SS&C Technologies (NASDAQ:SSNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The firm currently has a $65.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.69% from the stock’s current price.
According to Zacks, “SS&C Technologies Holdings, Inc. delivers investment and financial management software and related services focused exclusively on the financial services industry. The Company provides a broad range of specialized software, software enabled-services and software as a service (SaaS) solutions for operational excellence. SS&C Technologies delivers mission-critical processing for information management, analysis, trading, accounting, reporting and compliance. The Company serves clients in the following market verticals: 1) insurance entities and pension funds, 2) institutional asset management, 3) alternative investment management 4) treasury, banks and credit unions, 5) municipal finance, 6) real estate property management, 7) commercial lending, and 8) financial markets. SS&C Technologies Holdings, Inc. is headquartered in Windsor, CT and has offices throughout North America, Europe, Asia, and Australia. “
Other equities analysts have also issued research reports about the stock. Jefferies Financial Group lifted their price target on shares of SS&C Technologies from $55.00 to $58.00 and gave the company a “hold” rating in a research report on Monday. UBS Group cut their price objective on SS&C Technologies from $80.00 to $72.00 and set a “buy” rating for the company in a report on Monday. Credit Suisse Group cut their price objective on SS&C Technologies from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Buckingham Research set a $67.00 price objective on SS&C Technologies and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective on shares of SS&C Technologies in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. SS&C Technologies has an average rating of “Buy” and a consensus target price of $66.21.
Shares of NASDAQ SSNC traded up $0.27 during mid-day trading on Thursday, reaching $57.68. The company had a trading volume of 71,579 shares, compared to its average volume of 1,938,092. The stock has a fifty day moving average of $51.19 and a two-hundred day moving average of $54.10. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.09 and a current ratio of 1.08. The company has a market capitalization of $14.77 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.43 and a beta of 1.25. SS&C Technologies has a 12-month low of $40.96 and a 12-month high of $67.73.
SS&C Technologies (NASDAQ:SSNC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. SS&C Technologies had a net margin of 7.83% and a return on equity of 19.25%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. Sell-side analysts forecast that SS&C Technologies will post 3.48 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. bought a new stake in SS&C Technologies during the 2nd quarter worth about $25,000. Capital Investment Advisory Services LLC raised its holdings in SS&C Technologies by 930.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 515 shares of the technology company’s stock worth $30,000 after purchasing an additional 465 shares during the last quarter. Hudock Capital Group LLC bought a new stake in SS&C Technologies during the 2nd quarter worth about $42,000. Machina Capital S.A.S. bought a new stake in SS&C Technologies during the 2nd quarter worth about $52,000. Finally, FTB Advisors Inc. bought a new stake in SS&C Technologies during the 2nd quarter worth about $52,000. 80.99% of the stock is owned by institutional investors and hedge funds.
About SS&C Technologies
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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