DA Davidson Forecasts Strong Price Appreciation for SS&C Technologies (NASDAQ:SSNC) Stock

SS&C Technologies (NASDAQ:SSNC) had its target price raised by investment analysts at DA Davidson from $102.00 to $106.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective indicates a potential upside of 24.25% from the company’s current price.

A number of other equities analysts have also recently issued reports on SSNC. Wall Street Zen upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Raymond James Financial reissued a “strong-buy” rating on shares of SS&C Technologies in a report on Wednesday. Jefferies Financial Group raised their target price on shares of SS&C Technologies from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Royal Bank Of Canada lifted their price target on shares of SS&C Technologies from $97.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Finally, Morgan Stanley raised their price target on SS&C Technologies from $88.00 to $92.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.25.

SS&C Technologies Stock Performance

Shares of SSNC stock opened at $85.31 on Thursday. SS&C Technologies has a 12 month low of $69.61 and a 12 month high of $91.07. The firm’s 50 day moving average is $86.45 and its 200 day moving average is $86.08. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $20.82 billion, a P/E ratio of 25.31 and a beta of 1.19.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, October 23rd. The technology company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. SS&C Technologies had a return on equity of 19.80% and a net margin of 13.86%.The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the company earned $1.29 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that SS&C Technologies will post 5.35 earnings per share for the current year.

Insider Activity at SS&C Technologies

In related news, Director Normand A. Boulanger sold 150,000 shares of SS&C Technologies stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $85.85, for a total value of $12,877,500.00. Following the completion of the sale, the director directly owned 386,924 shares in the company, valued at $33,217,425.40. This trade represents a 27.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.40% of the stock is owned by insiders.

Institutional Trading of SS&C Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caldwell Trust Co purchased a new stake in SS&C Technologies during the second quarter worth $27,000. V Square Quantitative Management LLC purchased a new position in SS&C Technologies in the 4th quarter worth approximately $37,000. Quent Capital LLC acquired a new position in SS&C Technologies during the third quarter worth $39,000. Cornerstone Planning Group LLC increased its position in SS&C Technologies by 1,890.9% during the third quarter. Cornerstone Planning Group LLC now owns 438 shares of the technology company’s stock worth $39,000 after purchasing an additional 416 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of SS&C Technologies during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 96.90% of the company’s stock.

SS&C Technologies Company Profile

SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company’s offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.

SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.