Raymond James Boosts SS&C Technologies (NASDAQ:SSNC) Price Target to $76.00

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SS&C Technologies (NASDAQ:SSNC) had its price objective upped by research analysts at Raymond James from $65.00 to $76.00 in a report issued on Thursday, The Fly reports. The firm presently has a “strong-buy” rating on the technology company’s stock. Raymond James’ price target points to a potential upside of 14.70% from the company’s current price. The analysts noted that the move was a valuation call.

Several other equities analysts have also recently weighed in on SSNC. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of SS&C Technologies in a report on Friday, November 1st. JPMorgan Chase & Co. set a $69.00 price target on SS&C Technologies and gave the company a “buy” rating in a report on Friday, November 1st. ValuEngine upgraded SS&C Technologies from a “sell” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group raised their price target on SS&C Technologies from $55.00 to $58.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Morgan Stanley raised their price objective on SS&C Technologies from $57.00 to $59.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. SS&C Technologies has a consensus rating of “Buy” and an average target price of $70.71.

NASDAQ SSNC opened at $66.26 on Thursday. The stock has a market capitalization of $16.70 billion, a PE ratio of 49.08, a P/E/G ratio of 2.37 and a beta of 1.29. The business has a 50 day simple moving average of $63.15 and a two-hundred day simple moving average of $55.28. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.08 and a quick ratio of 1.08. SS&C Technologies has a 1-year low of $42.51 and a 1-year high of $67.73.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.11. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.17 billion. SS&C Technologies had a return on equity of 19.25% and a net margin of 7.83%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. On average, analysts anticipate that SS&C Technologies will post 3.5 EPS for the current fiscal year.

In related news, CEO William C. Stone sold 255,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $58.84, for a total transaction of $15,004,200.00. Following the completion of the sale, the chief executive officer now directly owns 31,931,624 shares of the company’s stock, valued at approximately $1,878,856,756.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 72 shares of company stock valued at $4,373 over the last three months. 14.50% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of SS&C Technologies by 0.9% during the 2nd quarter. BlackRock Inc. now owns 12,013,392 shares of the technology company’s stock worth $692,092,000 after acquiring an additional 104,581 shares during the last quarter. FMR LLC lifted its stake in shares of SS&C Technologies by 2.0% during the 4th quarter. FMR LLC now owns 7,460,750 shares of the technology company’s stock worth $458,089,000 after acquiring an additional 147,039 shares during the last quarter. State Street Corp lifted its stake in shares of SS&C Technologies by 1.0% during the 3rd quarter. State Street Corp now owns 4,675,325 shares of the technology company’s stock worth $241,107,000 after acquiring an additional 47,581 shares during the last quarter. Select Equity Group L.P. lifted its stake in shares of SS&C Technologies by 22.3% during the 3rd quarter. Select Equity Group L.P. now owns 3,520,078 shares of the technology company’s stock worth $181,530,000 after acquiring an additional 642,179 shares during the last quarter. Finally, Marshall Wace North America L.P. lifted its stake in shares of SS&C Technologies by 15.9% during the 4th quarter. Marshall Wace North America L.P. now owns 2,998,144 shares of the technology company’s stock worth $184,085,000 after acquiring an additional 412,175 shares during the last quarter. 83.45% of the stock is owned by hedge funds and other institutional investors.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc provides software products and software-enabled services to financial services and healthcare industries in the United States, Canada, rest of the Americas, Europe, the Asia Pacific, and Japan. The company's products and services allow its clients to automate and integrate front-office functions, such as trading and modeling; middle-office functions, including portfolio management and reporting; and back-office functions comprising accounting, transfer agency, compliance, regulatory services, performance measurement, reconciliation, reporting, processing, and clearing.

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Analyst Recommendations for SS&C Technologies (NASDAQ:SSNC)

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