SS&C Technologies (NASDAQ:SSNC) Stock Rating Lowered by Needham & Company LLC

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SS&C Technologies (NASDAQ:SSNC) was downgraded by research analysts at Needham & Company LLC from a “strong-buy” rating to a “buy” rating in a report released on Thursday, MarketBeat.com reports. They presently have a $78.00 price objective on the technology company’s stock, up from their previous price objective of $65.00. Needham & Company LLC’s price target indicates a potential upside of 17.72% from the stock’s current price.

A number of other research firms have also recently weighed in on SSNC. Royal Bank of Canada set a $70.00 price target on SS&C Technologies and gave the company a “buy” rating in a research note on Friday, November 1st. BTIG Research began coverage on SS&C Technologies in a report on Monday, January 13th. They set a “buy” rating and a $72.00 price objective on the stock. DA Davidson raised their price objective on SS&C Technologies from $62.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Credit Suisse Group raised their price objective on SS&C Technologies from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Zacks Investment Research raised SS&C Technologies from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $70.71.

SS&C Technologies stock opened at $66.26 on Thursday. 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 stock has a market cap 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 stock’s fifty day moving average is $63.15 and its two-hundred day moving average is $55.28.

SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.08 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm earned $0.95 earnings per share. SS&C Technologies’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts expect that SS&C Technologies will post 3.5 earnings per share for the current fiscal year.

In other SS&C Technologies news, CEO William C. Stone sold 255,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 31,931,624 shares of the company’s stock, valued at $1,878,856,756.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have acquired 72 shares of company stock worth $4,373. Corporate insiders own 14.50% of the company’s stock.

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

Further Reading: What does the Producer Price Index (PPI) tell investors?

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

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