DA Davidson Reiterates “Buy” Rating for SS&C Technologies (NASDAQ:SSNC)

SS&C Technologies (NASDAQ:SSNC)‘s stock had its “buy” rating reaffirmed by DA Davidson in a research report issued on Tuesday, Benzinga reports. They currently have a $78.00 target price on the technology company’s stock. DA Davidson’s price target suggests a potential upside of 29.48% from the stock’s current price.

Several other research firms also recently issued reports on SSNC. Royal Bank of Canada boosted their price objective on SS&C Technologies from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. StockNews.com raised shares of SS&C Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 29th. Needham & Company LLC raised their price objective on shares of SS&C Technologies from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. UBS Group upped their target price on shares of SS&C Technologies from $72.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Finally, TheStreet upgraded shares of SS&C Technologies from a “c+” rating to a “b” rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.78.

SS&C Technologies Stock Down 0.1 %

Shares of SSNC opened at $60.24 on Tuesday. The company’s 50-day moving average price is $62.89 and its 200 day moving average price is $58.75. SS&C Technologies has a 12-month low of $46.61 and a 12-month high of $65.86. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The firm has a market cap of $14.89 billion, a P/E ratio of 25.31 and a beta of 1.43.

SS&C Technologies (NASDAQ:SSNC) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.13. SS&C Technologies had a net margin of 11.03% and a return on equity of 16.74%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. On average, sell-side analysts forecast that SS&C Technologies will post 4.61 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Norris Perne & French LLP MI boosted its position in shares of SS&C Technologies by 24.9% in the 1st quarter. Norris Perne & French LLP MI now owns 279,097 shares of the technology company’s stock valued at $17,965,000 after purchasing an additional 55,621 shares during the period. Signet Financial Management LLC boosted its holdings in shares of SS&C Technologies by 2.9% in the first quarter. Signet Financial Management LLC now owns 65,049 shares of the technology company’s stock valued at $4,187,000 after acquiring an additional 1,803 shares during the period. Eagle Rock Investment Company LLC grew its position in shares of SS&C Technologies by 2.4% during the first quarter. Eagle Rock Investment Company LLC now owns 59,207 shares of the technology company’s stock worth $3,811,000 after acquiring an additional 1,392 shares during the last quarter. Triad Investment Management increased its holdings in shares of SS&C Technologies by 2.3% in the 1st quarter. Triad Investment Management now owns 53,204 shares of the technology company’s stock valued at $3,425,000 after acquiring an additional 1,192 shares during the period. Finally, CHICAGO TRUST Co NA raised its position in SS&C Technologies by 17.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 8,756 shares of the technology company’s stock valued at $564,000 after purchasing an additional 1,310 shares during the last quarter. 96.95% of the stock is owned by hedge funds and other institutional investors.

About SS&C Technologies

SS&C Technologies Holdings, Inc, together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions comprising portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions consisting of claims adjudication, benefit management, care management, and business intelligence solutions.