DA Davidson Forecasts Strong Price Appreciation for SS&C Technologies (NASDAQ:SSNC) Stock

SS&C Technologies (NASDAQ:SSNC) had its price objective raised by equities researchers at DA Davidson from $92.00 to $102.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s target price would indicate a potential upside of 18.37% from the stock’s current price.

Several other brokerages have also recently issued reports on SSNC. StockNews.com cut SS&C Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 15th. Raymond James increased their target price on SS&C Technologies from $85.00 to $95.00 and gave the stock a “strong-buy” rating in a report on Friday. Needham & Company LLC boosted their price target on SS&C Technologies from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Friday. UBS Group increased their price objective on shares of SS&C Technologies from $92.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group upgraded shares of SS&C Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $70.00 to $94.00 in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SS&C Technologies currently has a consensus rating of “Buy” and a consensus price target of $89.50.

SS&C Technologies Stock Performance

Shares of SS&C Technologies stock traded down $0.54 on Monday, hitting $86.17. The stock had a trading volume of 416,358 shares, compared to its average volume of 1,339,494. The stock has a market cap of $21.34 billion, a price-to-earnings ratio of 28.71 and a beta of 1.38. The business’s 50 day moving average is $77.69 and its two-hundred day moving average is $75.08. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.04. SS&C Technologies has a twelve month low of $59.53 and a twelve month high of $87.50.

SS&C Technologies (NASDAQ:SSNC) last announced its earnings results on Thursday, February 6th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.09. SS&C Technologies had a net margin of 12.93% and a return on equity of 18.30%. Analysts forecast that SS&C Technologies will post 5.26 EPS for the current year.

Insider Activity

In other SS&C Technologies news, SVP Jason Douglas White sold 69,000 shares of SS&C Technologies stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $77.07, for a total transaction of $5,317,830.00. Following the transaction, the senior vice president now directly owns 6,412 shares of the company’s stock, valued at approximately $494,172.84. The trade was a 91.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William C. Stone sold 132,700 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $76.85, for a total value of $10,197,995.00. Following the completion of the sale, the chief executive officer now directly owns 31,837,926 shares of the company’s stock, valued at approximately $2,446,744,613.10. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 449,000 shares of company stock valued at $34,461,478 over the last quarter. 15.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On SS&C Technologies

Institutional investors have recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in SS&C Technologies in the fourth quarter worth approximately $39,000. Parkside Financial Bank & Trust increased its position in shares of SS&C Technologies by 76.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock worth $40,000 after acquiring an additional 229 shares in the last quarter. Financial Perspectives Inc bought a new position in shares of SS&C Technologies in the fourth quarter valued at approximately $51,000. Rialto Wealth Management LLC bought a new position in SS&C Technologies during the 4th quarter valued at $64,000. Finally, CENTRAL TRUST Co bought a new stake in SS&C Technologies in the 4th quarter worth about $65,000. 96.95% of the stock is owned by institutional investors.

SS&C Technologies Company Profile

SS&C Technologies Holdings, Inc engages in the development and provision of software solutions to the financial services and healthcare industries. It operates through the following geographical segments: United States, Europe, Middle East and Africa, Asia Pacific and Japan, Canada, and the Americas, excluding the United States and Canada.