have also recently weighed in on SSNC. Needham & Company LLC cut their target price on SS&C Technologies from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $86.00 price target (down from $90.00) on shares of SS&C Technologies in a report on Friday, April 25th. Raymond James lowered 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 research report on Friday, April 25th. Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $70.00 to $94.00 in a research report on Monday, February 3rd. Finally, StockNews.com downgraded shares of SS&C Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, April 25th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $91.86.

SS&C Technologies Stock Up 2.1 %

NASDAQ SSNC opened at $74.91 on Monday. The company has a market cap of $18.46 billion, a price-to-earnings ratio of 24.97 and a beta of 1.31. SS&C Technologies has a 1-year low of $60.01 and a 1-year high of $89.73. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average of $80.65 and a 200-day moving average of $78.56.

SS&C Technologies (NASDAQ:SSNC) last released its earnings results on Thursday, April 24th. The technology company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.03. SS&C Technologies had a return on equity of 18.30% and a net margin of 12.93%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company posted $1.28 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that SS&C Technologies will post 5.35 earnings per share for the current fiscal year.

Insider Activity at SS&C Technologies

In other news, SVP Jason Douglas White sold 71,000 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at approximately $570,411.52. This represents a 91.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael Jay Zamkow sold 23,000 shares of the 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 sale, the director now 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 disclosure for this sale can be found here. 16.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SS&C Technologies

Several institutional investors and hedge funds have recently made changes to their positions in SSNC. Boston Partners increased its stake in shares of SS&C Technologies by 283.1% in the 4th quarter. Boston Partners now owns 5,279,386 shares of the technology company’s stock valued at $400,161,000 after acquiring an additional 3,901,227 shares in the last quarter. Norges Bank bought a new stake in SS&C Technologies in the fourth quarter valued at $205,475,000. Bank of America Corp DE raised its holdings in shares of SS&C Technologies by 64.9% during the fourth quarter. Bank of America Corp DE now owns 2,235,142 shares of the technology company’s stock valued at $169,379,000 after purchasing an additional 880,058 shares during the period. Senator Investment Group LP boosted its position in shares of SS&C Technologies by 133.7% during the 4th quarter. Senator Investment Group LP now owns 1,519,175 shares of the technology company’s stock worth $115,123,000 after purchasing an additional 869,175 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of SS&C Technologies by 52.4% in the 4th quarter. AQR Capital Management LLC now owns 2,270,232 shares of the technology company’s stock valued at $172,038,000 after buying an additional 780,616 shares during the period. 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.