SS&C Technologies (NASDAQ:SSNC) Given New $75.00 Price Target at Credit Suisse Group

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SS&C Technologies (NASDAQ:SSNC) had its price target upped by Credit Suisse Group from $70.00 to $75.00 in a research report issued on Thursday, The Fly reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 13.19% from the company’s previous close.

Several other research analysts also recently issued reports on SSNC. Deutsche Bank upped their price objective on SS&C Technologies from $64.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 13th. ValuEngine raised SS&C Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday. Raymond James set a $65.00 price objective on SS&C Technologies and gave the company a “buy” rating in a research note on Friday, November 1st. Morgan Stanley upped 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. Finally, Zacks Investment Research raised SS&C Technologies from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. SS&C Technologies currently has a consensus rating of “Buy” and a consensus price target of $70.71.

SS&C Technologies stock opened at $66.26 on Thursday. The business has a 50 day moving average of $63.15 and a 200-day moving average of $55.28. SS&C Technologies has a 1 year low of $42.51 and a 1 year high of $67.73. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $16.70 billion, a P/E ratio of 49.08, a P/E/G ratio of 2.37 and a beta of 1.29.

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

In other SS&C Technologies news, CEO William C. Stone sold 255,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were 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 owns 31,931,624 shares of the company’s stock, valued at approximately $1,878,856,756.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 72 shares of company stock valued at $4,373 in the last three months. Insiders own 14.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SSNC. TimesSquare Capital Management LLC acquired a new stake in SS&C Technologies during the 3rd quarter valued at approximately $45,320,000. Millennium Management LLC increased its position in SS&C Technologies by 161.2% during the 3rd quarter. Millennium Management LLC now owns 1,093,287 shares of the technology company’s stock valued at $56,380,000 after purchasing an additional 674,748 shares during the period. Select Equity Group L.P. increased its position in 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 valued at $181,530,000 after purchasing an additional 642,179 shares during the period. Anchor Capital Advisors LLC acquired a new stake in SS&C Technologies during the 3rd quarter valued at approximately $31,142,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of SS&C Technologies during the 4th quarter worth approximately $30,883,000. 83.45% of the stock is owned by institutional investors and hedge funds.

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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